News and Analysis | Richard Ravelin | August 9, 2022
Bothered by BP? Why it makes sense to green your pension and investments with Path’s Climate Solutions Portfolio
In the past week (2nd August), oil and gas giant BP announced a near record high of £6.9 billion profit in the last quarter, triple what they made for the same period last year. Greenpeace UK’s head of climate Kate Blagojevic pointed out that “..these are the same companies responsible for pushing our world closer to catastrophic climate change. This isn’t right.”
BP has justified its extensive profits by pointing to their ‘Backing Britain’ campaign, where earlier this year it pledged to put £18billion into the UK’s energy network by 2030 and have a net zero target by 2050. Its profits are supposedly going to help to bring more secure energy to businesses and customers and curb the current energy crisis.
However, BP have also warned that the prices of energy won’t decrease any time soon due to the war in Ukraine.
It’s easy to feel powerless. But here at Path we are firm believers that customers have more power than they often realise – even when faced by behemoth organisations like BP. And that’s why it’s so important to make your money matter and move your pensions and investments from where they are doing harm.
Path is dedicated to impact investing which means we screen out any companies or funds that are harming people or planet. With our dedicated Climate Solutions Portfolio, you can also actively choose to invest in companies that are actually trying to solve the climate crisis, rather than the ones causing it.
Created specifically for customers looking to tackle the climate emergency with their pensions and investments, money invested in the Path Climate Solutions Portfolio is not just aligned with UN Sustainable Development Goals (SDGs), it’s focused on tackling climate change.
We believe this new portfolio to be a first for the UK, and the future of UK pensions and investments if we are going to reach Net Zero goals. If the UK is serious about being fossil free by 2035, there has to be systemic change in the way our current financial model operates.
The Path Climate Solutions portfolio is the optimal choice for helping to tackle the climate crisis. It’s not just green, but deep green. It’s the best climate solutions tilt to a portfolio, whilst also offering the prospect of superior investment returns.
These are uncertain times but remembering that you can always take positive action by reviewing your financial plans and seeking expert advice from Path.
We offer tailored advice for your individual situation, your needs and concerns. Your dedicated Path adviser can answer any questions you may have on aligning your money with your values. Get in touch with an adviser at Path to see how you could ethically invest for a greener future.
As always with investments, your capital is at risk. The value of your investment can go down as well as up, and you may get back less than you invest. This information should not be regarded as financial advice.