Prepare For New Climate Rules, UK Pension Plans Told
Law360, London (April 7, 2021, 2:25 PM BST) -- Britain's pensions watchdog told trustees of retirement plans on Wednesday that they will soon have to focus much more on climate change and the impact of their investments on the environment under a new regulatory agenda.
The Pensions Regulator warned scheme trustees that proposed regulations will require them to have much greater oversight of how their funds damage the environment and contribute to carbon emissions.
The proposed regulations — which could come into force under the Pensions Schemes Act 2021 — will require trustees of larger retirement plans to maintain oversight of climate risks and make mandatory disclosures in connection with them, the...
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