Guy Opperman praises Stuart O’Brien’s role in delivering the Pensions Climate Risk Industry Group guidance for pension schemes
Pensions Minister, Guy Opperman explains why the climate crisis should be the number one issue for every scheme.
Guy Opperman says: “From the Law Commission’s report in June 2017 to the introduction of new regulations in October 2019, my officials and I have worked at pace to deliver a sea change in the way that pension schemes consider ESG and – especially – climate risk. Building on this, we recently amended the Pension Schemes Bill, taking powers to require schemes to report in line with the recommendations of the Taskforce on Climate-related Financial Disclosures.
I realise the TCFD recommendations are unfamiliar to many and can be daunting to apply to pension schemes. That’s why my officials and I have been delighted to support Stuart O’Brien of Sackers, and others on the Pensions Climate Risk Industry Group, developing the first pension scheme-specific guidance.
This will be launched on Thursday 12 March at the PLSA Investment Conference. Stuart and his team have done excellent work in integrating TCFD into the trustee decision-making process and ensuring it is relevant for governance bodies.
I would like to thank the PLSA, Stuart, and everyone else who has helped to deliver the Pensions Climate Risk Industry Group guidance. I encourage you to respond to that consultation”.
Read the full article on the PLSA’s website.