UK pension funds need to invest more in infrastructure

A senior executive at the UK's National Wealth Fund, Ian Brown, stated that pension funds are not taking enough risks and need to invest billions in infrastructure projects to help achieve net zero carbon emissions by 2050. He emphasized the importance of funding construction rather than just operational projects. The UK government aims to consolidate £1.3 trillion of pension assets to boost the economy, which contracted unexpectedly in January. Plans to merge pension funds into larger "megafunds" could unlock up to £80 billion for investment, with details expected this spring. Brown noted that the UK must invest tens of billions more annually to meet net zero goals. He highlighted the need for reforms to planning processes to attract more investment in infrastructure, as many projects face delays or cancellations.