The mainstream financial sector is continuing to invest consumers' savings in high carbon industries. As the economy shifts towards low carbon this is a possible threat to the long term viability of pension schemes. It is also holding back investment from low carbon technologies and companies.
In 2012, we examined how government tax breaks for savings, such as ISAs and pensions, which amount to around £40 billion a year, could be used to mobilise more funds for sustainable investments.
We ran focus groups to understand the attitudes of young professionals from Generation Y to finance and sustainability. Our 2014 report identifies four recommendations to government and the personal finance sector for ensuring that pensions and other savings products work in the long-term interests of Generation Y. The future savings challenge was highly commended in the 2015 Farsight Awards, recognising originality, quality, readability, sophistication, depth and financial usefulness.