The Government welcomes the work of the Financial Markets Law Committee\u2019s working group. Working with the Pensions Regulator, we will look closely at what insights we can draw from their report as we gather further evidence on how trustees are considering ESG factors in their approach to investment in the interests of their members.<\/p>
<\/p>
This report is a useful resource for trustees, but we are keen to hear views from across the pension sector and wider stakeholders as to what further clarification, or guidance, if any, is needed. We plan to do this starting with a series of roundtable events this spring.<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/4169", "label" : {"_value" : "Biography information for Viscount Younger of Leckie"} } , "answeringMemberPrinted" : {"_value" : "Viscount Younger of Leckie"} , "dateOfAnswer" : {"_value" : "2024-02-20", "_datatype" : "dateTime"} , "groupedQuestionUIN" : {"_value" : "HL2432"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2024-02-20T15:00:22.087Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "29"} , "answeringDeptShortName" : {"_value" : "Work and Pensions"} , "answeringDeptSortName" : {"_value" : "Work and Pensions"} , "date" : {"_value" : "2024-02-08", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Pension Funds: Regulation"} , "houseId" : {"_value" : "2"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25277", "prefLabel" : {"_value" : "House of Lords"} } ], "questionText" : "To ask His Majesty's Government what plans they have to discuss with the Pensions Regulator how to incorporate into regulator guidance the conclusions of the Financial Markets and Law Committee\u2019s paper, Pension fund trustees and fiduciary duties, published on 6 February.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/1649", "label" : {"_value" : "Biography information for Baroness Hayman"} } , "tablingMemberPrinted" : [{"_value" : "Baroness Hayman"} ], "uin" : "HL2329"} , {"_about" : "http://data.parliament.uk/resources/1650124", "AnsweringBody" : [{"_value" : "Department for Work and Pensions"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/1650124/answer", "answerText" : {"_value" : "
The Government already requires occupational pension schemes over a certain size to report in line with the Taskforce on Climate-related Financial Disclosures recommendations.<\/p>
<\/p>
With regards to fiduciary duties, The Pension Regulator already provides guidance setting out that climate-related risks should be managed alongside other risks that trustees consider as part of their fiduciary duties.<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/4169", "label" : {"_value" : "Biography information for Viscount Younger of Leckie"} } , "answeringMemberPrinted" : {"_value" : "Viscount Younger of Leckie"} , "dateOfAnswer" : {"_value" : "2023-07-17", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2023-07-17T13:56:45.307Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "29"} , "answeringDeptShortName" : {"_value" : "Work and Pensions"} , "answeringDeptSortName" : {"_value" : "Work and Pensions"} , "date" : {"_value" : "2023-07-04", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Workplace Pensions"} , "houseId" : {"_value" : "2"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25277", "prefLabel" : {"_value" : "House of Lords"} } ], "questionText" : "To ask His Majesty's Government under what statutory provisions they have powers to legislate (1) to require occupational pension schemes to report on their impacts on water, circular economy, pollution and biodiversity, and (2) to clarify occupational pension schemes\u2019 fiduciary duties.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/1649", "label" : {"_value" : "Biography information for Baroness Hayman"} } , "tablingMemberPrinted" : [{"_value" : "Baroness Hayman"} ], "uin" : "HL9028"} , {"_about" : "http://data.parliament.uk/resources/1627709", "AnsweringBody" : [{"_value" : "Department for Work and Pensions"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/1627709/answer", "answerText" : {"_value" : "
I would like to assure the Baroness that, as set out in the consultation response Climate and investment reporting: setting expectation and empowering savers, we will review requirements on disclosures and stewardship activities in the second half of 2023. The exact form and publication timeline of the review are being determined in conjunction with wider and ongoing stewardship review activities.<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/4169", "label" : {"_value" : "Biography information for Viscount Younger of Leckie"} } , "answeringMemberPrinted" : {"_value" : "Viscount Younger of Leckie"} , "dateOfAnswer" : {"_value" : "2023-05-30", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2023-05-30T14:42:27.38Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "29"} , "answeringDeptShortName" : {"_value" : "Work and Pensions"} , "answeringDeptSortName" : {"_value" : "Work and Pensions"} , "date" : {"_value" : "2023-05-15", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Workplace Pensions: Disclosure of Information"} , "houseId" : {"_value" : "2"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25277", "prefLabel" : {"_value" : "House of Lords"} } ], "questionText" : "To ask His Majesty's Government, further to commitments made in the consultation outcome, Climate and investment reporting: setting expectations and empowering savers, published on 21 October 2021, to review mandatory disclosures by occupational pension schemes and requirements on stewardship activities; (1) when the review will begin, (2) whether they will publish a call for evidence, (3) how they will decide which stakeholders to engage with, and (4) when they expect to publish the results of the review.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/1649", "label" : {"_value" : "Biography information for Baroness Hayman"} } , "tablingMemberPrinted" : [{"_value" : "Baroness Hayman"} ], "uin" : "HL7832"} ], "itemsPerPage" : 10, "page" : 0, "startIndex" : 1, "totalResults" : 3, "type" : ["http://purl.org/linked-data/api/vocab#ListEndpoint", "http://purl.org/linked-data/api/vocab#Page"]} }