Legal & General

Is Legal & General an ethical UK pension provider?
Legal & General is a financial services provider that offers life insurance, pensions and investment services.

Legal & General unfortunately does not reach our minimum Ethical Benchmark and has a low score on the Ethical Pensions Ratings Table. As a result, it cannot be classed as an ethical pensions brand.

Even though it has not yet met our minimum Ethical Benchmark, as its score is close to reaching the threshold, we still recommend that Legal & General apply for Ethical Accreditation. This would allow The Good Shopping Guide the opportunity to provide it with an assessment and some detailed recommendations on how it could improve its score.

To find out how other brands within the Ethical Pensions sector score against Legal & General, visit the Ethical Pensions Ratings Table. The Ratings Table can tell you more about the criteria that a brand must reach so that it can meet our minimum ethical benchmark.

What do Legal & General receive a top rating for?
Legal & General receives a top rating for The Good Shopping Guide’s Environmental Report category.

The brand has a recent Sustainability Report which includes details of its targets and commitments, which demonstrate that the company is working to improve its environmental record.

What do Legal & General receive a bottom score for?
Legal & General receives a middle score under our Other Criticisms category.

A 2020 report by Global Canopy reveals that some major institutional investors including Legal & General lack any zero-deforestation policies. Within the report, it is claimed that by failing to set clear policies to stop the damage of deforestation in the Amazon, large financial institutions are fuelling the issue.

After wildfires in the Amazon made headlines in 2019, 251 investors signed a statement which urged companies to do their part in halting the destruction of the rainforest. However, Global Canopy’s report found that only a handful of the financial institutions have made any progress.

What can Legal & General do to improve its score? 
Legal & General’s score within The Good Shopping Guide is the outcome of a calculation of multiple ethical criteria.

If it were to improve upon its bottom score for its Responsible Investment Policy, Legal & General could see its position rise on the Ethical Pensions Ratings Table.

Even though it has a below-benchmark score, we still encourage Legal & General to apply for Ethical Accreditation so that we can offer it some guidance on how to become one of our best pension providers.

Would your insurance brand benefit from Ethical Accreditation? Visit The Good Shopping Guide’s Ratings Tables to see which other brands within the Ethical Pension sector have received our ethics and sustainability certification. If you would like more information, get in touch or fill out a Free Initial Assessment form.