The Make My Money Matter (MMMM) campaign has written to the CEOs of 20 of the UK’s leading defined contribution (DC) pension providers to urge them to agree to “robust, ambitious, and front-loaded” net-zero targets ahead of COP26.

The letter, from MMMM CEO, Tony Burdon, called on the 20 companies, representing over £175bn of assets under management, to join the campaign and commit to net-zero pensions, including halving emissions this decade.

Burdon also noted that, since the group’s launch in 2020, 15 UK pension funds have agreed to net-zero targets, including halving emissions by 2030, meaning that there are now 25 million pension pots with over £400bn of assets under management doing more to tackle the climate crisis.

However, he emphasised that despite this progress, there is “much more still to do before all pensions are aligned to net zero”.

“That is why I’m writing to ask whether you will join this movement, and commit your DC scheme to a robust net-zero target, including halving emissions before 2030, ahead of the COP26 climate conference in November,” the letter stated.

“Across society, the energy to make our money matter is growing bigger every day. That’s why we are urging you to listen to your members, to the science, and to your peers, and commit to robust emission reduction targets.”

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