Socially Responsible/Ethical Lifetime ISA?

sevenhills

sop12hw wrote: »

SevenHills - I completely agree. There seems to be different stances on Shell e.g. ftse4good listing, the "you'll have to exclude every company that uses oil as well" narrative vs promoting pollution and evil oil barons. I'd be interested in your view! (The future is electric anyway! )

I have a diesel car, electric is way too expensive, the difference between the co2 footprint of deisel compared to electric is minor, compared to public transport or just working and shopping more locally. I do less than 5,000 miles in my diesel car. I have solar panel on my house roof, but the electric doesnt even power a 50% of my domestic use, so it wont power any electric car.

The future maybe electric, but that is being pushed by Governments, but it will not solve climate change.

colsten

sevenhills wrote: »

I have a diesel car,

Ethical diesel car? I never stop learning :rotfl:

sevenhills

Every year we burn around 275m tonnes of petroleum for diesel in cars, vans and trucks in the EU alone.
We’ll need clean electricity to run the vehicles and to produce the cars and batteries.

sop12hw

Username 999 - that's interesting, I didn't know that. I'm not sure it totally cancels out historical harm in the industry but it's good for the future!

Doneby55 - thanks! I'm not familiar with that one, I'll have a look

Kinger 101 - basic taxpayer but I may tip over the threshold in a couple of years. Thank you for that link- that looks incredibly helpful!! :beer: I have been struggling to keep track of different funds and compare them - lots of familiar names on that page. And thanks re geographical balance

SevenHills - interesting, thanks for your thoughts. I don't know about the wider impact of electric but yes (@colsten) seems fairly out there to argue diesel cars are more/equally ethical! it's probably is more about lifestyle change as you suggest. Good point about solar panels... You probably know already, but I've seen electric cars that act as batteries for house power from the driveway - charging at a lower electric cost overnight, then powering the house by the day. Agree v expensive at the minute though

bowlhead99

sevenhills wrote: »

Every year we burn around 275m tonnes of petroleum for diesel in cars, vans and trucks in the EU alone.
We’ll need clean electricity to run the vehicles and to produce the cars and batteries.

In terms of clean(er) electricity sources it is worth noting how UK's electricity generation mix has changed in recent years with cleaner sources coming in and replacement of dirty coal with dirty (but less dirty) gas, and cleaner alternatives.



Source of the graph is no more authoritative than 'someone on the internet' as I borrowed it from a reddit link, though electricinsights.co.uk appears to be a partnership between a lecturer in Sustainable Energy at IC and Drax, who like to promote their delivery of biomass, hydro and gas solutions as a vision of low carbon future.

kinger101

sop12hw wrote: »

Basic taxpayer but I may tip over the threshold in a couple of years.

Once you're into higher rate, additional pension contributions will beat LISA.

LISA gets a 25% upgrade (the same as BR with salary sacrifice).

Pensions effectively get taxed at 15%, so each £1 in there is worth 85 p to you.

Without salary sacrifice it costs 60p (85/60 = 1.417, i.e. 41.7% uplift)

With salary sacrifice it costs 58 p (85/58 =1.466, i.e 46.6% uplift)

If you get an annual bonus that pushes you into HR tax, there is actually a sweet spot under salary sacrifice where you effectively got both 40% tax and 12 % NI relief on some of your contributions, which pushes that uplift to a whopping 77%.

One other option to consider if you're likely to get steady progression well above HR threshold is keeping the money in an normal S&S ISA then drip-feeding into pension in later years to get the enhanced relief.

Prism

A couple more funds that I use. Even if you don't use them they provide some interesting reports on ESG

https://www.fundsmith.co.uk/global/sef/sustainability-factsheet
http://www.montanaro.co.uk/our-funds/impact/better-world-fund

sevenhills

bowlhead99 wrote: »

Source of the graph is no more authoritative than 'someone on the internet' as I borrowed it from a reddit link, though electricinsights.co.uk appears to be a partnership between a lecturer in Sustainable Energy at IC and Drax, who like to promote their delivery of biomass, hydro and gas solutions as a vision of low carbon future.

I thought it was too high, checked and renewables account for 38% of our electricity. I was surprised it was so high, although they do add some wood into that.

Username999

I feel sorry for the Camels of Australia who are to be killed just for farting.

sop12hw

bowlhead99 - interesting! Btw I enjoy reading your posts on this forum, thanks for contributing I am interested by nuclear power as an energy source and how it will be used in the future... seems to divide the green/ethical crowd

kinger101 - thank you again! Very clear explanation and good point. I work in the public sector so no bonuses for me sadly, but I will definitely look out for that "sweet spot" when I get there! :dance: thanks re drip-feeding, I'll look into that (and/or open a SIPP when I get into HR territory maybe.....)

Prism - thank you!! I will look at them, I appreciate the recommendation and will definitely read the reports

Enjoying learning from you all, so much experience on this forum... thanks "The more I learn, the more I realize how much I don't know" (Einstein!)