First Minister Nicola Sturgeon will underline Scotland’s key interests in global issues when she visits the United States next week.
The visit follows the launch of Scotland’s Global Affairs Framework, which sets out the values, principles and priorities underpinning the Scottish Government’s work to become more active internationally.
Reflecting on the impacts of Brexit, COVID-19, the climate crisis and the invasion of Ukraine, the Framework outlines key areas of focus such as global citizenship, maintaining close relations with the EU, gender equality, and respect for human rights.
The First Minister will take part in a range of engagements focused on the interlinked issues of climate, energy security and the war in Ukraine, including a keynote speech at the Brookings Institution in Washington DC.
She will also meet with key congressional groups and discuss ways to create a greener, fairer and more equitable economy with executives of companies operating across the Atlantic.
First Minister Nicola Sturgeon said: “The COVID-19 pandemic and the climate and biodiversity emergencies prove in the starkest possible way that we live in an interconnected world and it is more important than ever that Scotland plays its part.
“The crisis in Ukraine underlines how interconnected these challenges are, and all countries have a role to play in meeting them.
“We are determined that Scotland continues to be a good global citizen, making a constructive contribution to addressing global challenges such as climate change.
“Our international activity creates opportunities at home, broadens our horizons, attracts high-quality investment and ultimately benefits our people – no more evident than in Scotland’s longstanding relationship and strong trade ties with the USA, which this visit will build upon further.
“By being open and connected and making a positive contribution internationally, we give ourselves the greatest possible chance of building a successful country. In this way we can make a contribution to the world that is welcomed, valued and helps us all.”
The Scottish Environment Protection Agency (SEPA) has published its first water scarcity report of the year, with low levels being recorded in parts of Scotland.
The southern half of the country has reached early warning stage and businesses which abstract water should consider how they can be more efficient to protect both the environment and their own operations.
It comes after dry conditions across Scotland in March, with only half of the long-term average monthly rainfall. Groundwater levels at monitoring sites in Fife and Angus are particularly low. Normal amounts for this time of year would have benefited river flows, topped up reservoirs and provided moisture in the soils.
SEPA is responsible for the forecasting, monitoring, and reporting of the situation facing Scotland’s water resources and produces weekly water scarcity reports between May and September.
Head of Water and Planning at SEPA, Nathan Critchlow-Watton, said: “Water is a resource that underpins key industries right across Scotland, including farming, food and drink production, energy and golf.
“We’re already seeing the effects of climate change. Last summer, the north and west of the country experienced its driest April-September in 160 years, while for the whole country it was the second driest on record for the same period. With a decrease in summer rainfall expected, we have to be prepared for increased pressure on Scotland’s water resources, perhaps in places that have never had to deal with water scarcity before.
“Water abstractors licensed by SEPA must have a plan to deal with water scarcity. They should monitor their water usage and equipment to ensure they are minimising use and operating at maximum efficiency.
“Our aim is to work with businesses to do the right thing and protect Scotland’s water environment. We can provide advice and guidance on steps to reduce pressure on rivers at risk of drought. Taking action now will reduce the likelihood of SEPA resorting to regulatory action.”
Businesses can take steps to protect water supplies by planning ahead, reducing volumes and irrigating at night where possible. Operators should also work together to stagger abstractions.
Climate change has already caused a rapid and extensive warming of Scotland’s lochs and reservoirs with impacts expected to intensify, research has revealed for the first time.
A report published today by Scotland’s Centre of Expertise for Waters (CREW), shows that between 2015 and 2019, 97% of monitored Scottish lochs and reservoirs have increased in temperature. While most warmed by up to 1.0°C per year over this period, 9% increased by more than that – some by up to 1.3°C per year.
Researchers warn that these changes increase the risk of harmful algal blooms developing, which could restrict their use for recreation and water supply, and as a safe habitat for wildlife.
It is expected that waters in the south and east of Scotland are expected to warm the most at first, but this climate-related impact will reach all parts of the country by 2040.
