Jane Goodall and Genesis frontman Peter Gabriel have joined forces for a new ad campaign that warns UK savers of their pension investments’ hidden impact on global forests.
The “Saving Jane” advert released on Wednesday shows an animated version of the zoologist saving up money in a pension pot to visit a tropical rainforest in Sumatra, Indonesia, only to discover the money was invested in companies destroying the natural world she wanted to protect.
The film, which features a re-recording of Gabriel’s 80s hit Red Rain, was created by Rewriting Earth on behalf of campaign groups Make My Money Matter, Global Canopy and Global Witness to highlight how pension investments are driving the destruction of nature on a global scale.
It calls on UK pension schemes to urgently publish deforestation policies and develop action plans to tackle deforestation in their portfolios.
The advert also urges the UK government to introduce a law requiring all pension funds to be deforestation free.
It comes as research suggests only 9% of the original tropical rainforest in Sumatra remains intact.
More widely, global rainforest loss continued at a rate of 10 football pitches per minute in 2023, according to figures compiled by the World Resources Institute (WRI) and the University of Maryland.
Ms Goodall said: “When I think of the Jane in that film, I feel sad and very, very angry. It’s truly terrible how much of our money is used in ways that we would never even think of.
“I urge all pension providers out there to remove completely any projects involving deforestation from their portfolios and instead invest in projects that help to protect and restore the beautiful places of our planet for future generations.”
Gabriel said: “I want my great-grandchildren to see and learn from orangutans and all the other animals and plants that we have nearly wiped out.
“Don’t let your hard-earned money be used for deforestation and destruction. Speak out.”
🌳What future are we saving for? Act now for deforestation-free pensions #SavingJane
💷We urge pension providers to tackle #deforestation in their portfolios: https://t.co/aGV8cLxbCa
Read: https://t.co/BazNI40RUb@MMMoneyMatter @Global_Witness @rewritingearth @JaneGoodallInst pic.twitter.com/oKqg4sHy1i
— Global Canopy (@GlobalCanopy) July 31, 2024
It comes as a report from the Pensions Regulator (TPR) published this week found that while most pension trustees meet their environment social and governance (ESG) duties, many achieve only minimum compliance.
Mark Hill, TPR climate and sustainability lead, said: “Trustees should aim to fully demonstrate their engagement with material ESG considerations whether climate impact, nature loss or social factors and invite challenge in the interest of protecting outcomes for savers.”
Around £300 billion of UK pension investments have been linked to deforestation, according to previous research by Make My Money Matter, Global Canopy and Systemiq.
This could mean that for every £10 saved in a pension, £2 is linked to deforestation.
Make My Money Matter’s Climate Action Report 2024 also said that two thirds of the UK’s top 20 workplace pension providers do not have a public deforestation policy.
A recent Censuswide polling found that only 14% of the UK public is aware that their pension could be funding deforestation.
Upon learning about the links between pensions and deforestation, more than 50% of respondents said they think the Government should introduce a law requiring all pensions to be deforestation-free, and pension funds should publish policies on tackling deforestation.
The campaign groups are urging UK pension providers to seize the opportunity to drive transformative change by introducing and publishing deforestation policies this year.
Tony Burdon, chief executive of Make My Money Matter, said: “The Government is failing us by neglecting nature, they need to make pension funds tackle deforestation. And our pension funds are failing us too.
“Most savers are unaware that their money is causing catastrophic destruction of our forests and nature, that threatens not only the planet but their nest egg for the future.”
Timer Manurung, chair of Auriga Nusantara, an organisation that engages in efforts to conserve Indonesian natural resources, said: “Indonesia has seen – and still faces – tremendous forest loss driven by demand for commodities like palm oil, pulp and paper, used to make products all over the world.
“Global financial institutions must act responsibly in choosing where to direct their funds – today’s investments rapidly become tomorrow’s deforestation.”
The PA news agency has contacted the Environment Department (Defra) for comment.
