Green Light for Pension Power: 6 months of action

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Since our launch 6 months ago, the pension power movement has been going from strength to strength…

Online

21 NGOS and unions are now part of the Green Light coalition, spreading the word to millions of people across the UK.

Over 5,000 people have challenged 148 pension funds to support a low carbon future and stop Shell’s risky Arctic drilling plans. 
 

Pension power and the financial movement against fossil fuels has got the media going (check out the Guardian and Responsible Investor articles).

On the Streets

Green Light campaigners have been taking their actions to the next level already. Tim Padmore has been down to the West Yorkshire Pension Fund annual general meeting, challenging his fund directly on where his savings are invested. His Educating West Yorkshire campaign continues!

Green Light supporters took to the streets outside the USS annual meeting about the role it could play as a climate conscious investor.

We’ve trained dozens of people on how to push their pension fund on climate change face to face.

Check out our report for campaigners The Green Light Campaign: Using pension power to protect our planet.

On the Inside

We’re meeting with big investors and pension funds about the Green Light and how they can make their investments more climate friendly.

Check out our report for pension funds The Green Light Report: Resilient portfolios in an uncertain world which was sent to over 200 of the UK’s largest pension funds.

110 people are now trained and ready to go along and ask tough questions at company AGMs this summer.

We’re ready to go along to FTSE 100 company annual general meetings this year and make sure that climate change is top of the agenda!

Check out our report Frozen Future: Shell’s ongoing gamble in the US Arctic about Shell’s plans to drill for oil in the US Arctic ocean. Investors are using questions from the report to ask Shell directly about the risks of their operations.

And it’s working!

Pension funds are replying to their members’ questions and challenges. We’ve seen some great responses supporting the Green Light asks, and others with some room for improvement… but the conversations don’t stop here! Many of us continue to press our pension funds for more.

One great example has been set by The Pensions Trust who look after the savings of hundreds of thousands of us. They are publishing a climate change policy. 

The Pensions Trust and Aviva have agreed to meet with members directly about Green Light. 

Other major pension providers have reformed how they engage with their members to be more direct and transparent – both Scottish Widows and Standard Life have introduced new channels of communication with their savers.

Pension staff are starting to get involved! Over 45 pensions officers and trustees have come on Climate Risks Trustee Trainings. Five big UK pension funds also came to our roundtable on low carbon investment options.

The movement against fossil fuel finance has been building momentum! BlackRock and FTSE Group have developed a new fossil free investment option for pension funds. Credit goes to campaigning from organisations including Carbon Tracker Initiative, 350.org and Green Light.

We’ve still got lots more we can do to transform our pension funds and support a greener, safer future – but we’re also off to a great start. From meeting our pension funds face to face through to challenging Shell on its risky Arctic drilling plans, thousands of us are coming together and claiming our pension power for good – and on a scale that has never happened before.

Here’s to what we can achieve in the next 6 months!

GuestGreen Light for Pension Power: 6 months of action

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