Fidelity International has said it will reduce carbon emissions within FutureWise, the firm’s default investment strategy for UK-based pension schemes.
The fund manager has pledged to halve emissions in the pension plan by 2030, and for it to become net zero by 2050 or sooner.
This would align the strategy’s investments with its commitment to the Net Zero Asset Managers Initiative, set up to encourage the drive towards net zero greenhouse gas emissions by 2050 or before, the firm said.
The move comes after a 2020 survey of 127,000 FutureWise members, in which the Fidelity found that nearly two-thirds believed workplace pension schemes should automatically incorporate sustainability within their default investment strategy.
The firm said it will work with its investment partners to agree on these targets for the proportion of FutureWise Investments’ assets, aiming to manage them in-line with the net zero emissions objective.
Keith Metters, Fidelity’s head of global workplace investing, said: “With more than 23 million people in the UK enrolled within defined contribution pension schemes, it’s imperative that the industry provides solutions to allow plan sponsors, trustees and members to make a positive impact with retirement savings.”
© 2021 funds europe
