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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

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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
13 Conclusion Fourth Report - Pension stewardship and… Not Addressed

As a large scheme the Local Government Pension Scheme (LGPS) could be well placed to...

As a large scheme the Local Government Pension Scheme (LGPS) could be well placed to demonstrate and develop best practice in pension scheme governance, including on climate change. The Minister for Pensions and Financial Inclusion told us that, in his view, the Local Government Pension Scheme should be run by … Read more

Government response AI summary
The government's response details its broader Net Zero Strategy and its objectives, completely failing to address the Committee's specific conclusion regarding the Local Government Pension Scheme's governance or potential conflicts of interest.
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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