Stuart O’Brien speaks at PensionsAge Annual Conference on climate risk reporting in 2021 SIPs
Stuart O’Brien, partner and chair of the Pensions Climate Risk Industry Group (PCRIG), was speaking at the Pensions Age Annual Conference 2020 on climate risk reporting in pension schemes’ Statement of Investment Principles (SIP). He noted that while most schemes will be compliant this October, trustees will increasingly find it hard to “employ boilerplate wording” from October 2021.
He said, “This year’s SIP updates are quite wordy, there are requirements that have to be met. We are getting a bit of sense that trustees are just adopting the right wording so that they are compliant by October, and I’m sure most will be.”
“Where things get more interesting, there is the requirement after that to produce implementation statements. As soon as you have to start reporting on what you’ve done in practice, it becomes a little less easy to employ boilerplate wording.”
Read the full article in PensionsAge here.
Further guidelines on SIP requirements can be found in our 2020 guide: ESG and climate change for pension funds.