TCFD: prepare now to be ready
Guy Opperman, Minister for Pensions and Financial Inclusion, has recently spoke about Climate Change and the new requirements for UK Corporate Pension Schemes. He said:
“The UK is set to be the first major economy to require climate risk to be specifically considered and then reported on by pension schemes”
The new measures will legally require schemes to assess and report on the financial risks of climate change within their portfolios. These requirements will be in line with the Taskforce on Climate-related Financial Disclosures (TCFD) recommendations – a framework for disclosing how climate-related risks and opportunities are measured, monitored and managed by companies, asset managers and asset owners.
It is widely believed that in the near future similar regulatory requirements will be implemented within the Local Government Pension Scheme (LGPS).
Against this backdrop, we believe that now is the time to understand what is required and start preparing to assess and report on your Fund’s climate change risk.
Our panel of experts explain, and answer questions from you, on what the changes mean and the steps you should be taking in preparation.
UK Local Government Pension Scheme Funds (LGPS)
All pension fund personnel
Jeff Houston: Head of Pensions, Local Government Association
Faith Ward: Chief Responsible Investment Officer, Brunel Pension Partnership
Sean Johns: Pension Investments Manager, Cornwall Pension Fund
Hill Gaston: Responsible Investment Consultant, Mercer
Kieran Harkin: Head of LGPS Investments, Mercer (Chair)
Timezone: Timezone converter