The Department for Work and Pensions (DWP) has launched a consultation seeking views on proposed requirements for larger pension schemes and authorised master trusts to publish climate risk disclosures.
Jack Gray wrote in the Pensions Age that DWP are seeking views on proposals to report these in line with the Task Force on Climate-related Financial Disclosures (TCFD) recommendations by end of 2022.
Commenting on the launch, Pensions Minister Guy Opperman stated, “We need to respond urgently to the risks of climate change, especially those affecting our financial sector and wider economy”.
TCFD is an organisation with the goal of developing a set of voluntary climate-related financial disclosures, so that companies can inform their investors, and other stakeholders, about the climate change related risks that they are exposed to.
