Some 36% of UK consumers with a workplace pension told independent consultancy Barnett Waddingham that they have made changes recently.

In November 2021, just 20% of people had done so.

Barnett Waddingham’s research found a strong appetite for money to be invested responsibly.

Most savers believe that their pension providers should not use their money to invest in things which harm people, such as weapons and tobacco, or businesses which may harm the planet such as oil and gas.

Two-fifths strongly agreed that their provider should avoid the likes of weapons and tobacco, with women particularly impassioned.

Half of women strongly agreed, compared to just a third of men.

Similarly, two-thirds of people agreed that pension providers should be setting goals on climate change when deciding on how to invest their cash, such as achieving net zero emissions by 2050.

Sonia Kataora, partner and head of DC investment at Barnett Waddingham, said: “The British public strongly believes that its money should be used in a way which helps fight climate change and helps the country, and cannot be used to cause harm.

“This will be music to the ears of policymakers who are keen to harness the power of DC funds.

“However, trustees and pension scheme managers also have a responsibility to their members to generate the best returns at the appropriate risk level, to ensure the best outcomes for people at retirement. This balancing act will remain front-and-centre in the coming months.”

She said it was critical that trustees of all DC schemes sit up and pay attention to the appetite of members for responsible investing.

“It’s vital that trustees, investment providers, and consultants work together to stay at the front of the sustainable investing curve by developing solutions that both address the risks involved with climate change and other areas of sustainability, but also harness the huge number of opportunities to drive returns.

“Ultimately, this will improve member outcomes and maximise the amount that people have at retirement.”