UK To Forge Ahead With Pensions' Climate Measures Rules
By Irene Madongo (June 17, 2022, 3:31 PM BST) -- Trustees of large occupational pension schemes will be required to measure and publicly disclose the way their investments are aligned with international standards on limiting global warming, the government said on Friday.
The announcement from the Department for Works and Pensions follows a consultation it launched in October, in which it proposed that trustees use specific measures, or "metrics," when they calculate and disclose how their investment portfolios tie in with targets set by the Paris Agreement on climate change. The agreement seeks to limit the increase in the global average temperature to 1.5 degrees Celsius above pre-industrial levels.
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