Our net zero commitment

31 March 2022

As one of the UK’s largest pension funds, we know that how and where we invest matters. We firmly believe that investing responsibly supports long term value, reduces risk, and contributes towards better outcomes for everyone.

Climate change is a clear and present risk to the Scheme, not just a future risk. That’s why we’re announcing today an ambitious 2040 net zero greenhouse gas emissions goal.

Getting to net zero will involve both reducing emissions from our portfolio and investing in assets that will support the transition towards a low carbon economy. We’ve already made progress, but we know we need to do more. The first step in our net zero journey will be to reduce our carbon emissions by half by 2030.

This is not something we can do alone, we’re working hard with our advisers and appointed investment managers to make this a reality. You, our members, can also make a difference by choosing to receive digital communications which will help reduce the Scheme’s carbon emissions.

M&S has been leading the way on climate change for decades and we’re working together to help make sure the Trustee reaches its goal. You can find out more about M&S’ journey to net zero here.

This summer we’ll be publishing our first Climate Change Report, which will provide more information about our net zero goal and our journey towards it. It will also share more information about how the Trustee will manage the risks the Scheme may face in the challenge to combat climate change.

We’re committed to making a difference and sharing with you what we’re doing and why it matters.