More than half or 54 per cent of students would be more engaged with their future pension savings if they knew the funds were invested in ways to tackle climate change, according to Now:Pensions.
The research, of more than 2,000 university students aged 18 to 25 and in partnership with Debate Mate, aimed to understand UK students’ views on pensions and environmental sustainability.
According to the research, nearly half or 49 per cent see ‘Reduce, Reuse, Recycle’ as the most effective climate action and 81 per cent believe addressing climate change is as important as, or more important than, growing their savings.
Meanwhile, when it comes to sustainable investing, 58 per cent prefer backing companies already making a positive environmental impact rather than those needing improvement.
The data also shows a demand for sustainability in both education and employment with around 97 per cent of students supporting mandatory sustainability education in the UK curriculum, while 90 per cent consider a company’s environmental and social responsibility when applying for jobs.
Now:Pension UK head of sustainability Keith Guthrie says: “Through our partnership with Debate Mate, we aim to help students build a healthy relationship with money and understand how pension savings impact their future and the environment. It is a privilege to work with young people to shed light on the often-overlooked role pensions play in driving real-world impact.”
Debate Mate’s Group CEO and founder Margaret McCabe says: “At Debate Mate, we know that the young people we work with care deeply about the environment, and they are the generation that will bring about change. The results represent the need to do more to communicate to young people how their money can tackle the problems of today.”
