Nearly half (44 per cent) of pension professionals think they should consider environmental impacts when running a pension scheme, a poll from WTW has found.

The research, which covered 148 pensions professionals and trustees, revealed "strong support" for climate-conscious missions in the pensions industry.

According to the survey, just over three quarters (78 per cent) either a beneficiary mission that maximises the value of members’ benefits, or a wider mission that incorporates climate change considerations.

In addition to this, less than a quarter (22 per cent) felt they have a narrow mission just to pay benefits as they fall due.

WTW highlighted the research as evidence of a "significant" move towards sustainability, with managing director, James Wintle, arguing that there is a "strong commitment" from trustees and professionals to integrate climate impact into their decisions.

"This is not just about compliance but about leading with responsibility towards a sustainable future," he continued.

“This underscores the growing trend among pension trustees to prioritise environmental factors in their decision-making, reflecting the pensions industry’s desire to do more for both its members and the environment.

"This is not just about managing schemes’ own climate risk but also about considering the wider climate impact of their decisions.

“Fiduciary duty has historically been quite narrowly defined but, with the intent to do better, we are finding ways for the industry to play a positive role anyway. A wider recognition that fiduciary duty does not have to be a blocker would no doubt be welcome by many to give comfort to those wanting to do more that they can safely do so.”

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