Thinking of going vegan? Maybe your savings could offer better protection against climate change.
New research from Make My Money Matter, Aviva and Route2 estimates ‘green’ pensions are nearly 57 times more effective at cutting emissions, than adopting a vegan diet.
A pension that is classified as green is an option offered by a provider whose schemes are aligned to the Paris Agreement.
The findings of the report show pensioners with a minimum pot of £100,000 could save through green pension schemes up to 64 tonnes of carbon. That translates to nine years’ worth of a UK citizen’s average carbon footprint.
The authors of the study also stress those with an average-sized pension pot who switch to a sustainable option, could save 19 tonnes of carbon dioxide a year.
Richard Curtis, Co-Founder of Make My Money Matter, said: “We need the entire UK pensions industry to go green, making their default funds more sustainable so all savers can have a pension to be proud of.
“As individuals, we have a critical role to play in driving this change by showing providers that we want our money invested in a way that does good, not harm and so that we can retire into a world that is not on fire.”