The report makes a number of recommendations to address these impacts in the immediate term, as well as further research to improve our understanding of climate impacts on the complex functioning of lochs and reservoirs.
Environment Minister Mairi McAllan said: “This important research provides yet more worrying evidence of the risks of harm from climate change on Scotland’s water environment.
“It is vital that we do more to mitigate those impacts, to seek to reduce the pace of warming but also to adapt to it. We have committed £243 million since 2015 through the Agri-Environment Climate Scheme to support land management practices which protect and enhance Scotland’s natural heritage, improve water quality, manage flood risk and mitigate and adapt to climate change.
“Scotland is renowned worldwide for the quality of our water. Research like this will be hugely valuable in informing the development of policy solutions and measures to mitigate and adapt to climate change, and also protect, restore and enhance these vital natural assets.”
Freshwater ecologist Dr Linda May of the UK Centre for Ecology & Hydrology (UKCEH), lead author of the report, said: “This research has shown, for the first time, that climate change is already warming our lochs and reservoirs in Scotland, and that this trend is likely to continue.
“It provides early warning of the potential impacts of climate change on biodiversity, water supply and recreational use, and highlights the need for mitigation measures to be put in place as quickly as possible.”
Dr Pauline Lang, project manager for CREW, said: “This pioneering research led by experts at the UK Centre for Ecology & Hydrology demonstrates that, without intervention, climate-driven risk is projected to further increase by 2040.
“To prevent the modelled scenarios becoming reality, we trust the recommendations proposed will enable effective climate action for safeguarding freshwaters now and during the critical decades ahead.
“This project is a great example of how CREW can pivot towards Scotland’s water-related needs by bringing a community of researchers and stakeholders together to collaborate on addressing the most important environmental concerns of this time.”
NatureScot Freshwater and Wetlands Advice Manager Iain Sime said: “Scotland, like the rest of the world, is facing an unprecedented climate emergency. The findings of this comprehensive review are stark, demonstrating the impact that climate change is already having on our freshwater lochs and reservoirs, and their biodiversity.
“The need for urgent action is clear, and at NatureScot we are using the £65m Nature Restoration Fund to prioritise efforts that support the conservation of our lochs and ponds.”
Scottish Environment Protection Agency (SEPA) Senior Ecologist Ian Milne said: “CREW’s report, which used SEPA data from 142 lochs and reservoirs, is important in highlighting some of the climate change pressures Scotland’s environment is facing.
“The findings emphasise the significance of SEPA’s ongoing work to tackle the threats of climate change and biodiversity loss, which is being done in partnership with Scottish Government, local authorities, Scottish Water, environment and community groups, farmers, land managers and others through our River Basin Management Plans.”
The National Climate Campaign empowers underserved communities across Scotland with climate change knowledge
Dynamic Earth have delivered a packed programme of events and experiences exploring climate change including the delivery of STEM kits to a local children’s hospital, as part of a National Climate Campaign uniting Scotland’s Science Centres.
The kits, designed for young people, contain a variety of activities and experiments focusing on earth and environmental sciences, with connections to climate change and marine environments.
These boxes give young people the chance to explore connections between ocean depth and pressure, experience augmented reality colouring-in, build their own rope and more, bringing science directly to them wherever they are.
Alongside their STEM kit distribution, Dynamic Earth delivered a series of in-person events and digital programmes reaching over seven thousand people as part of a campaign, building on the legacy of COP26 alongside Scotland’s other science centres.
The centre has been running climate change workshops with community audiences and family learning activities with local primary schools, reaching groups including the Edinburgh Young Carers Project Care for Carers and the Citadel Youth Centre.
Brought together by Glasgow Science Centre, the centres have joined forces to inform, inspire and empower a diverse audience to tackle the climate crisis and ensure the discussion on climate change remains open.
Working together to further climate science education in their communities, the National Climate Campaign saw each centre deliver a coordinated and interactive campaign of over 89 events, reaching over 13,000 members of underserved and underrepresented audiences by the end of March 2022.
The programme strived to make science more relatable and helps learners build up their science skills to understand the world around them.
