LCP responds to Climate Change Strategy

The Pensions Regulator (TPR) has today published its Climate Change Strategy for 2021-2024. This sets out its strategic response to climate change and how it thinks it can help trustees meet the challenges from climate change.

Claire Jones, Partner and Head of Responsible Investment at LCP, commented:

“The strategy provides welcome clarity on TPR’s expectations and plans in relation to climate change. It underscores the importance of this topic for pension scheme trustees and confirms that it’s a topic TPR expects them to prioritise. It is reassuring to hear that TPR is working with government departments and other regulators to ensure a joined up approach across the investment chain. Trustees should note the emphasis on stewardship and, for defined benefit schemes, the need to integrate the management of covenant, actuarial and investment risk from climate change.”