The co-founder of charity Comic Relief wants to help shift the U.K.'s £3 trillion ($3.7 trillion) in retirement assets into sustainable investments.
Richard Curtis, who is also a director, screenwriter and producer, has launched Make My Money Matter, a campaign to give U.K. participants more voice and choice in how their assets are invested.
The campaign calls on the U.K. retirement industry to commit to net-zero carbon emissions by 2050. It wants the government to include in the upcoming Pensions Bill a requirement for retirement plans to report on their emissions forecasts to 2050 and how their investments align to the Paris Agreement.
The campaign, launched June 30, cited a recent poll that showed how the coronavirus pandemic has affected participants' views of how their assets are invested. It found that 32% of U.K. participants care more now about the impact of how their assets are invested on people and the planet vs. at the start of the COVID-19 pandemic. Further, 57% of Brits want to see their assets invested to build a better future for people and the planet.
The campaign was launched by Mr. Curtis at a virtual event, alongside Mark Carney, United Nations special envoy for climate action and finance; Tanya Steele, CEO of the WWF-U.K.; and Helen Dean, CEO of the National Employment Savings Trust, London, which had £9.5 billion in assets as of March 31.
"The £3 trillion in our U.K. pension pot is more than enough to take on the climate emergency, bring hundreds of new drugs to market, or help solve the housing crisis," said Mr. Curtis in a statement ahead of the launch. "But from tobacco to fossil fuels, gambling to deforestation, pension funds have invested trillions on our behalf without asking us the crucial question — do these investments create a world that we actually want to live in?"— sophie baker
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July 13, 2020 at 11:00AM
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U.K. campaign wants to give participants a sustainable voice - Pensions & Investments
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