Elsewhere in Scotland, Glasgow Science Centre have been hosting weekly community visits and film screenings, shining a light on the importance of science in the community and engaging with groups who are unlikely to visit Glasgow Science Centre regularly and can be most affected by climate change and its effect on lifestyle.
In total Glasgow Science Centre have facilitated 16 community group visits this year to the Science Centre, including visitors from Glasgow Disability Alliance, Yorkhill Green Space and African Challenge Scotland.
They have engaged 374 people who may have not visited the centre before, while also offering 3,000 primary school pupils in remote, rural and deprived areas access to their online interactive ‘Learning Labs’.
A highlight from Aberdeen Science Centre’s 20-event programme was last month’s Supper and Science Evening, where families came together to cook an evening meal at Northfield Academy.
While the meal was cooking, Science Centre staff ran a series of climate-themed workshop activities, including one where they recreated an oil spill with feathers and soap, to give the children some hands-on climate science experience.
In Dundee, the team created 150 climate-themed community kits for young people, containing a mini solar-powered windmill as well as other items to show how earth and environmental sciences connect to climate change and marine environments, while also engaging over 1,000 primary school pupils in activities during COP26 Schools Week.
Eilidh Massie, Marketing Director at Dynamic Earth said: “It is so important for people to not only learn about our amazing planet, but also to understand that the Earth’s climate system is something we have taken for granted for too long.
“At Dynamic Earth we’re committed to reminding people, young and old, that we need to act now before the damage is irreversible.
“It has been a fantastic opportunity to work collectively with Scotland’s Science Centres as part of the National Climate Campaign to further these messages.”
Stephen Breslin, CEO of the Glasgow Science Centre said:“We set up the National Climate Campaign to ensure that there is a legacy of climate engagement left behind after COP26.
“We hope that by providing communities across Scotland with our knowledge and resources, we can act as a magnet for climate engagement and help empower young people to make considered decisions and learn what climate change means for them.”
Environment Minister, Mairi McAllan said: “Young people have been among the strongest voices calling for urgent global action to address climate change.
“This campaign will make sure that young people in communities across Scotland continue to play a key role in our journey to becoming a net zero nation, delivering a lasting legacy for COP26, and making their voices heard loud and clear.”
For more information on the National Climate Campaign and Scottish Science Centre’s climate change education programming visit:
Commenting on the latest report from the UN’s Intergovernmental Panel on Climate Change, Friends of the Earth Scotland Head of Campaigns Mary Church said: “The latest IPCC report makes for deeply alarming reading in confirming that the impacts of climate breakdown are more widespread, happening much sooner and having more devastating consequences than previously predicted.
“Tragically, this will come as no surprise to the millions of people fighting for their lives and livelihoods who are on the sharpest end of the all too frequent devastation wrought by the floods, fires, droughts and extreme weather events worldwide.
“The gross injustice of the situation is that the climate crisis is hitting the poorest and most vulnerable people the hardest even though they didn’t create it.
“With current global commitments to climate action putting us on a pathway to a hellish 2.7oC warming, the report highlights the terrible risks of even temporarily overshooting the critical 1.5oC threshold of warming. It warns of the threat of triggering tipping points, turning many of nature’s carbon sinks into carbon sources, and rendering damage to ecosystems we rely on for life itself beyond repair.
“Following all the backslapping at COP26 this report is a stark reminder of the reality of the climate crisis and must serve as a wake up call to governments relying on vague 2050 net zero goals, pathways that overshoot 1.5oC and fantasy techno-fixes. With barely a decade left before we reach this critical threshold we urgently need to focus on the solutions we know are necessary including a rapid and just phase out of fossil fuels.
“Hundreds of thousands of people took to the streets of Glasgow and worldwide last November demanding a response to the climate crisis that puts justice at the heart of domestic and international efforts, transforming our economic, energy, and food systems and putting people and nature over profit.”
