Ralph McClelland comments on whether DC default funds are still lagging on ESG in Pensions Expert

Partner, Ralph McClelland, comments on the suggestion that it should be a legal requirement for DC pension funds to provide an ESG default fund:

“There is a strong argument that, in designing or choosing their default fund, DC trustees are already under a fiduciary obligation to take into account financially material ESG factors, which would include climate change.”

McClelland also explains that trustees must also act prudently: “The question for trustees, given the direction of legislative travel, is what ‘prudence’ looks like in the current environment.”

Read the full article in Pensions Expert

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