Workplace Pensions

(asked on 4th July 2023) - View Source

Question to the Department for Work and Pensions:

To ask His Majesty's Government under what statutory provisions they have powers to legislate (1) to require occupational pension schemes to report on their impacts on water, circular economy, pollution and biodiversity, and (2) to clarify occupational pension schemes’ fiduciary duties.

Answered by
Viscount Younger of Leckie Portrait
Viscount Younger of Leckie
Parliamentary Under-Secretary (Department for Work and Pensions)
This question was answered on 17th July 2023

The Government already requires occupational pension schemes over a certain size to report in line with the Taskforce on Climate-related Financial Disclosures recommendations.

With regards to fiduciary duties, The Pension Regulator already provides guidance setting out that climate-related risks should be managed alongside other risks that trustees consider as part of their fiduciary duties.

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