UK schemes invest £88bn into fossil fuels industry

MMMM research finds average UK pension holder invests over £3,000 into fossil fuels

Martin Richmond
clock • 3 min read
North Sea oil platform in Cromarty Firth, Scotland
Image:

North Sea oil platform in Cromarty Firth, Scotland

UK pension schemes have invested approximately £88bn into the oil and gas industries despite their own commitments to reach net zero, research from Make My Money Matter (MMMM) has shown.

The company's Fossil Fuels in UK Pensions report - published today (28 June) - found over 50 schemes who have outlined commitments to reach net zero have also not dismissed further investments in f...

To continue reading this article...

Join Professional Pensions

Become a Professional Pensions Lite Member today

  • Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
  • Receive important and breaking news stories via our two daily news alerts
  • Hear from industry experts and other forward-thinking leaders

Join now

 

Already a Professional Pensions
member?

Login

More on Industry

Professional Pensions: Stories of the week

Professional Pensions: Stories of the week

Autumn Budget announcements, ECI Partners takes stake in IGG, £1.1bn buy-in deal secured

Professional Pensions
clock 01 November 2024 • 1 min read
LGPS Central exceeds £6bn in private market commitments

LGPS Central exceeds £6bn in private market commitments

The LGPS pool has committed £6bn capital across all private market segments

Holly Roach
clock 01 November 2024 • 1 min read
People's Partnership more than halves carbon footprint of main investment fund

People's Partnership more than halves carbon footprint of main investment fund

Provider says it is ‘imperative’ to integrate approaches between climate and nature

Martin Richmond
clock 31 October 2024 • 2 min read
Trustpilot