The Pension Schemes Act 2021 sets out a framework for new climate risk-related governance and reporting requirements for trustees of larger schemes. The detailed requirements will be set out in regulations and statutory guidance, and the government is currently consulting on draft versions of the regulations and guidance.
The government consulted on the broad policy principles to be contained in the regulations in August 2020. The draft regulations largely implement those principles, but some changes have been made.
You can read the full legal update here >>