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ARTICLE · 10 JANUARY 2022

The Pensions Brief: December 2021

Mayer Brown
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The governance and reporting requirements came into force for schemes with £5 billion+ of assets on 1 October 2021 and will come into force for schemes

United KingdomEmployment and HR
Richard Evans
Richard Evans
Katherine Carter
Katherine Carter
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Issues affecting all schemes

Climate change - governance and reporting requirements

The Pensions Regulator has published finalised guidance for trustees on complying with the new climate change-related governance and reporting requirements. The guidance is designed to complement the government's statutory guidance on the requirements. It covers:

  • Strategy and scenario analysis.
  • Risk management.
  • Publishing a climate change report.

In addition, the Regulator has published the finalised appendix to its monetary penalties policy setting out its approach to the penalties that it can impose for breach of the governance and reporting requirements. The Regulator has also responded to its consultation on the draft versions of the guidance and appendix.

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This Mayer Brown article provides information and comments on legal issues and developments of interest. The foregoing is not a comprehensive treatment of the subject matter covered and is not intended to provide legal advice. Readers should seek specific legal advice before taking any action with respect to the matters discussed herein.

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