Pensions Regulator publishes example of climate change reporting

An illustrative example of how to comply with climate change governance and reporting requirements may prove a valuable tool for trustees.

The Pensions Regulator has expanded its existing guidance on the new mandatory climate change governance and reporting requirements to include this practical example.  It works through the steps that trustees and their advisers could take to get to grips with their new obligations.  While not intended as a checklist or a substitute for advice, it should help trustees understand what the process could look like in practice and give them a better understanding of the issues they will need to consider and actions they will need to take.

In an accompanying press release the Regulator urges trustees of schemes which will come into scope for these requirements from October (i.e. schemes with assets of at least £1bn) to familiarise themselves with the guidance.  It also confirms that it will contact the trustees of schemes already in scope to ensure that they are aware of their duties.