Pensions Watchdog Warns Of Fines Over Climate Reporting

By Martin Croucher (December 16, 2021, 2:50 PM GMT) -- The U.K.'s retirement savings watchdog said Thursday that it would issue fines of up to £50,000 ($67,000) for breaches of new climate reporting rules for pension schemes.

The Pensions Regulator set out a range of penalties for trustees of Britain's largest occupational schemes, as part of finalized guidance for the application of the new regulations.

The rules, introduced in October as part of the Pension Schemes Act 2021, require trustees of retirement savings plans with assets worth more than £5 billion to publicly disclose the climate risks associated with their investments.

The watchdog said it would issue fines ranging from £2,500...

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