A new animated advert titled Saving Jane, launched by conservation icon Dr. Jane Goodall DBE and featuring an exclusive re-recording of Peter Gabriel’s ’80s hit “Red Rain” offers a startling revelation to U.K. citizens about the hidden cost of their pension investments, which may be funding projects threatening our world’s forests.
Created by Rewriting Earth on behalf of Make My Money Matter, Global Canopy and Global Witness, the 2D campaign video highlights the little-known reality of how pension investments are driving the destruction of nature on a global scale. Deforestation is a key driver of the climate and nature crises: If deforestation were a country, it would be the third-highest emitter in the world. In 2023, global rainforest loss continued at a rate of 10 football pitches (soccer fields) per minute.
Saving Jane follows one saver’s lifelong dream of using her pension pot to visit a tropical rainforest in retirement — only to later discover that the very money she has worked hard to save has been financing companies tearing down the natural world she has long cared for and protected.
“When I think of the Jane in that film, I feel sad and very, very angry,” said Goodall. “It’s truly terrible how much of our money is used in ways that we would never even think of. I urge all pension providers out there to remove completely any projects involving deforestation from their portfolios and instead invest in projects that help to protect and restore the beautiful places of our planet for future generations.”
The story of Saving Jane focuses on the Sumatran rainforest in Indonesia, where only 9% of the original tropical rainforest remains intact. However, it ends on a more hopeful note, empowering viewers to demand deforestation-free pensions and showing how pension savings can be used to protect forests across the world.
“I love the idea of using the leverage we have with our pension providers to transform what’s happening on the ground,” said Gabriel. “Our money is being used to destroy the one habitable home that can provide our descendants with a living planet and the chance of a future. Pensions exist to serve us, so let those who manage them know what we want and expect in no uncertain terms. I want my great-grandchildren to see and learn from orangutangs and all the other animals and plants that we have nearly wiped out. Don’t let your hard-earned money be used for deforestation and destruction. Speak out.”
Added Timer Manurung, Chair of Auriga Nusantara, a non-governmental organization working to conserve Indonesian natural resources and the environment: “Indonesia has seen — and still faces — tremendous forest loss driven by demand for commodities like palm oil, pulp and paper, used to make products all over the world. Our remaining forest-rich areas, like Kalimantan and Papua, are still under threat from the further expansion of plantations. Global financial institutions must act responsibly in choosing where to direct their funds — today’s investments rapidly become tomorrow’s deforestation.”
Directed by Jeanette Nørgaard with associate director Paul Goodenough (who also wrote the short) and produced by Strange Beast, a division of Passion Pictures (the studio behind 2019’s award-winning There’s a Rang-Tang in My Bedroom), the ad aims to raise public awareness of how U.K. pensions are invested in companies driving global deforestation. It calls on U.K. pension schemes to urgently publish deforestation policies and develop action plans to tackle deforestation in their portfolios, and for the U.K. government to introduce a law requiring all pension funds to be deforestation free.
Research conducted by Make My Money Matter, Global Canopy and SYSTEMIQ previously showed for the first time ever the full scale of ties between U.K. pensions and deforestation. £300 billion of U.K. pension investments is linked to deforestation, and for every £10 saved in a pension, £2 is linked to deforestation. Despite this, new public polling shows that only 14% of the U.K. public is aware that their pension could be funding deforestation.
“Pensions are supposed to protect our future. But investments that drive forest loss and worsen the climate crisis do the opposite: they fuel instability and risk our well-being,” Jolene Tan, Strategic Communications Director for Global Canopy, asserted. “To secure a safer world and protect the natural ecosystems that all our livelihoods depend on, pension providers must achieve deforestation-free portfolios. The good news is that the tools, guidance and data are all ready for them to get there.”
Upon learning about the links between pensions and deforestation, over 50% of people think that the U.K. government should introduce a law requiring all pensions to be deforestation-free, as well as believing U.K. pension funds should publish policies on tackling deforestation. However, as shown by Make My Money Matter’s Climate Action Report 2024, 2/3 of the U.K.’s top 20 workplace pension providers don’t have a public deforestation policy.
Naomi Hirst, Forests Campaign Strategy Lead, Global Witness, noted, “U.K. citizens are deeply concerned about nature loss and many feel the country is falling short in addressing this crisis. Biodiversity loss poses a huge economic threat to the U.K. and many people are still unaware their savings are currently helping destroy rainforests around the world. The new U.K. government has pledged to bring an end to the nature emergency — this must include new laws that stop pension funds investing in deforestation.”
In addition, Global Canopy has recently undertaken a full and detailed stock-take of action on deforestation by more than 700 financial institutions (globally) that have strong net-zero commitments as part of GFANZ or related groups. Assessing against best practice, its Deforestation Action Tracker finds that the sector is largely failing to act. 75% (536) of the financial institutions assessed still do not have a public deforestation policy.
The campaign groups urge U.K. pension providers to step up on this urgent issue and seize the opportunity to drive transformative change by introducing and publishing deforestation policies this year. The industry can take steps today using the Make My Money Matter, Global Canopy and SYSTEMIQ Guide on tackling deforestation within portfolio investments.
“The government is failing us by neglecting nature, they need to make pension funds tackle deforestation. And our pension funds are failing us, too,” said Tony Burdon, CEO of Make My Money Matter. “Most savers are unaware that their money is causing catastrophic destruction of our forests and nature, that threatens not only the planet but their nest egg for the future. The retirement of millions of savers is at risk and they want government and pension funds to act now.”
Nørgaard served as director, art director, designer and animation director for Saving Jane, with Goodenough as assistant director, writer, executive creative director and executive producer for Rewriting Earth. The spot was animated by Nørgaard and Campbell Hartley. Amy Ashton was producer on the project.
