Powering the UK's renewable electricity
Cushon members are helping to finance over 100 sites across the UK that are producing renewable energy now or are set to begin production in the near future. These are mainly made of solar arrays and wind turbines, both onshore and offshore.
What's the investment?
If your pension is being invested in the Cushon Sustainable investment Strategy ('the default' - most common members are in this) then your pension savings are helping to support more electricity production through solar and wind.
The power generated sites are spread far and wide across the UK. So widely in fact that if you are in Northern Ireland, Wales or England you are never further than 100 miles from a renewable energy installation that's partly financed by your pension investments.
What's the impact?
The renewable installations you're financing are part of an incredible transition in how the UK sources its power.
In 2000 just 2.8% of the electricity generated in the UK came from renewable sources such as wind, solar and biomass.
In 2022 over 40% came from these sources.
The UK's capacity to meet more of our energy needs from cleaner sources continues to grow, as more pension funds turn away from risky industries and towards those that provide long term stability.
How does this help grow pensions?
The cost of producing energy from renewable sources has dropped rapidly over recent years. it's now lower than the cost of producing electricity from all fossil fuels.
As this energy has become cheaper to produce, it's become more profitable to sell into the UK's national grid.
Cushon members' pensions benefit from a slice of the profits from the electricity sold.
Why is your money being invested this way?
Our job is to make sure your money has the opportunity to grow for you to use in later life. This means we think carefully about which investments are fit for the future.
We see industries that are stuck in the past, in the way they treat the environment, people and society, as being riskier.
These risks may mean those investments are less likely to grow, and some may even lose value.
At the same time, investments that reduce and absorb carbon emissions, and create climate-friendly assets for the future, provide opportunities for the long term.
Our approach seeks to make the most of the opportunities while reducing the risks, so you can have a future that's worth retiring into.
Article by
Team NatWest Cushon
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