On 8 April 2021, we discussed in our blog post the UK government’s consultation on the draft climate risk regulations under the Pension Schemes Act 2021. The government has recently published a response to the draft regulations, the finalised regulations and the accompanying statutory guidance. The new regulations will apply to trustees of larger
UK Climate change risk — new pension scheme trustee duties confirmed
The UK government has published a response to its January 2021 consultation on the new climate risk-related governance and reporting requirements that will apply to trustees of larger occupational pension schemes from 1 October 2021. The government has also published the finalised regulations and accompanying statutory guidance.
The requirements under the regulations are essentially unchanged from the consultation version – the changes that have been made are largely technical and are designed to clarify aspects of the requirements. Changes have also been made to the statutory guidance to provide further clarity and support for trustees.
Continue reading for our discussion on the governance and reporting requirements.…
Continue Reading UK Climate change risk — new pension scheme trustee duties confirmed
UK Pensions Law: Podcast on Climate Risk Reporting Requirements
On March 10, 2021, the UK government concluded its public consultation on climate risk regulations under the Pension Schemes Act 2021. The government is now analyzing public feedback and preparing consultation conclusions.
In a new podcast, Mayer Brown Counsel Beth Brown provides background on the Pension Schemes Act 2021 and outlines the regulations in the…