NLGPS chair, councillor Ged Cooney, said: “Collaboration is critical in driving positive change. NLGPS’ partnership with MMMM confirms our commitment to sustainable investment. We are confident through our work with other likeminded investors
Lowcock believes the outperformance of sustainable, ESG and ethical funds will continue from here, with many of the old-guard old economy stocks likely to struggle unless they change.
However, whilst 74% of those surveyed already invest in the renewable energy sector, only 30% described it as mature. The majority of the pension fund investors (52%) classified it as developing, whilst 18% thought it was early stage.
When you look under the bonnet, a lot of so-called ethical funds look very similar to other funds, so there is a real risk that much of the time it is simply a branding exercise.
Steve Waygood, chief responsible investment officer at Aviva, agreed, saying it was an “elegant” idea which Aviva would support.
Opperman claimed the fact that more than 10m people were now auto-enrolled, along with trillions in assets under management, pensions could do a lot to tackle the climate crisis.