Pointon York unveils carbon neutral SIPP investment

Pointon York now allows investors to hold carbon credits in its SIPP.

Working with Carbon Advice Group, which helps businesses reduce and offset their carbon footprints, Pointon York allows investors to buy carbon credits, which are each worth one tonne of carbon dioxide (CO2).

Individuals can offset their own carbon footprint by buying carbon credits, which invest in renewable energy projects in developing nations.

The development follows Pointon York's launch of four Sharia compliant SIPPs in June, aimed at Muslim clients and others looking for ethical investments.

Natalie Oliver, head of marketing at Pointon York, said: "The demand for more ethical investments has grown steadily over the last couple of years and we have seen an increase in customers wanting to hold Socially Responsible Investments (SRI) in their SIPP."

Carbon Advice Group chief executive Matthew Sullivan added: "IFAs have been telling us they felt squeezed in terms of the number of ‘ethical' packages they have available for their clients. This is an exciting new product with broad appeal for the more thoughtful investor who wants to see healthy returns."

The group said it provided online 'track and trace' mechanisms so investors can understand how their investment is linked to low-carbon projects.