UK Floats Climate Risk Disclosures For Pension Trustees
Law360, London (March 12, 2020, 6:19 PM GMT) -- Pension trustees will begin assessing and reporting the climate risks their schemes are exposed to, the U.K. government announced in proposals Thursday that gained backing from Britain’s pensions watchdog.
The Department for Work and Pension launched a consultation on incoming guidance that it said will help trustees of occupational pension schemes assess the climate risks and opportunities their schemes may carry.
The guidance, which trustees have until May 7 to respond to, sets out how pension trustee boards must consider climate risk within their governance and decision-making processes, the government department said. This should be done when setting the investment strategy...
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