Pension Pots

The UK Pensions sector holds a total of around £2.6 tn, mostly invested in stocks and shares. Rather obviously, the people running such funds, are tasked with maximising income inorder to pay the pensioners. The fund managers consequently tend to invest in a mix of 'high yield' and safer investments. These funds are now, however, being urged to sign up to a 'green pensions charter' (https://www.theguardian.com/environment/2021/may/05/pension-funds-urged-to-help-uk-reach-net-zero-climate-goals). Pensions funds signing up to the charter, undertake to rid themselves of stocks and shares held in high carbon businesses (oil companies, mining, airlines etc). It's suggested that, if pension funds made this move, their considerable financial power could help the UK achieve its target of net zero by 2050. Some large pension funds have already signed up. Many pensioners, however, are blissfully unaware of what investments are made by their fund. Grey power needed, if pensioners are not to be blamed for the climate crisis?