Over the last week, a lot of people have asked me

'How can my pension be green + get a decent return?'

I explain

1/ The principle of net-zero is simple.

We reach it when the amount of greenhouse gas we produce is offset by the amount we remove from the atmosphere.

2/ The PM @BorisJohnson has set out the govt’s 10 point plan for a green industrial revolution, creating and supporting hundreds of thousands of new jobs across the UK.

This will create exciting opportunities for our pension funds to invest in new sustainable technologies.

3/ When you save into a pension, your provider takes that money and invests it to secure a good return.

If they invest in sustainable and ethical technologies - as part of a balanced portfolio - your pension pot is helping get Britain to #NetZero.

4/ Our landmark Pensions Schemes Bill has passed the @HouseOfCommons.

It is a Bill that will make your pension greener than ever before, requiring pension funds to take the government's #NetZero targets into account. https://twitter.com/GuyOpperman/status/1326987713971630081

5/ Some politicians and commentators suggest the gov't should force private pension schemes to invest in a certain way.

Not only would this be an inappropriate use of power, but it would be counterproductive and lead to pension divestment, which solves nothing.

6/ The principle of divestment may be well-intended, but simply selling high-carbon assets to others who don’t have the same ethical concerns will do nothing to get us to net-zero.

Mark Carney and Bill Gates agree.

7/ Last week, I made a virtual speech to @AmntOrg.

I announced the establishment of the Taskforce on Pension Scheme Voting Implementation.

This is a Taskforce with teeth that addresses stewardship. https://www.gov.uk/government/speeches/minister-for-pensions-guy-oppermans-speech-on-a-new-direction-for-trustee-stewardship

8/ The Taskforce will seek to address the archaic voting infrastructure.

Asset managers need to play their part to make our pensions greener.

We want trustees to be empowered to do the right thing.

9/ Our pension law reforms help make pensions greener.

It gives pensions a good return and uses your pension to tackle climate change.

#SaferBetterGreener

10/ Real action by this gov't led by @BorisJohnson

New legislation
New green gilt
New partnership with business
One planet
Private pensions in the UK making a difference