Make My Money Matter (MMMM) has launched a new advert to raise awareness around the relationship between UK pension schemes and the fossil fuel industry, after its research found that fossil fuels are becoming increasingly unpopular amongst pension savers.

The research found that whilst just under a fifth (19 per cent) of savers support oil and gas investments, two thirds (66 per cent) were supporting renewables.

Despite this, MMMM argued that no major UK scheme is committed to end finance for fossil fuel expansion, with its research showing that a "staggering" £88bn of UK pension savers money is invested in fossil fuel companies.

The group also argued that industry action on this agenda has been "painfully slow", despite guidance from the International Energy Agency that oil and gas is incompatible with the targets of the Paris Climate Agreement.

The research was shared amid the launch of a new awareness advert directed by Raine Allen-Miller, and starring Olivia Colman as 'Oblivia Coalmine’, a latex-wearing, potty-mouthed CEO of a fossil fuel company paid for by UK pension holders.

It aims to raise public awareness of the impacts of the pension industry on the climate emergency and encourage UK schemes to end their investments in fossil fuel expansion.

Commenting on the launch, star of the advert, Olivia Colman, stated: "Fracking Hell, Oblivia Coalmine really is a nasty piece of work! But the scariest thing about her is that she represents something very real.

"That’s why this is such an important campaign. I hope everyone who sees this ad realises the shocking - but unintended - impacts of our pensions and makes their money matter. It really is one of the most powerful things we can all do to protect the planet.”

MMMM co-founder, Richard Curtis, added: "I’ve seen some dark, dystopian characters in my career, and that doesn’t even include Hugh Grant in Love Actually. But I think Oblivia Coalmine is right up there with the worst.

"At Make My Money Matter, we hope this sinister performance by Olivia Colman highlights a more serious issue – that billions of pounds of our hard-earned pensions are driving the climate crisis.

"People across the UK want their money to help our planet, not harm it and all our pension schemes must now pay attention and take immediate and urgent action.”

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