Source · Select Committees · Work and Pensions Committee
Recommendation 15
15
Accepted
Paragraph: 57
Pension schemes may already be exposed to brown asset bubbles.
Conclusion
Pension schemes may already be exposed to brown asset bubbles. Investments, such as non-renewables, may be overvalued if investors have not yet adequately accounted for the cost of changes resulting from either climate change or policies to mitigate climate change.
Government response summary AI-generated
The government agrees with the committee's observation and outlines steps taken, including the Occupational Pension Schemes (Climate Change Governance and Reporting) Regulations 2021, which require climate change risk assessment and disclosure for pension savings. It also launched a consultation on further reporting requirements.
Paragraph Reference:
57
Government Response
The government responded to this report on 17 December 2021. No passage in that response could be matched to this conclusion. Read the response document ↗