People want to know what their pension money does in the world. Big claims won’t do it. Detail is what makes your story land.
Pension schemes are publishing more about responsible investment than ever before. And members are increasingly asking where their pension money goes. Put those facts together and you would expect well-informed savers.
There’s a problem, though. Much of what schemes publish on ESG exists in long reports that prove they’ve done what they’re supposed to do. That work is necessary and a lot of it is careful and thorough. But financial disclosure for regulation is not the same as helping someone understand what’s happening to their money, and why it matters.
I chaired Quietroom’s Wednesday Wisdom session on this, with Marianne Powell, a sustainability communications consultant, and Caroline Hopper, Responsible Investment Communications Manager at People’s Partnership. Here’s what we talked about, and some tips that could change your next report.
Start with what savers actually want
Caroline spent 10 years at Quietroom before joining People’s Partnership. While she was here, she and our colleague Dom Ellis ran research into what UK savers wanted to know about responsible investment. They found that people wanted the top line first: how is my money connected to climate change, and what’s it doing? People also wanted a few real examples and a small number of clear figures.
Taking that insight forward, Caroline’s team at People’s is now building web pages that summarise their climate and responsible investment reports. The wording on these web pages gets tested with members first, and the full documents sit behind a link for anyone who wants them.
Be specific and name things
Marianne made the point that specific, concrete language lands better than broad, vague claims. She showed us an impact report from retailer Patagonia. It does not say the company supports animal conservation. Instead it says it helped buy 8,000 acres beside a named wildlife refuge, home to Eastern Screech-Owl chicks.
One version is forgettable; the other you can picture. If you can picture something, you’re more likely to care about it.
To find a vivid story you can tell, ask an asset manager to talk through a recent decision. But don’t ask for a ‘story’, Marianne recommends, because that can make people freeze. Simply ask them to talk through what happened, and who were the places and people (or animals) involved.
Say the awkward part out loud
Members respond well to the truth, even if it’s complicated. People’s Partnership talks openly about investing in an airline and a mining company. It then explains what it’s pushing those companies to do: sustainable aviation fuel, and better safety for people working at mining sites.
Honesty also protects you from greenwashing. Sweeping claims are what get businesses into difficulty. A named company, a named place and a named change is much harder to argue with.
Accept that your members disagree
A recent People’s survey found the full range of views. Some members would move their pension if it were not invested responsibly. Others called climate change a hoax and asked to stop receiving emails about it. No single message can reach everyone.
What people do agree on is returns. So lead with the money: explain that investing responsibly is how you protect and grow someone’s pension pot. Then segment, and send the climate detail to the people who want it.
Three things to try in your next report
- Pick one holding in your portfolio, and write 100 words on what that company does and where. Publish this along with your report.
- Replace one general claim with a named company, place or number.
- Include one example that involves a trade-off, and state what you are pushing to change.
None of this needs a large budget or a dedicated storywriting department. It needs a decision to write for members first. This is not a communications job alone. Investment and comms teams need to work closely together, to understand both the fiduciary detail and how to bring it to life for members.
Watch the full session below.
