The Pensions Regulator has launched a campaign to ensure that trustees are meeting their ESG and climate change reporting obligations.
Trustees of occupational pension schemes with 100+ members are required to prepare:
- A statement of investment principles (“SIP”) which, among other things, must include the trustees’ policy in relation to financially material ESG and climate change considerations.
- An annual implementation statement setting out how certain aspects of the SIP have been followed during the scheme year.
Both documents must be published on a website that is accessible free of charge by the general public. Trustees must report on compliance with this obligation in the scheme return.
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