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1147257
unstar this property registered interest false more like this
star this property date less than 2019-09-30more like thismore than 2019-09-30
star this property answering body
Department for Work and Pensions more like this
star this property answering dept id 29 more like this
star this property answering dept short name Work and Pensions more like this
star this property answering dept sort name Work and Pensions more like this
star this property hansard heading Pension Funds more like this
star this property house id 1 more like this
star this property legislature
25259
star this property pref label House of Commons more like this
star this property question text To ask the Secretary of State for Work and Pensions, what steps her Department is taking to ensure pension funds consider the impact of climate change when taking investment decisions. more like this
star this property tabling member constituency Crawley more like this
star this property tabling member printed
Henry Smith remove filter
unstar this property uin 292199 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer less than 2019-10-07more like thismore than 2019-10-07
star this property answer text <p>The Government recognises that climate change is a defining national and international emergency, and we have introduced three key measures to ensure that pension schemes understand their responsibilities in responding to it.</p><p> </p><p>Firstly, since January 2019 those running single employer occupational pension schemes have been required to establish an effective system of governance including consideration of environmental, social and governance factors related to investment assets in investment decisions.</p><p> </p><p>Secondly, also since January 2019 schemes with 100 or more members must carry out and document a risk assessment of their system of governance including risks relating to climate change, the use of resources and the environment and risks relating to the depreciation of assets as a result of regulatory change (known as transition risk).</p><p> </p><p>Thirdly, as of 1st October, trustees of occupational pension schemes must state their policy on how they take account of the financial risks of climate change when developing their investment strategies. Defined contribution pension schemes are also required to publish their policy online.</p><p> </p><p>As the Minister for Pensions and Financial Inclusion I have spoken extensively about the new requirements and made clear this Government’s expectations of pension schemes.</p>
star this property answering member constituency Hexham more like this
star this property answering member printed Guy Opperman more like this
star this property question first answered
less than 2019-10-07T11:42:36.817Zmore like thismore than 2019-10-07T11:42:36.817Z
star this property answering member
4142
unstar this property label Biography information for Guy Opperman remove filter
star this property tabling member
3960
star this property label Biography information for Henry Smith more like this