Local Government Pension Scheme (England and Wales): Governance and reporting of climate change risks: PLSA response

The Department of Levelling Up, Housing and Communities has consulted on introducing mandatory Taskforce on Climate Related Financial Disclosures in the Local Government Pension Scheme. 

In our response, the PLSA:

• Broadly welcomed the proposals, which are consistent with the existing requirements for private sector schemes.
• Noted our concerns that this will introduce extensive reporting for the smallest of LGPS funds, and encouraged some more analysis of the viability of this.
• Highlighted some concerns about the practicalities of introducing a ‘scheme wide’ report, and the usefulness of aggregated metrics.