The Department for Work and Pensions (DWP) has published its response to its consultation on climate and investment reporting: setting expectations and empowering savers. The Occupational Pension Schemes (Climate Change Governance and Reporting) (Amendment, Modification and Transitional Provision) Regulations 2022, are due to come into effect from 1 October 2022. The regulations implement the necessity for trustees to report their scheme’s Paris-alignment by virtue of the requirement for them to select and calculate a portfolio alignment metric and to report on that in their TCFD report.
The consultation also sought views on the government's proposals in relation to draft non-statutory guidance explaining best practice in relation to the Statement of Investment Principles and draft statutory guidance explaining the government's expectations in relation to Implementation Statements.
Kate Granville Smith, Senior Associate at Burges Salmon has analysed the implications of the DWP’s regulations, the guidance and the next steps. You can read the full article here.
DWP Consultation outcome climate and investment reporting—what now for... (lexisnexis.com)
If you have any queries on ESG and pensions issues, please contact Kate Granville Smith