Work and Pensions Secretary of State Thérèse Coffey has urged
world leaders to follow the UK’s lead in the fight against
climate change during talks at COP26.
In a speech to mark Finance Day, she outlined how the UK is
leading the world in mobilising billions of pounds of climate
finance, particularly through pensions funds, to help power the
UK to net zero.
The Pensions Secretary also talked through the UK’s
agenda-setting progress in the financial sector, during
discussions with international counterparts, panel events and
roundtables.
While there, she took part in a Green Horizons panel discussion
and met representatives of finance giants Blackrock, Legal and
General, and Willis Towers Watson.
Work and Pensions Secretary of State Thérèse Coffey said:
COP26 must be a defining moment for the world to get to grips
with climate change.
Our pensions can be a superpower that delivers prosperity for
people and the planet in our race to net zero and by following
our example, I sincerely hope others around the world can unlock
a similar power and propel our world to net zero.
The UK is the first country to legally require pension trustees
to assess and publish the financial risks from climate change,
helping make pensions better for people and planet.
And last month, the UK Government set out its expectations for
pension schemes to measure and publish how the investments they
make support the goals of the Paris Agreement climate goal of
striving to limit global warming to 1.5C.
In addition, the Department for Work and Pensions is supporting
the green jobs revolution. Through wide-ranging programmes,
including Kickstart, Sector-based Work Academy Programme (SWAPs),
traineeships and skills bootcamps, alongside the tailored support
of our dedicated Work Coaches, the department is helping pivot
the nation into new, growing sectors – and putting the UK at the
forefront of a green recovery. The Kickstart Scheme alone has
connected young people with exciting new green jobs right across
the country - from biodiversity roles in Telford, energy
efficiency advisers in Yorkshire, and roles combating air
pollution in Hendon.
