Smart Pension, a £2.5 billion (US$3 billion) UK workplace pension scheme, has halved the emissions of its default growth fund, in what it claims is an industry first. The organisation has pledged to make its default growth fund net zero by 2040, and it’s 50% emissions cut is two years ahead of schedule, it said. It noted that its approach focuses on decarbonisation, rather than using offsets. The news comes after Smart Pension announced a range of lifestyle strategies that are sustainable, in what it claims is another first. It includes the default growth fund, and two other growth funds, which are all classified as Article 8 under the EU’s Sustainable Finance Disclosure Regulation. Paul Bucksey, Chief Investment Officer at Smart Pension, said: “The pension industry has a golden opportunity to drive faster decarbonisation, by investing in businesses that are serious about cutting their carbon emissions. This is exactly why we have an unwavering focus on achieving our 2040 net zero target. We want to help our members secure not just long-term financial growth but also a safer, healthier world in which they can retire.”
We’re delighted that we have cut emissions in the Smart Pension default growth fund by 50%.
We have reached this milestone two years ahead of schedule, focusing on decarbonisation rather than offsetting – a first for a UK pension scheme.
Read more: https://t.co/yc5vV80x9Q pic.twitter.com/PBmaOmSKzS
— Smart Pension (@smartpensionuk) February 27, 2023