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<p>The Government wrote to the Local Government Pension Scheme (LGPS) Advisory Board
on 15 June confirming the proposed requirements will not be implemented relating to
the governance or disclosure of climate-related financial risks for the financial
year 2023/24. The Government will respond to the consultation in due course.</p><p>As
set out in <em>The Local Government Pension Scheme (Management and Investment of Funds)
Regulations 2016</em>, the term “proper advice” means the advice of a person whom
the authority reasonably considers to be qualified by their ability in and practical
experience of financial matters.</p>
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