Commenting on reports that developed countries, led by the US have attempted to remove references to losses and damages in the report, Meena Raman, Friends of the Earth Malaysia, commented: “It is a disgrace that decades of cowardly decisions by rich industrial nations have led us here, to the brink of climate catastrophe laid bare in this latest IPCC Assessment Report. The United States in particular must accept its role in creating the climate impacts we’re experiencing right now.
“Developed countries’ attempts to remove the concept of loss and damage, and the finance for it from the IPCC report, were largely thwarted, but we condemn this resistance by those most responsible for the climate crisis. This has been a shameless attempt to wriggle off the hook.
“Scientists have confirmed that much more finance must urgently flow from developed to developing countries, to enable the latter to adapt and adjust to irreparable damage from climate impacts. This funding is necessary to secure the wellbeing of their citizens and economies. Without it, our hard-fought progress for equity, equality, rights and justice will unravel.”
The premier awards for forests and woods in Scotland are back for 2022 after a highly successful 2021 saw winners ranging from a tiny nursery school to the country’s largest landowner.
Scotland’s ‘Tree Oscars’ are back for 2022 after a highly successful programme in 2021 saw worthy winners ranging from the country’s largest landowner Anders Holch Povlsen to a tiny nursery school.
Mr Povlsen and Wildland Ltd won the prize for New Native Woods in Scotland’s Finest Woods Awards 2021, for Killiehuntly in the Cairngorms – while Perth Outdoor Playgroup won the award for an early years education provider instilling a love of woods in young children.
The 2022 Awards will see a renewed focus on climate change after forestry and wood played a central part in discussions at COP26. The first Climate Change Champion prize was handed out at the 2021 Awards, with Ayrshire estate owner Andrew Sinclair honoured for his work at Balbeg.
“The award was handed out just two months before COP26, where we saw the signing of a Leaders’ Declaration on Forestry and Land Use, and the launch of the Time for Timber global wood use manifesto,” said Angela Douglas, Executive Director of Scotland’s Finest Woods.
“The world is increasingly understanding that trees and wood are vital to tackling climate change and I’m so delighted that our Climate Change Champion Award is back.”
With 80% of the UK’s new woodland currently being planted in Scotland, and continued Scottish Government support for ambitious tree planting targets, organisers hope for another exceptional set of winners in 2022.
“Anyone with a genuinely high-quality project has a chance to win an award, whether that’s Scotland’s largest landowner or a small nursery school, or a farmer discovering the benefits of trees to an experienced forester creating a model woodland,” said Angela Douglas.
The Scottish Government showed its support for the awards last year, with First Minister Nicola Sturgeon announcing the Schools and Early Years Awards and Environment Minister Máiri McAllan – whose brief covers forestry – revealing the Community Woodlands winners.
Ms McAllan said: “I was delighted to be involved in Scotland’s Finest Woods Awards for the first time in 2021, and to celebrate an amazing collection of winners.
“The addition of the Climate Change Champion and Early Years Awards in 2021 illustrated the importance of woodland in supporting Scotland’s world-leading climate change ambitions – and engaging young people in trees and woods at a young age.
“All the winners were clearly passionate about high-quality woodlands, and I look forward to another year of exceptional entries to celebrate this new golden era of forestry in Scotland.”
The Climate Change Champion Award, sponsored by Carbon Store, is chosen by judges. Category entrants, including schools or nurseries, can choose to enter this award alone or enter more than one award category.
The Climate Change Champion Award has been developed in partnership with Forest Research, who will again provide expert judges in 2022.
Professor Chris Quine, Chief Scientist at Forest Research, led the team assessing the entries, and said the 2021 winner – Balbeg Estate’s Bennan Hill – “demonstrated an integrated approach to tackling climate change throughout its activities with actions relating to mitigation, adaptation and knowledge exchange” and “a strong commitment and a real consistency of vision”.
All the other popular categories return in the long-running Awards, which were held online in 2021 after a 2020 Covid-cancellation.
