Smart Pension is aiming to reduce 75 per cent of the emissions of its default growth fund by 2030, building on its 50 per cent reduction in 2022.
This is consistent with the corporation’s objective of having a net-zero default growth fund by 2040. This new objective surpasses the emission reduction targets set forth in the 2015 Paris Agreement and is consistent with COP 28’s emphasis on accelerating the energy transition.
Three sustainable lifestyle investing methods were also created by Smart Pension, focusing on environmental, social, and governance (ESG) considerations and impact investments in clean energy, healthcare, and clean water.
These elements comply with the disclosure requirements set forth in Article 8 or 9 outlined by the Sustainable Finance Disclosure Regulation, established by the European Commission.
Smart Pension chief investment officer Paul Bucksey says: “We are delighted to announce this new interim target to reduce emissions in our default growth fund even further. We are proud to be at the forefront of the UK’s sustainability drive, having committed to some of the most ambitious and challenging targets in our industry, and we are already exceeding them.
“The pension industry has a golden opportunity to drive faster decarbonisation, by investing in businesses that are serious about cutting their carbon emissions. We continue to secure our member’s long-term financial growth by investing sustainably, which will lead to a safer, healthier world in which they can retire.”
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