UK Pension Schemes Join Gov't Climate Council

Law360, London (July 9, 2021, 2:44 PM BST) -- Britain's largest workplace pension schemes with a total £550 billion (£760 million) in assets have joined a government-backed council in a bid to drive greener investment.  

The Department for Work and Pensions said on Thursday that it set up the Occupational Pensions Stewardship Council to help retirement savings plans to share advice on making "more thoughtful" investments.

The new body was set up as the government and regulators place greater focus on pension schemes and how their investments affect the U.K.'s broader climate goals. Britain's pension sector is one of the largest in the world, controlling an estimated £2.4 trillion in...

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