PLSA comments on 'Unlocking Investment in Climate Solutions' report

Nigel Peaple, Director of Policy and Advocacy at the Pensions and Lifetime Savings Association (PLSA) said: “The new Phoenix/Make My Money Matter report recognises the good work already undertaken by pension schemes to achieve net zero and rightly acknowledges the willingness of pension trustees and managers to do more.

“It is helpful that the report highlights that certain barriers must be removed to facilitate climate-aware investing; for example, there is a scarcity of investible and scalable assets and to overcome this problem the UK needs to develop a National Transition Plan, long term policy certainty and appropriate incentives. These are things the PLSA has also called for. It is also welcome that the report is clear that all such investment must be in the interests of scheme members and customers.

“The disclosure requirements in the UK are world-leading, with the Government being the first to apply the internationally mandated TCFD requirements to pension schemes. The pensions sector wants the Government to accelerate its climate roadmap to ensure companies, asset managers and service providers catch-up with the expectations on pension schemes. Doing so will ensure that schemes have more accurate and meaningful data on which to base their strategies and commitments.”

“While we agree with many of the detailed policy solutions proposed, we note that Phoenix / Make My Money Matter see this report as a means to start a discussion on how best pension schemes can play a bigger role in achieving net zero emissions and we look forward to contributing to this work.”

Mark Smith, Head of Media Relations
020 7601 1726 | [email protected]

Cali Sullivan, PR Manager
020 7601 1761 | [email protected]