Financial advisers recognise the importance of scale as the workplace pensions market consolidates, but providers will need to do more to demonstrate how it translates into better outcomes for members, according to new research¹ from People’s Pension².
More than half (51%) of advisers believe scale will become an increasingly important differentiator between workplace pension providers, versus just 8% who disagree. At the same time, only 11% believe smaller providers can continue to compete effectively with larger schemes, underlining the increasingly important role advisers expect scale to play as the market evolves.
However, advisers are looking beyond size alone when assessing DC providers. A quarter (25%) believe scale delivers important operational advantages but does not necessarily translate into better retirement outcomes, while only 9% believe increasing provider scale directly improves member outcomes.
People’s Pension also found that the majority (58%) of advisers say member outcomes and support matter more than cost alone, versus a small minority (12%) who disagree. The findings suggest advisers increasingly expect providers to demonstrate how scale translates into tangible benefits for members.
The research comes as the Pension Schemes Act accelerates the next phase of workplace pension reform, with greater emphasis on consolidation, value for money and improving member outcomes. Against that backdrop, advisers recognise the benefits that larger providers bring, but need more evidence they are using their scale to deliver consistently better member outcomes.
Stuart Reid, Distribution Director for Climate Bonds has approved a new Certification pathway for residential buildings in Colombia, recognising projects certified under the CASA Colombia’s rating scheme as eligible for Certification under the Climate Bonds Standard, subject to additional climate performance requirements. The proxy was launched yesterday at the CONSTRUVERDE 2026, which presented the Alianza Internacional de CASA. This project was supported by the IDB Invest and Climate Bonds Initiative.
The new proxy applies to new residential buildings certified under CASA Colombia v3 and v3.1, developed by the Consejo Colombiano de Construcción Sostenible (CCCS). The update provides a locally relevant, science-based route to Certification, helping issuers demonstrate alignment with international best practice while supporting the growth of Colombia’s sustainable finance market.
The approval is expected to facilitate greater access to Climate Bonds Certification for residential developments across Colombia, giving investors increased confidence that projects financed through green debt instruments meet robust climate criteria.
To qualify for Certification, eligible projects must satisfy CASA Colombia certification requirements alongside additional Climate Bonds Sector Criteria, including building electrification, sustainable mobility, whole life carbon assessment covering both embodied and operational emissions, and enhanced energy performance requirements based on internationally recognised methodologies.
Projects may demonstrate compliance through either a prescriptive pathway, meeting enhanced performance requirements across key building systems, or a performance pathway, achieving at least a 30% improvement in energy performance compared with the applicable baseline.
In addition, residential property upgrades remain eligible under the existing Buildings Criteria of the Climate Bonds Standard, requiring operational energy emissions reductions of at least 30% for shorter-term financing, increasing to 50% for 30-year bonds.
The approval reflects Climate Bonds’ continued commitment to recognising credible national green building frameworks that align with science-based climate objectives while reducing barriers for issuers seeking Certification.
Andrés Felipe Sánchez, Global Head of Regional Oversight & Head of LAC, Climate Bonds, said:
“Colombia has proven itself to be at the forefront ofsustainable construction through the CASA Colombia certification system. By recognising CASA Colombia as a Certification pathway under the Climate Bonds Standard, we are creating a practical bridge between a trusted national framework and international capital markets. This will help issuers access sustainable finance while giving investors’ confidence that certified buildings meet robust, science-based climate requirements.”
Angélica Ospina, CEO of CCCS, states:
“This recognition confirms that it is possible to develop a certification designed to respond to the local climate, regulatory, and social context while remaining fully aligned with the highest international standards. It also strengthens CASA as a tool that enables developers to demonstrate the environmental performance of their projects while facilitating compliance with the sustainability requirements increasingly expected by financial market and banking institutions to create investment into sustainable housing projects.”
The Consejo Colombiano de Construcción Sostenible (CCCS) is the Colombian member of the World Green Building Council and promotes sustainable construction through technical leadership, policy engagement and market development. CASA Colombia is the organisation’s flagship certification programme for sustainable buildings.
Social Housing residential buildings are also eligible under the SOCIAL HOUSING BUILDINGS COLOMBIA proxy criteria. The new eligibility pathway is effective immediately and applies to both CASA Colombia v3 and CASA Colombia v3.1 certified residential buildings that meet the additional Climate Bonds requirements.
For full eligibility requirements and technical guidance, check here.
, said:
“It’s encouraging to see advisers recognising that scale is becoming increasingly important as schemes consolidate and employers look for providers with the governance, resilience and investment capability to deliver over the long term.
“What stands out from these findings is that whilst advisers clearly see the value of scale, they’re not yet convinced that it automatically translates into better outcomes for members. That reinforces the importance of providers demonstrating the value scale can create in practice. We’re committed to continuing to improve retirement outcomes for members, and I believe that as the market sees more examples of how scale is being put to work, advisers will become increasingly confident in the benefits it can deliver.”
“Ultimately, scale should never be judged in isolation. Its real value lies in what it enables providers to deliver for employers and members, and that’s where the market is increasingly focusing its attention.”