Pension fund trustees will have to account for climate risk and ESG factors in their investment decisions under new regulations unveiled by the UK government. The plans, announced by DWP on 11 September , will require all trust-based pension schemes to explain how funds are invested, with a specific emphasis on risks connected to climate change and low carbon transition. New DWP regulations will require pension fund trustees to explain approach to ESG and climate risk factors in investment decisions New regulations that oblige pension fund trustees to account for climate risk and environmental social governance Statements of investment principles must be updated by October 2019 and followed by 11 September reports on such risks. Failure to comply could see fines of up to £50,000 ($ 5,000 ) for organisations or £ 65,000 for individuals.
Pension fund trustees will have to account for climate risk and ESG factors in their investment decisions under new regulations unveiled by the UK government. The plans, announced by DWP on 11 September , will require all trust-based pension schemes to explain how funds are invested, with a specific emphasis on risks connected to climate change and low carbon transition. Statements of investment principles must be updated by October 2019 and followed by 11 September reports on such risks. Failure to comply could see fines of up to £50,000 ($ 5,000 ) for organisations or £ 65,000 for individuals.