Investor practices programme
IIGCC response to DWP consultation on climate risk disclosure
The Department for Work and Pensions (DWP) launched a consultation in August 2020 seeking views on proposed requirements for larger occupational pension schemes to publish climate risk disclosures.
The consultation proposed that occupational schemes with more than £5bn in assets have effective governance, strategy, risk management, and accompanying metrics and targets for the assessment and management of climate risks and opportunities in place from October 2021.
Additionally, the consultation invited views on proposals to report on these in line with the Task Force on Climate-related Financial Disclosures’ (TCFD) recommendations by the end of 2022.
IIGCC’s response to the consultation, available to download below, was submitted to DWP on 7 October 2020.