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Social risks impact on employer covenant
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Industry warns of effects of social risks on occupational pensions
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UK pensions regulator consults on criminal sanctions policy
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By Susanna Rust2021-01-27T16:16:00+00:00
The UK government today published draft climate risk reporting and governance rules for pension funds that are in line with the main thrust of proposals outlined last year but incorporate some changes in response to feedback.
Its consultation on the proposed rules comes after the Chancellor in November announced plans to roll out mandatory climate reporting requirements across the UK economy by 2025, with a significant proportion in place by 2023. The DWP had by then already proposed mandatory action by pension funds.
Guy Opperman, minister for pensions and financial inclusion, said: “Trustees can be sure that the UK-regulated organisations on which they depend not only for data and information but also day-to-day management of climate change risk will be subject to the same obligations and requirements.”