Almost two-thirds (63%) of investors think pension and investment providers need to be more environmentally transparent in where they invest their pensions, according to a new report.

Almost one in five (18%) of consumers with savings, investments, and/or a pension placed highest importance on financial services companies ensuring their investments have a positive impact on society over the long term, when surveyed by pension, insurance and investment provider Aviva.

However, both pales in comparison to investment returns. The majority (71%) of consumers surveyed said they just want the highest return for their investment.

Over half (55%) of those surveyed did not know where their money was invested.

Laura Stewart-Smith, head of workplace savings & retirement at Aviva, said: “We find over 90% of people saving for their retirement are ‘pension apathetic’, just using the default fund for their investment. It’s therefore critical that pension providers continually seek to evolve to help ensure consumers know how to invest in a world we all want to retire into.”

In March, Aviva announced a new plan to become a Net Zero carbon emissions company by 2040. As part of its plan, Aviva announced it expected to invest a further £10bn of assets from its auto-enrolment default funds and other policyholder funds into low carbon strategies.

Research was carried out by Ipsos MORI on behalf of Aviva. It surveyed a nationally representative quota sample of 1,498 adults in the United Kingdom aged 18-75 using its online I:Omnibus between 09 and 10 December 2020. 1,111 respondents were identified as having savings, investments, a pension, or annuity. Data has been weighted to the known offline population proportions for age, government office region, working status and social grade in the UK, within gender.