We have submitted our response to the Department for Work and Pensions' (DWP) consultation to introduce requirements for trustees to report on the alignment of their portfolios by selecting, calculating and reporting a portfolio alignment metric.
The proposals seek to align existing TCFD disclosure rules for UK pension scheme trustees with the TCFD’s updated implementation guidance, which includes a recommendation that asset owners describe the extent to which their activities are aligned with a well below 2°C scenario.
In addition, the consultation sought views on draft guidance on the Statement of Investment Principles (SIP) and the Implementation Statement, with a particular focus on stewardship.