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Generative AI: A global guide to key IP considerations
Artificial intelligence (AI) raises many intellectual property (IP) issues.
SPP publishes ESG guides
United Kingdom | Publication | July 2022
The Society of Pensions Professionals has published Environmental, Social and Governance guidance which is intended as a short introduction for (mainly) trustees of small and medium schemes on their ESG obligations.
The guide is divided into three sections and looks at how investments are held, considers trustees’ legal obligations in terms of their fiduciary duties, their ESG policy and scheme stewardship. It also suggests a framework for trustees in setting objectives, engaging with advisers and keeping up to speed with three further developments expected later this year:
- Mandatory governance and disclosure requirements for trustees of large schemes and DC master trusts in relation to climate risk, which the DWP is due to review in 2023. There is a possibility that the scope of these requirements could be widened to include smaller schemes.
- The Regulator’s consultation on its new code of practice which will require trustees to assess the risks and opportunities associated with climate change as part of their risk assessment.
- The prospective PLSA quality mark for responsible investment. This will include metrics against which to judge responsible investment and would allow schemes of all sizes to evidence their credentials.
Separately, and more recently, the SPP has published a guide on Evaluating the impact of ESG risks on the Employer Covenant. This guidance suggests a process for identifying and evaluating ESG risk and assesses what DB schemes should consider once they have that information. It covers funding issues, monitoring and contingency planning.
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