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.
Net zero commitment
To achieve this we’ll reduce:
Scope 1 and 2 GHG emissions by 90% by 2050, from a 2022 baseline; and
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%.
Workplace diversity, inclusion and equality
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.
Inclusive recruitment
No university degree or prior experience is necessary for most entry level roles, promoting diversity from all backgrounds.
Gender balance
Striving for equal gender representation at every level within the company.
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
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
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
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
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.
Voting Choice
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
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:
Female and minority gender representation across the Board.
Female and minority gender representation across the Executive Team.
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 Russell FTSE4Good
Global Reporting Initiative (GRI)
S&P Corporate Sustainability Assessment (CSA)
Sustainability Accounting Standards Board (SASB)
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
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