Cushon, the fintech workplace savings disrupter, today announces that it has launched the world’s first net zero pension.
Cushon’s pension is the first of its kind in that it is Net Zero now – not later – unlike competitors in the market who have long-reaching targets to achieve the same by 2030 or even 2050. The fund will have a management fee of just 0.15%, while offering highly competitive returns without sacrificing performance.
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Cushon’s Net Zero pension will enable people to slow down climate change quickly, easily and meaningfully via the choices they make for their pension helping to protect our environment and align towards the Paris Climate Agreement and a 1.5 degree world.
Each year, the average UK pension member unwittingly finances 23 tonnes of CO2 emissions through the businesses their pension invests in. That’s the equivalent of running either nine family cars each year, using 940 gas propane cylinders, or burning 1,100 coal fires annually, simply as a by-product of saving for retirement. To counteract this you would need to recycle for 19 years, or plant 30 acres of new forest.
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While there are a number of pension investment funds that claim to be socially responsible, these funds often come with higher charges and are still a long way away from being net zero – a target set by the UK Government to be met by 2050. Cushon’s pension is Net Zero right from the get go. Not in 30 years, not in 15 years, but now.
The launch will also cater to growing demand in the market, as employees become increasingly concerned with the impact of their finances. Cushon’s recent research shows that 68.6% of employees are concerned that their company pension could be investing in businesses that are contributing to climate change. 48.2% of employees would like the option to invest their pension in businesses that do not contribute to climate change and 39.8% would like their employer to move to a pension provider that is making a positive impact on climate change.
Choosing to use a climate-friendly pension provider is an easy way for businesses to significantly reduce their employees’ contribution to global warming, taking a huge step towards protecting the environment we live in.
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