The implementation of Environmental, Social and Governance (ESG) principles into the running of the UK’s pension schemes has now become well established. To some extent, this has been driven by the requirement for pension schemes to comply with the Task Force on Climate-related Financial Disclosures (TCFD) reporting requirements, although it should be emphasised that there is far more to ESG than just considering the impact of climate change. Former Pensions Minister Guy Opperman was an enthusiastic proponent of ESG, and his successor Laura Trott took up the mantle during her period in office. It is worth reflecting on why ESG is so important for pension schemes and to assess what remains to be done.
- Tim Middleton
Director of Policy and External Affairs, PMI
Last update: 5 December 2024
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