Scottish Widows has said it will aim to cut the carbon footprint of its investments by 50% by 2030 and to net zero by 2050.

The company also said it will invest in renewable energy, low-carbon buildings, and energy efficient technologies. Scottish Widows’ strategy for achieving net zero follows the Institutional Investors Group on Climate Change’s net zero investment framework.

Head of pension investments Maria Nazarova-Doyle said the 2030 and 2050 commitments would provide a long-term safeguard for customers’ investments.

“Our first responsibility is always to our customers and ensuring we are looking after their investments for the long-term,” she said. “Moving to net-zero will protect savings against climate-related risks and uncertainty and offer longer-term sustainable growth by accessing low carbon transition opportunities.”