| answer text |
<p>The UK leads the world on this issue. The UK was the first country in the world
both to make climate disclosures in line with the Task Force on Climate- Related Financial
Disclosures (TCFD) recommendations mandatory for occupational pensions schemes, and
to consult on measures to require pension schemes to measure and report their alignment
with the Paris Agreement on climate change. Our work on ESG is recognised worldwide.
DWP are also consulting on guidance for trustees to improve stewardship and voting
which will be key to ensuring high-carbon assets transition to net zero.</p><p> </p><p>The
Secretary of State played a very active role in encouraging other countries and industry
to follow this precedent and to commit to TCFD/Paris aligned reporting for their pension
sector at COP26. The Secretary of State also introduced a session to focus on mobilising
finance to fight climate change in emerging markets and developing countries, which
will be crucial in the fight against climate change.</p>
|
|
