UK pension schemes face new requirements to disclose sustainability-related information, but these will “streamline” existing climate reporting duties and also cover corporates and financial services firms in the country, according to government announcements today.
Ben Caldecott, director of the University of Oxford sustainable finance programme and director of the pension fund-backed Centre for Greening Finance & Investment, said the new integrated Sustainability Disclosures Requirements were “a hugely positive step”.
“Requiring firms to report on the positive and negative impacts they are having on the climate and environment is an essential complement to risk focused disclosures pioneered by the TCFD.”
