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What if there was a way to fight climate change, improve society and protect nature with no costs, no sacrifices and pretty much zero effort?
Would you join in?
Would you join in?
First, imagine spending 15 years trying to save people from cancer, only to find out that you had been funding tobacco companies for decades through your pension. That’s what happened to Australian oncologist Bronwyn King. https://www.ted.com/talks/bronwyn_king_you_may_be_accidentally_investing_in_cigarette_companies
”She suddenly realised she’d killed more people than she’d saved in her life,” said filmmaker and activist Richard Curtis, on a recent edition of @GlobalOptimism' #OutrageAndOptimism podcast hosted by @CFigueres, @tomcarnac & @PaulOutrageAnd https://twitter.com/GlobalOptimism/status/1278357254136139776?s=20
Curtis credits this story with helping to convince him to launch a new campaign that could be a game-changer in the fight against climate change.
He wants to use the invisible power of vast pensions funds to invest in sustainability instead of funding destructive industries.
He wants to use the invisible power of vast pensions funds to invest in sustainability instead of funding destructive industries.
The potential is huge.
The combined pension pot of people in the UK is £3.1 trillion, that is more than 200 times bigger than the country’s overseas aid budget.
That's £3,100,000,000,000 of our money that could be doing good.
The combined pension pot of people in the UK is £3.1 trillion, that is more than 200 times bigger than the country’s overseas aid budget.
That's £3,100,000,000,000 of our money that could be doing good.
But 99% of that money is invested in ‘default’ schemes that fund tobacco companies, arms manufacturers, coal and oil producers and companies responsible for deforestation of the Amazon and other tropical forests.
Our money, the result of years of hard work, is actively working against our best interests by funding — indeed accelerating — the breakdown of the global climate and the destruction of nature.
Imagine if instead it was funding the best and most sustainable companies, investing in clean energy and alternatives to plastics, for example.
Curtis has launched @MMMoneyMatter to encourage pension providers to make this shift, moving our money to invest in our common future.
Curtis has launched @MMMoneyMatter to encourage pension providers to make this shift, moving our money to invest in our common future.
The @MMMoneyMatter site says "Moving your savings to sustainable funds can be 27 times as effective at reducing your carbon footprint than eating less meat, using public transport, reducing water use + flying less combined."
(That's not to say those things aren't important too!)
(That's not to say those things aren't important too!)
It is madness that pensions are set to make life worse for those hoping to use them in retirement. It is sanity to ask pension providers to move the money.
“There’s no point getting a pension in a world on fire," said Curtis. "So you’re actually doing it for you own good”.
“There’s no point getting a pension in a world on fire," said Curtis. "So you’re actually doing it for you own good”.
Investments in fossil fuels are a significant financial risk anyway.
Oil pipelines are being cancelled. Coal mines are closing.
https://twitter.com/RichBrooks350/status/1280878152915582976?s=20
Investments in fossil fuels are looking less attractive by the day.
Oil pipelines are being cancelled. Coal mines are closing.
https://twitter.com/RichBrooks350/status/1280878152915582976?s=20
Investments in fossil fuels are looking less attractive by the day.
Yet 99% of UK pensions are in default schemes investing in fossils. Is yours? Probably. https://makemymoneymatter.co.uk/
The economic case is strong. In May, @MichaelHolder reported for @BusinessGreen that renewable power shares displayed less volatility and offered investors "significantly higher" total returns than fossil fuel stocks. https://www.businessgreen.com/news/4015803/study-renewable-power-investments-significantly-outperform-fossil-fuels-past-decade
And last year, this report by @GoodMoneyGirl, @pensionbee, @PictetAM, @nestpensions showed that ethical funds "strongly outperformed" the default option at the UK's two biggest independent pension providers over 1, 3 & 5 years https://good-with-money.com/2019/08/20/good-guide-to-pensions-reveals-ethical-funds-outperform-at-biggest-providers/
But this isn't just about money. It's about justice.
If our money is invested in fossil fuels, said @CFigueres, this means “we are stealing the future from our kids, because we are saddling them with a world that they will not be able to manage, not be able thrive in.”
If our money is invested in fossil fuels, said @CFigueres, this means “we are stealing the future from our kids, because we are saddling them with a world that they will not be able to manage, not be able thrive in.”
Joining the campaign to convince pension funds to change is a quick and easy way for most people to take action on climate change without having to spend or sacrifice anything.
So what can you do?
1. Sign the petition https://makemymoneymatter.co.uk/sign-the-petition/
So what can you do?
1. Sign the petition https://makemymoneymatter.co.uk/sign-the-petition/
2. Contact your employer and your pension provider. Tell them you want a pension that helps create a world in which you would want to retire -- not a planet on fire.
@MMMoneyMatter has letter templates you can copy-and-paste here: https://makemymoneymatter.co.uk/make-a-change/
@MMMoneyMatter has letter templates you can copy-and-paste here: https://makemymoneymatter.co.uk/make-a-change/
3. Tweet at your pension provider with this tool https://makemymoneymatter.co.uk/share-the-campaign/
4. Find out more. Read the FAQ on the @MMMoneyMatter site https://makemymoneymatter.co.uk/frequently-asked-questions/ or listen to Richard Curtis on the @GlobalOptimism podcast https://twitter.com/GlobalOptimism/status/1278357254136139776?s=20
5. Spread the word.
Pretty much everyone you know who has a pension plan will be unwittingly funding the companies that are destroying our planet and our liveable atmosphere.
Help them to see the problem and how it harms their best interests.
Pretty much everyone you know who has a pension plan will be unwittingly funding the companies that are destroying our planet and our liveable atmosphere.
Help them to see the problem and how it harms their best interests.
Some pension funds are already taking responsibiliy. Momentum is growing. Don't get left behind.
https://twitter.com/p_hannam/status/1280946209599811584?s=20
Don't be an accidental investor in things you don't believe in.
https://twitter.com/p_hannam/status/1280946209599811584?s=20
Don't be an accidental investor in things you don't believe in.
What if there was a way to fight climate change, improve society and protect nature with no costs, no sacrifices and pretty much zero effort?
There is. It is our own pension wealth, but right now it is working against us. https://makemymoneymatter.co.uk/whats-the-issue/
There is. It is our own pension wealth, but right now it is working against us. https://makemymoneymatter.co.uk/whats-the-issue/
We urgently need to divert those vast pension funds into investments that secure our future.
@MMMoneyMatter's message is clear and its arguments have integrity. Its theory of how people power can create positive change is robust.
I'm in. Are you?
@MMMoneyMatter's message is clear and its arguments have integrity. Its theory of how people power can create positive change is robust.
I'm in. Are you?
Some good news on pensions. It is long overdue and there is still far to go https://twitter.com/wedonthavetime/status/1288410950878597126?s=21 https://twitter.com/wedonthavetime/status/1288410950878597126
Hey @avivaplc @AvivaUK @Aegon @TruePotential_ @AJBellYouinvest @HLInvest, will you join in?
Stop UK pensions from funding the climate emergency and ecological breakdown. Invest for social and environmental good instead.
https://twitter.com/mmmoneymatter/status/1291331428219858945?s=21 https://twitter.com/mmmoneymatter/status/1291331428219858945
Stop UK pensions from funding the climate emergency and ecological breakdown. Invest for social and environmental good instead.
https://twitter.com/mmmoneymatter/status/1291331428219858945?s=21 https://twitter.com/mmmoneymatter/status/1291331428219858945
