Ralph McClelland comments on mandated ESG risks in FTAdviser
Partner, Ralph McClelland, comments on the requirements for pension schemes to disclose their approach to ESG risks in investing, set out in the DWP’s response to its consultation on clarifying and strengthening investment duties.
McClelland explains that trustees should see the DWP response as a, “firm marker on their responsibilities regarding ESG risks.”. He also welcomes the move to remove uncertainty in this area of law, “by including a clear requirement to articulate a policy on environmental, social and governance considerations (including climate change).”
He concludes by commenting on the timeliness of the new regulations, “As a law firm which has advised trustee boards over many years, we are seeing a new level of engagement in these topics from trustees, investment consultants and investment managers.”
Read the full article in FTAdviser