UK pension schemes are making progress towards net zero alignment but a majority say there are still obstacles the government could remove to assist their work to address climate risk.

Three quarters (74%) of pension schemes have net zero plans in place or will have within the next two years, according to a new survey.

The Treasury plans to amend regulatory principles to align with the Government’s commitment to achieve a net zero economy by 2050.

Mutual life, pensions and investments provider Royal London has committed to net zero carbon emissions across its investment portfolio by 2050.