Seven new signatories have joined Make My Money Matter’s (MMMM) Green Pensions Charter ahead of COP26, with a total of 70 UK organisations now pledged to 'green their pension' to help combat climate change.

Signatories to the charter, which was launched in May, pledge to taking steps to ensure that their workplace pension is invested sustainably and aligns with the rest of their business sustainability policies.

The new signatories are: The Co-Op, Innocent Drinks, Comic Relief, Banijay Productions, Oliver, Media Bounty and the Environment Investigation Agency.

The announcement follows recent research from MMMM which found that the majority out of large pension schemes are "failing to act" on climate change, with UK pension scheme investments currently enabling the release of around 330m tonnes of carbon every year.

MMMM partnerships manager, Jacinta Dillon, commented: “At Make My Money Matter we're working with organisations across the UK to help them make the connection between the power of their money and climate change.

"By acting now, businesses can turbocharge their existing efforts to be more sustainable and make sure their money is helping build a world we actually want to retire in.”

Co-op Group CEO, Steve Murrells, added: “We are clearly facing a monumental climate change crisis and must recognise that we all have a part to play. We simply have to do more and act quicker.

"We’re signing MMMM’s Green Pensions Charter because aligning our pensions with a net zero target is a crucial step for us to take, and hugely significant for all of our current and former colleagues who are part of the scheme, given how essential it is we look to combat the climate change crisis through sustainable investment.”

Adding to this Innocent Drinks European MD, Nick Canney, commented: “As a business, we might make little drinks, but we have big dreams to keep people healthy while making sure our communities and planet are healthy too.

"It’s never been more important to work together and back change as a force for good. We therefore welcome the opportunity to support the endeavours of the Green Pension’s Charter and the collective action to drive pension investments in line with net zero ambitions.”

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