The government has set out its ambition to make the UK the best place in the world for green and sustainable investment in Greening Finance: A Roadmap to Sustainable Investing.
David Fairs, Executive Director of Regulatory Policy, Analysis and Advice at TPR, said: “We welcome the roadmap’s ambition to address information gaps by setting new reporting requirements for financial sustainability, so every scheme can properly consider climate and the broader environment in their financial decisions.
“A warming world, loss of biodiversity and depletion of the natural environment all have the potential to worsen retirements through supply disruption, loss of assets or weakening an employer’s ability to support pension scheme funding. A shift to sustainable investment and a net zero economy can also provide opportunities trustees must also be alert to.
“The pensions industry must understand this issue is real and urgent. We need to make a step change to achieve a landscape of sustainable and resilient pension schemes where climate risk is managed and the opportunities from moving to a net zero economy are taken in the best interests of savers.”
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