Watchdog Adds Climate Standards To Pensions Code
Law360, London (June 27, 2019, 6:18 PM BST) -- The Pensions Regulator updated its code for trustees of occupational pension schemes on Thursday to include environmental, social and governance responsibilities that boards must follow when investing their members' assets.
The watchdog, known as TPR, said that trustee boards must set out from October how the companies they are investing their scheme funds into are contributing to climate change and other sustainability and ethical issues.
Trustees that consider environmental and social dangers will be able to evaluate risks to their investments, the regulator said. For example, investing in a business that contributes to carbon emissions may hit the long-term profits of...
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