74% of pensions schemes aiming for net zero
The Pensions and Lifetime Savings Association (PLSA) has set out in a Press Release details of a survey they conducted which has found that 74% of pension schemes have net-zero plans in place, or will do within the next two years. With new Taskforce on Climate-related Financial Disclosures (TCFD) requirements coming into force, the number of schemes making net-zero commitments is expected to grow even more. The survey found that 63% of schemes have started working on their TCFD report, with 55% saying they are within the scope of the reporting deadline and plan to publish one this year, and 28% saying that they have already published theirs.
Nigel Peaple, Director of Policy & Advocacy at the PLSA, said: “Striving to improve investment practices, and robust transparency standards across the investment chain, are an essential part of ensuring schemes can act as responsible stewards on behalf of millions of UK pensions savers. As we enter the next phase of scheme reporting, it is important that the largest companies and asset managers meet institutional investors’ expectations, by enhancing their climate impact disclosure, as well as fully implementing their regulatory responsibilities within the TCFD regime.”
This is great news for pension holders who want more transparency with where their pensions are invested. In a survey we held in November last year, 68% of the survey respondents said that it mattered to them that their pension money is invested responsibly, yet over half had no idea what funds their employer has their pension invested in, most likely trusting their employer to make the right choices for them.
The information in this article is correct as of 23/06/2022.
Please note: Investment returns are not guaranteed, and you may get back less than you originally invested.