The Pensions Schemes Bill 2024-25 is the first legislation of this government’s landmark programme of pension reform. Its core aim is to boost investment in the UK. However, the Bill (and broader reforms) currently overlook the biggest risks to pension savers and the UK economy: climate change and nature destruction.
UK pension funds are significant investors in fossil fuel assets and companies linked to deforestation, which threatens the long-term security of savers, growth prospects for the UK’s economy, and the stability of the wider financial system.
Alongside unions and civil society organisations in the Better Pensions Coalition, this briefing urges MPs to raise this issue at the Second Reading of the Bill.
