A GROWING number of people are moving their pension pots into funds set up to combat climate change, according to a financial management company.

Rachael Bell Wealth Management, in Carlisle, said figures from a study by European financial services company Nordea group show a sustainable investment fund can help an individual reduce their carbon footprint by up to 2,222 tonnes over the course of their working life.

Principal Rachael Bell said: “There is a growing movement that strongly believes we should all be using our money for the greater good.

“One study found that moving your pension savings to sustainable investment funds can be 27 times more efficient in reducing your carbon footprint than making changes like eating less meat, using the train instead of the car, flying less and taking shorter showers. So while small lifestyle changes go some way towards protecting the planet, you can make a much bigger impact by using the power of your pension - and we are certainly finding that to be the case more frequently with the clients we deal with.”

People are increasingly opting to save into an eco-friendly pension fund to reduce their carbon expenditure, she said.

“When you have a pension, you are an investor, and investors are influential,” she said.

“By using your money to support those companies that are making positive changes in the world, you are shaping the future and encouraging better business practices from all companies.That’s how a responsibly invested pension benefits you and benefits others in society.”