World’s first renewable energy pension fund launched in the UK

The world’s first pension fund investing solely in renewable energy was launched today in London. The announcement came from Abundance, the ethical peer-to-peer investment platform.

UK residents will be able to choose where to put their money, selecting among the UK renewable energy projects offered on the Abundance website. A minimum of 5,000 GBP will be requested in the first 12 months. The scheme will benefit from tax advantages and will be subject to access restrictions before the age of 55, in compliance with national regulations.

According to research commissioned by Abundance, the pension fund responds to three concerns of UK savers. The first is to reduce exposure to risk in global markets. A survey conducted by OnePoll among 2,000 people revealed that 47 % are worried about the impact of the global stock market on their pension and 44 % are interested in options that reduce vulnerability to such risks. The second is about transparency: 33 % of people surveyed are concerned on where their money is invested and just 14 % believe their pension provider is very transparent. 21 % would invest more in their pension if they knew where the money is going. The third is a growing demand for clean investment from millennials, the generation reaching adult age around the year 2000. 34 % of millennials are keen to open a pension 100 % invested in renewable energy, twice as many as older cohorts…

Continue reading on Sun & Wind Energy. Published on 22 October 2015. Photo: Wikimedia Commons