UK Pensions Regulator Launches Regulatory Initiative to Monitor Climate and ESG Non-compliance by Trustees

March 10, 2023

On February 22, 2023, the UK’s Pensions Regulator (TPR) announced the launch of a new initiative aimed at tightening regulation around ESG data published by trustees, as part of a wider campaign to assess whether trustees are properly discharging their ESG and climate change reporting duties. Among other things, TPR “is checking whether trustees of schemes with more than 100 members (unless exempt) have published a statement of investment principles (SIP) that details the policies controlling how a scheme invests, including consideration of financially material ESG and climate factors,” and whether the SIP has been implemented.

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