Source · Select Committees · Work and Pensions Committee
Recommendation 5
5
Accepted
Paragraph: 19
Trustees will need detailed and regularly updated guidelines provided by the Pensions Regulator to explain...
Recommendation
Trustees will need detailed and regularly updated guidelines provided by the Pensions Regulator to explain how they should consider the effects of climate change on pension scheme members. We recommend that the Pensions Regulator continuously monitor and update these guidelines.
Government response summary AI-generated
The government accepts the recommendation, stating the Pensions Regulator will ensure its climate reporting guidance adapts as requirements evolve. Additionally, the government's statutory guidance on TCFD reporting will be reviewed and updated at least every three years.
Summary of the government's response below — read the verbatim text to verify.
Paragraph Reference:
19
Government Response
Accepted
HM Government · verbatim extract
Accepted
The Government notes the Committee’s concern that trustees need detailed and regularly updated guidelines to explain how they should consider the effects of climate change on pension scheme members, including guidance on TCFD reporting. The Pensions Regulator expects guidelines on climate reporting to evolve in the next few years and will ensure its guidance adapts as climate-related reporting requirements change and more information becomes available to pension schemes. The Government has also provided detailed statutory guidance to help trustees understand how they should carry out TCFD reporting.20 This guidance will be reviewed at a minimum of three years from the date of its 2021 publication and will be updated when necessary.
Read the full response on Parliament ↗