As Prof. Myles Allen - IPCC lead author and leader of Oxford’s Climate Research Programme - puts it: “For the sake of the future of the planet, there is a strong case for pension funds taking action, but there’s also quite a strong case just for the sake of your parents’ pensions.”
Right now, our parents’ retirement savings worth trillions are being gambled by their pension funds on our ability to put increasing amounts of CO2 in the atmosphere. But their pension fund probably never asked their permission! This money is fuelling new and dirtier fossil fuel extraction projects as well as outrageous lobbying activities that block the badly needed government action. If these are allowed to go on, not only do the prospects for our and that of following generations look pretty bad, but our parents risk losing part of their savings!
Pension funds, as shareholders, own large shares of major companies in our parents’ name. That means they have the power to stop these companies from wasting our parents’ money on fuelling the carbon bubble and on dirty lobbying activities. And they can put more money in green jobs and a sustainable economy.
What is more, pension funds have a legal duty to invest in the best interest of pension holders - our parents. If a few of our parents tell their fund that their best interest is for a safe future for both their money and their children, we can leverage out pension funds’ trillions to fight climate change. Ask you parents now to take action! It’s very easy and will only take them 3 minutes.
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