The other day I decided it was time to tidy my overburdened desk. A task long overdue, as anyone who has ever seen my desk will agree. I made a start with high intentions but, of course, there’s a reason why everything on my desk has been held onto and I was soon distracted.

I came across a copy of Ethical Consumer magazine, and the picture on the front caught my attention. It showed a Lego family, standing on top of our planet that was shaped like a piggy bank and stained with oil. The speech bubble from the child said: “Mum and Dad, are your savings messing up my future?” Alongside was the headline: “Can your pension and investments help to fight climate change?” Another headline ran: “Shell in the ethical spotlight”.
All very topical you might think, but this magazine was dated spring 2014. Obviously not enough has changed in the last nine years.

The article on ethical banks scored Barclays the worst of all. Checking its present position I discovered it is still bumping along the bottom, with an ethical score of two out of a maximum of 20 points. Last year I finally closed my long-held Barclays account, better late than never, and chose Triodos instead. Other ethical banks are available!
My personal pension is now with a fund ranked second best for ethics but still only scores ten out of 20 points. Clearly the pension industry has a long way to go!
A hard-working group called Dorset Action has been lobbying Dorset Council and its pension fund manager Brunel to divest the many millions it has invested in fossil fuels. This is vital because an October 2021 report found the UK pensions industry enables more CO2 emissions worldwide than all the UK’s carbon emissions put together.

Yes, pension funds must seek the best possible returns for their members, but as renewable sources of energy now make more economic sense than fossil fuels it is obvious where the long-term smart money should go. And, of course, profit is not the only criteria.
To quote Sir David Attenborough: “It is crazy that our banks and our pensions are investing in fossil fuels, when these are the very things that are jeopardising the future we are saving for”.
If you are a member of Dorset Council’s pension scheme go to www.dtaction.co.uk to see how you can help persuade the council to change its investments.
Change has to come, and come soon. We consumers have the power to drive that change! From changing your light bulbs to your bank account, and whatever else you can change, you can be part of creating an exciting future we can all value.