As wildfires continue to devastate Rhodes and Corfu, Path Financial’s Managing Director, David Macdonald, is calling on tourists and holidaymakers to reconsider their investments in fossil fuels. The alarming surge of wildfires, flash floods in South Korea and India, and scorching temperatures in China serve as wake-up calls for travellers to examine where their pensions and investments are allocated.
Recent research by Make My Money Matter reveals that £88 billion of UK pensions is invested in fossil fuel companies, with an average of £3,000 per pension holder. Shockingly, 44% of 2,000 surveyed individuals believe their pension fund should vote against Shell’s directors at the recent AGM, while 58% have no knowledge that their money is invested in Shell. More than one-fifth of respondents would switch pension providers upon discovering their savings are linked to Shell.
As extreme weather events wreak havoc globally and communities witness the devastating impact, Path Financial stresses the urgency for individuals to take control of their financial future while making a positive environmental impact. The need to move pensions and investments into green funds has never been more critical, with greening your pension being 21 times more powerful than adopting a vegetarian diet, avoiding air travel, or changing energy suppliers.
Path Financial advocates for responsible investing that aligns with the United Nations’ Sustainable Development Goals (UN SDGs), securing a sustainable future for future generations. By investing in funds that prioritize sustainability, environmental responsibility, and renewable energy solutions, individuals can make a meaningful and lasting impact.
David Macdonald emphasizes the significance of conscious investing, stating, “The wildfires we’re witnessing across Rhodes and Corfu are devastating, and the recent news coverage of families running for their lives has affected us all. We need to take action now and take control of where our money is invested.”
Green funds prioritize investments in companies and projects committed to sustainability and renewable energy, as well as gender equality and poverty eradication. Divesting from companies that contribute to climate change, such as oil, tobacco, and alcohol, and investing in solutions like renewable energy and carbon capture technologies can contribute to achieving the UN SDGs.
As climate-related disasters intensify, Path Financial stresses the importance of diversifying investment portfolios and focusing on green funds that include climate-resilient companies. By choosing to invest in green funds recommended by Path, individuals and businesses can actively contribute to the fight against climate change and promote a sustainable future for the planet.