UK Pensions – Climate Change: Action Required

New requirements for occupational pension schemes to align their governance processes and disclosures with the Task Force on Climate-related Financial Disclosures (TCFD) recommendations came into force on 1 October 2021. Initially, they applied only to the very largest schemes with £5 billion or more in assets. However, from 1 October 2022, many more schemes will be caught by the requirements.

The requirements that apply to schemes with £1 billion or more in assets from 1 October are summarised in our “at a glance” compliance timeline below. For more details, please see our Autumn 2021 edition of Trustee Agenda or speak to your usual Linklaters contact.