Environmental, Social and Corporate Governance

As a leading pension company we’re conscious of the environmental, social and corporate governance impact we can have. We intend to use our influence to build a better future - for our customers, society and the planet.

Plant, sun, solar panels and laptop illustration

Net zero commitment

PensionBee commits to achieving a long-term reduction in greenhouse gas (GHG) emissions across all operations and investments in line with the Paris Agreement.

To achieve this we’ll reduce:

Yellow tick

Scope 1 and 2 GHG emissions by 90% by 2050, from a 2022 baseline; and

Yellow tick

Scope 3 (category 15 GHG protocol) by 90% by 2050, from a 2019 baseline.

We commit to reviewing our target ambition and metrics regularly. This is to ensure that we remain aligned with the best understanding of the science required to achieve 1.5C limited warming by 2100.

We offer fully remote working to all employees and we only use cloud-hosted web services, removing the need for servers. Our website is powered by 100% renewable energy and our London office uses 100% renewable REGO sustainable green electricity.

In 2023, we received a special recognition from the Mayor of London for being a leading London business taking action to reduce energy consumption and carbon emissions by over 10%.

Yellow trophy illustration

Workplace diversity, inclusion and equality

PensionBee has a well-established history of fostering diversity and inclusion, aligning with our vision of living in a world where everyone can look forward to a happy retirement.

We believe that one aspect of achieving a happy retirement is social inclusion. Our diverse workforce helps us to build a truly inclusive product that reflects the needs of society and serves hundreds of thousands of pension savers across the UK.

Illustration of group of people

Inclusive recruitment

No university degree or prior experience is necessary for most entry level roles, promoting diversity from all backgrounds.

Gender balance illustration of people on a seasaw

Gender balance

Striving for equal gender representation at every level within the company.

People spot illustration

Ethnic diversity

Aiming to reflect the diversity of the UK population*, including Asian/Black/Mixed/Multiple/Other ethnic backgrounds, at all organisational levels.

For 2023, 37% of the workforce, 10% of management and 14% of the Board self-identify as coming from a minority ethnic group.

Our Diversity, Inclusion and Equality Policy outlines our approach and commitment to diversity, and includes our broad goals and progress so far.

*Using 2021 UK Census data

pensionbee team photo
For 2023, 37% of the workforce, 10% of management and 14% of the Board self-identify as coming from a minority ethnic group.

Our Diversity, Inclusion and Equality Policy outlines our approach and commitment to diversity, and includes our broad goals and progress so far.

*Using 2021 UK Census data

pensionbee team photo

For 2023, 37% of the workforce, 10% of management and 14% of the Board self-identify as coming from a minority ethnic group.

Our Diversity, Inclusion and Equality Policy outlines our approach and commitment to diversity, and includes our broad goals and progress so far.

Using 2021 UK Census data

Image of colleagues working on laptops tigether
photo of pensionbee customer
Yellow quotation marks

I am happy to have found a pension that makes preserving and improving our society and planet the central focus. PensionBee’s Impact Plan gives me peace of mind that my pension is working to create a healthy world to one day retire into.

Sebastian

PensionBee customer since 2019

ESG exclusionary screens

At PensionBee, we believe in the importance of integrating material ESG factors into our investments. We do this to benefit both the long term financial interests of our customers, our society and planet.

Directed by our customers, we seek to apply baseline ESG exclusionary screens where both the asset class and the plan investment objectives allow. For example, screens can be applied to company shares (equities) and fixed income. However, they can't yet be applied to gilts, government bonds, cash or alternative investments such as commodities or where a plan has another objective, such as religion-based investing, or a target return.

Working with our asset managers, we’ve screened out companies that cause catastrophic harm to the environment and society through their business activities. For example, manufacturers of controversial weapons and tobacco producers. In addition to the baseline screens, we seek to reduce our overall exposure to other sectors, such as thermal coal and gambling over time.

For a full breakdown of screening by plan, you can go to the PensionBee ESG Policy.

Div fade
two hands voting illustration

Voting Choice

PensionBee acts as a responsible asset owner and we’re led by our customers on their voting preferences. We do this by surveying customers to understand how they best want to drive change in the companies their pensions are invested in.

BlackRock and State Street Global Advisors granted us “Voting Choice” from the 2023 proxy voting season onwards. Voting Choice enables institutional clients, such as PensionBee, to participate in voting decisions at the Annual General Meetings (AGMs) of the major global companies where they are asset owners.

We use ISS’s Socially Responsible Investment (SRI) voting policy in the Tailored, Tracker and 4Plus Plans. These plans represent 85% of the asset base. We publish a voting record on our ESG Document Hub when the data is available from ISS.

Gender equality

PensionBee is a vocal advocate of gender equality. We believe everyone deserves a happy retirement, regardless of gender.

Since 2020 we’ve published our UK Pension Landscape to draw attention to the huge pension gaps that exist across the UK. We’ve created a dedicated Gender Equality page to publish all our progress in reaching gender equality across our business and as part of the Bloomberg Gender Equality Index.

For 2023, we achieved:

57%

Female and minority gender representation across the Board.

50%

Female and minority gender representation across the Executive Team.

51%

Female and minority gender representation across the entire employee base.

ESG benchmarking

PensionBee participates in and has received recognition across numerous ESG frameworks, raters and indices. 

FTSE 4 Good logo

FTSE Russell FTSE4Good

Global Reporting Initiative (GRI)

S&P Global logo

S&P Corporate Sustainability Assessment (CSA)

Sustainabiligy Accounting Standards Board (SASB) logo

Sustainability Accounting Standards Board (SASB)

Workforce Disclosure Initiative (WDI) logo

Workforce Disclosure Initiative (WDI)

Institutional Shareholder Services

EthiFinance

London Stock Exchange Group (Ex-Refinitiv)

Additionally, we’re an active participant in the United Nations Global Compact (UNGC) and have made a commitment to conduct our business in alignment with universal sustainability principles.

Please find more information in our Annual Report 2023

Download now
You can find more information on PensionBee’s ESG reporting frameworks and climate reporting on our ESG Hub.

Be pension confident!

Combine your old pension pots into one new online plan. It takes just 5 minutes to sign up.
Get started
Mobile phone with retirement planner screenshot

Have a question?Call our UK team020 3457 8444

Monday-Friday: 9:30am-5pm