“We hope to return to a live event at our traditional venue, the Royal Highland Show, as it celebrates its 200th anniversary in 2022,” said Guy Watt, Chair of Scotland’s Finest Woods, the charity which operates the programme. “However, we need to keep our options open and that means planning for a possible hybrid, or entirely online, event, if circumstances dictate.”
Regular Award categories return, including the ever-popular Crown Estate Scotland Schools Award, won by Pitlochry High School in 2021. The Quality Timber Awards return too, with three different categories: new commercial wood, multi-purpose forest or whole estate, and a single stand/compartment or small wood.
The two Farm Woodland Awards are back – the Scottish Woodlands Ltd Trophy for Young People won in 2021 by Nikki and James Yoxall of Howemill near Huntly, Aberdeenshire, and the SAC Consulting-sponsored award for any farm woodland, won in 2021 by Wendy Seel and Anne Taylor, who run an organic vegetable business at Midmar, Aberdeenshire
Entries must be submitted by 31st March 2022.
For full details, criteria and entry forms. see: www.sfwa.co.uk
Three Wee Forests, including two in North Edinburgh, are to provide a range of benefits in the fight against climate change.
The City of Edinburgh Council, Earthwatch Europe, NatureScot and Edinburgh & Lothians Greenspace Trust kickstarted planting “Wee Forests” in the autumn, creating densely packed native forests – covering the size of a tennis court – built into urban spaces.
Edinburgh’s first three “Wee Forests” were planted over the last couple of months. These forests have been made possible through support from the BlackRock Charitable Trust, OVO Foundation – the charity arm of OVO Energy – and the Scottish Government.
The three Wee (or Tiny) Forests – which were planted at East Pilton Park, West Pilton Park and Mount Vernon supported by local residents and primary school pupils – will not only be attractive locations for wildlife, but for people too, and provide a range of benefits in the fight against climate change.
Wee Forests in Scotland are part of the global family of “Miyawaki Forests” or “Tiny Forests”. Following the method – with its emphasis on community engagement, co-design and careful soil preparation – means that Wee Forests meet a consistent global standard so their benefits can be measured and shared.
A Wee Forest is made up of 600 densely packed native trees in a space the size of a tennis court and is capable of attracting over 500 animal and plant species within the first three years. It also provides rich opportunities for engaging young and old alike with the environment and sustainability.
Culture and Communities Convener, Cllr Donald Wilson, said: “These new Wee Forests will allow residents to be directly involved in tackling the nature and climate crises by being involved in the planting, maintaining and development of the forests in their own community.
“The Wee Forests will also help us work towards our goal of being a Million Tree City by 2030 and contribute towards the Queen’s Green Canopy in celebration of The Queen’s Platinum Jubilee next year.
“For each Wee Forest, we look to engage a core group of volunteers called Tree Keepers to act as ambassadors for their local forest. Volunteering as a Tree Keeper is a great chance to get more involved in your Wee Forest’s development and track the amazing environmental impact of the site and I would encourage everyone to find out more by contacting Earthwatch.”
Culture and Communities Vice Convener, Cllr Amy McNeese-Mechan said: “Our green spaces are a hugely important part of our city and I’m delighted that we now have our first Wee Forests and are creating new spaces for people and wildlife.
“A Wee Forest brings the benefits of a forest – connecting people with nature, raising awareness of the environment, helping to mitigate the impacts of climate change, and supporting urban wildlife – right in the heart of our community within urban spaces in the city.
“I’m delighted that more Wee Forests are planned and encourage our communities to get involved.”
Louise Hartley, Senior Programme Manager said: “Wee (Tiny) Forests provide rich opportunities for connecting young people with the environment and sustainability. It’s vital that we give people the knowledge and skills to protect our natural world and inspire them to take positive action from a young age.
“We are delighted to be working with Edinburgh City Council, the BlackRock Charitable Trust, OVO Foundation and NatureScot to bring these inspiring spaces to Edinburgh and other communities across the UK.”
Gemma Gooch, Co-Head Global Social Impact at BlackRock said: “As more and more people live in urban areas, Wee (Tiny) Forests have the potential to help capture carbon emissions, increase biodiversity and contribute to a more climate resilient society.
