Large UK banks have been singled out as having the greenest pension funds, new research shows, but not enough UK companies are investing workers’ savings in line with their environmental pledges.

ShareAction, the responsible investment campaign group, looked at 25 FTSE 100 companies managing around £17.5bn in pension savings. It picked HSBC as having the greenest retirement fund, with Aviva, Barclays and Royal Bank of Scotland also praised for implementing reforms.