Letter to DWP on TCFD consultation response
On 27 January 2021, DWP published its response to its August 2020 consultation on incorporating climate risks into pensions schemes’ governance and reporting arrangements. The proposals will require trustees of large occupational pension schemes to integrate climate risk across their governance and reporting frameworks and produce TCFD-aligned reports. DWP issued draft regulations and draft amending regulations alongside the consultation response, as well as new draft statutory guidance for consultation to help inform trustees’ approaches to managing climate-related risks.
IIGCC submitted the response below to DWP on 10 March.