“We are very proud to support Earthwatch Europe with this initiative, reminding us that there are ways we can help fight climate change in our own local communities.
Gaby Sethi, Head of OVO Foundation, said: “We’re passionate about educating the younger generation on how to reduce their carbon footprint, protect the physical environment, and limit their impact on the planet.
“Tiny Forests help children learn about the environment and sustainability in a really accessible way. By planting Tiny Forests in urban communities across the UK with Earthwatch, we will help connect children with their local green spaces and show them how they can protect it for future generations.
NatureScot Chief Executive Francesca Osowska said: “The Covid 19 pandemic has shown us just how important it is for people’s health and well-being to have opportunities to connect with nature close to where they live.
“These Wee Forests are not only a great way to make space for nature in our towns and cities, but they’ll also help communities become more resilient to the impacts of climate change, which is particularly important as we look ahead to COP26 and the huge challenges and opportunities facing us.
Charlie Cumming, Chief Executive, Edinburgh & Lothians Greenspace Trust said: “We are delighted to be a local delivery partner for the Wee Forest project. The creation of the Wee Forest is very important for people and wildlife, particularly with it being in an urban environment.
“It will provide the local community and schools with the opportunity to help tackle nature loss and the current climate emergency as well as contributing to Scotland’s tree planting targets.
“It will enable people to engage with nature on their doorstep and inspire young people to take an active interest in their local environment.”
The Scottish Government’s record on climate change and the COVID-19 pandemic will be under the spotlight when the Scottish Parliament’s Committee Conveners meet later this month to quiz the First Minister.
For the first time in Session 6, the Conveners Group will hold a public evidence session with First Minister Nicola Sturgeon MSP. The session will take place on 15 December.
The session, which will last almost two hours, will also see the First Minister take questions on the Scottish Government’s budget.
Speaking ahead of the session, Deputy Presiding Officer and Chair of the Conveners Group Liam McArthur MSP said:“The Scottish Parliament’s Committees play a crucial role in our democracy by scrutinising the Scottish Government and making sure those in charge of running the country are being held to account.
“This session will allow Conveners collectively to raise cross cutting matters of real concern such as climate change and the COVID 19 pandemic with Nicola Sturgeon. As such it is a welcome addition to the various ways in which the Parliament carries out its role.
“I expect there will be robust questioning and some spirited debate. As the new chair of Convener’s Group I’m looking forward to it immensely.”
£13 million to improve recycling and cut emissions
More than £13 million has been awarded to local authorities to increase the quantity and quality of recycling in Scotland.
Nine more local authorities have successfully bid for support from the Scottish Government’s Recycling Improvement Fund, bringing the total investment to date to £20 million.
The city of Edinburgh will receive £7.7 million for upgrades and expansion to recycling collection services which will see services improved for approximately 130,000 households.
The fund, which will total £70 million over five years, will deliver a step change in Scotland’s recycling performance and help local authorities get ready for future developments, including Scotland’s Deposit Return Scheme.
The investment to date could reduce CO2 emissions by as much 21,400 tonnes each year — the equivalent of taking 11,400 cars off the road.
Circular Economy Minister Lorna Slater said: “This is one of the biggest investments in recycling in Scotland in a generation.
“By providing the support that’s needed to modernise local recycling infrastructure, we can help local authorities significantly improve their recycling performance.
“That won’t just make it easier for households to recycle more – it will also make an important contribution to meeting Scotland’s ambitious climate targets.
“I look forward to seeing these projects deliver for local communities and the environment, and to further innovative ideas from local authorities on how they can utilise this fund to improve recycling in their area.
“We also want to see materials remain in use for as long as possible before they are recycled. To help make that happen, we will also be introducing an ambitious Circular Economy Bill during this parliament.”
Iain Gulland, Chief Executive, Zero Waste Scotland said: “These awards represent a major new development in Scotland’s recycling story, with nine more impactful projects from across Scotland which make the most of our resources, boosting recycling and the circular economy.
