UK Gov't Backs FCA's Proposed Climate Disclosure Rules
Law360, London (October 5, 2020, 1:25 PM BST) -- The Financial Conduct Authority's plans to compel businesses to disclose the climate risks posed by their assets in line with a pensions bill demonstrates the coordinated approach being taken by government agencies to meet global green reporting standards, the pensions minister has said.
The government's Pensions Bill proposes climate change-related measures for businesses to adhere to, including calculating the "carbon footprint" of pension schemes. It is due to be read in Parliament this week.
The FCA measures will require pension schemes to tell it about climate change matters, in line with recommendations set out by the international Financial Stability Board's taskforce on...
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