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Pension stewardship and COP26

Status: Closed Opened: 29 Apr 2021 Closed: 2 Feb 2022 15 recommendations 5 conclusions 1 report

The UK hosted the 26th UN Climate Council Conference of Parties - COP26 - in Glasgow between 1 and 12 November 2021. In March 2021, the Minister for Pensions and Financial Inclusion announced that “world leading regulations” will come into force ahead of COP26, following the Government’s consultation, Taking action on climate risk: improving governance … Show more

Clear

Reports

1 report
Title HC No. Published Items Response
Fourth Report - Pension stewardship and COP26 HC 238 30 Sep 2021 20 Responded

Recommendations & Conclusions

1 item
7 Recommendation Fourth Report - Pension stewardship and… Deferred

We have not considered wider environmental, social and governance factors in detail during our inquiry.

We have not considered wider environmental, social and governance factors in detail during our inquiry. The Department for Work and Pensions’ consultation on social risks and opportunities by occupational pension schemes closed recently and it is important that these factors are considered holistically. We expect to look closely at the … Read more

Government response AI summary
The government defers the recommendation, stating it plans to publish its response to the call for evidence in 2022, after the requested three-month timeframe. It clarifies that the call for evidence was information gathering, and any policy changes would require further public consultation.
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Department for Work and Pensions

Oral evidence sessions

2 sessions
Date Witnesses
14 Jul 2021 Emma Varley · Department for Work and Pensions, Guy Opperman MP · Department for Work and Pensions, Pete Searle · Department for Work and Pensions View ↗
30 Jun 2021 Andrew Ninian · Investment Association, James Alexander · UK Sustainable Investment and Finance Association, Mark Fawcett · Nest, Morten Nilsson · BT Pension Scheme, Paul Bucksey · Smart Pension UK, Sam White · Aviva, Tony Burdon · Make My Money Matter View ↗

Who gave evidence

10 witnesses
WitnessOrganisationSessions
Andrew Ninian · Director of Stewardship and Corporate Governance Investment Association 1
Emma Varley · Head of DC and International Private Pensions Pol… Department for Work and Pensions 1
Guy Opperman MP · Minister for Employment Department for Work and Pensions 1
James Alexander · Chief Executive UK Sustainable Investment and Finance Association 1
Mark Fawcett · Chief Investment Officer Nest 1
Morten Nilsson · Chief Executive Officer BT Pension Scheme 1
Paul Bucksey · Managing Director Smart Pension UK 1
Pete Searle · Director, Private Pensions and Arm’s-Length Bodies Department for Work and Pensions 1
Sam White · Group Sustainability Director Aviva 1
Tony Burdon · CEO Make My Money Matter 1