“We’ve been impressed by the thinking from councils and look forward to even more transformational projects being brought forward next year.”
Councillor Steven Heddle, COSLA spokesperson for Environment and Economy said: “Local Government in Scotland is fully committed to combatting climate change and supporting the Just Transition to a net zero society.
“A circular economy is an important part of this. The Recycling Improvement Fund projects announced today demonstrate the range of work and level of innovation undertaken by Councils here.
“We are keen to see the full fund supporting a wide range of projects in the next few years that make it easier for our citizens to recycle and reduce waste.”
The city council has welcomed the announcement.
Councillor Lesley Macinnes, Environment Convener, said: “We really welcome this funding and endorsement from Zero Waste Scotland for our new modern communal waste and recycling service.
“It’s a significant contribution to our overall delivery budget which will help us provide this improved service to around 130,000 residents who live in shared properties and therefore don’t have our kerbside service.
“The new convenient hubs make recycling easier and more accessible for residents as we’ve grouped all of the different types of waste bins together.”
Councillor Karen Doran, Environment Vice-Convener, said: “This significant funding shows great support for our new communal bin hubs which provide increased capacity, a more reliable and frequent service as well as reducing overflowing bins and street clutter.
“The funding will also be used for new bin sensors and five new electric vehicles for our fleet helping towards Edinburgh’s net zero ambitions and making improvements to our air quality.”
Almost nine in ten (87%) of adults in Edinburgh class themselves as ‘climate conscious’
However, over three fifths (66%) of pension holders are unaware their pension could help fight climate change
Almost half (46%) of pension holders in Edinburgh want their pension to be invested responsibly.
New research from the UK’s largest mutual pension and investment company, Royal London, reveals that over three fifths (66%) of pension holders in Edinburgh are unaware that their pension could be invested in ways to help fight climate change.
Only one fifth (18%) of pension holders from the city currently invest their pension responsibly, but 46% say they would like their pension to be invested more responsibly.
What does investing responsibly mean?
Terminology can be confusing. A third (34%) of adults in Edinburgh are familiar with the term ‘responsible investment,’ but only a quarter (25%) per cent actually know what it means and understand its collective power to protect the planet. Men are more likely to be familiar with the term responsible investment than women (69% vs 50%) across the UK.
The power of pensions
A third (33%) of pension holders in Edinburgh said they would consider investing a portion of their pension responsibly. Over a fifth (22%) were willing for over half their pension to be invested responsibly. With one in ten (13%) wanting between 90% and 100% of their pension invested responsibly.
Pension holders across the UK were also asked what criteria they would like a responsibly invested pension to consider, with climate change and protecting the environment (43%) being highly rated in Edinburgh. Social factors such as health and safety (40%) and use of plastic (30%) following closely behind.
Sarah Pennells, Consumer Finance Specialist at Royal London, said: “It’s encouraging to see that so many people consider themselves to be climate conscious and our research shows that the nation is taking steps forward to improve the health of the planet.
“But we all need to look at our finances and their collective power to do well and do good. From helping reduce emissions to promoting diversity, pensions can be invested to support individuals in retirement whilst helping us all move towards a more sustainable world.”
With over half (57%) of UK 18-24-year-olds wanting their pension investments to harness a more sustainable planet, compared to just over a quarter (29%) of 65-year-olds and over, it’s clear there is still more that can be done to build a better understanding of inter-generational financial resilience for the future.
Finding out how to invest more responsibly
The research also found:
Over half (54%) of pension holders in Edinburgh do not know how their pension funds are invested.
Those who want to find out more about responsible investment would mostly value the advice of financial advisers (28%), free guidance services, such as MoneyHelper (16%), or their family and friends (6%).
Over a quarter (26%) would carry out their own research to find out about responsible investment.
Royal London’s Invested Generation campaign recently launched a Facebook community https://www.facebook.com/groups/theinvestedgeneration/ which provides a range of support and resources for UK pension holders as to how they can best invest responsibly.
In addition, more information is also available on the Royal London website:
