Pensions - Articles - House of Lords amendments to Pension Bill are a big surprise

Simon Jones, head of responsible investment at Hymans Robertson comments on the House of Lords climate risk disclosure amendment:

 “The proposed amendment to the Pensions Bill in the House of Lords which would significantly increase the climate risk disclosure requirements for pension scheme, will come as a surprise to many in the pensions industry as it pre-empts guidance which is expected to be released shortly. The proposal comes after an announcement last week that the government would bring forward the ban on sales of new petrol, diesel and hybrid cars and is a further indication that the government is not afraid to drive positive action on climate change through policy change. We suspect this is the beginning of a raft of policy responses which will be needed to tackle the climate crisis.
 “Pension schemes will need time to understand the new reporting requirements and take steps to adapt their strategies, reporting and governance so that they comply. We are concerned about introducing more onerous disclosure requirements which may not deliver any real change in trustee behaviour and risks becoming another box-ticking exercise.

 “We urge the pensions industry as a whole to take meaningful action to reduce climate risk. This will not only deliver better outcomes for pension scheme members but will have knock on benefits for the UK as a whole on our journey to carbon neutral.”

Back to Index

Similar News to this Story

PLSA guidelines say hold firms to account on Climate Change
Pension fund investors must be prepared to hold the directors of the companies in which they invest individually accountable on how well they manage c
Some pensioners to face Lifetime Allowance charges
Colin Smith, a Senior Director at Willis Towers Watson comments on guidance from HMRC concerning the tax treatment of changes that pension schemes mak
Just Group comment on the FCAs Sector Views report
Retirees are less likely to switch provider when taking out income drawdown or guaranteed income for life plans than they are for credit cards or cash

Site Search

Exact   Any  

Latest Actuarial Jobs

Actuarial Login

 Jobseeker    Client
Reminder Logon

APA Sponsors

Actuarial Jobs & News Feeds

Jobs RSS News RSS


Be the first to contribute to our definitive actuarial reference forum. Built by actuaries for actuaries.