UK. FCA to require climate change disclosure for pension schemes
The FCA is consulting on rule changes requiring workplace personal pension scheme providers to disclose their ESG considerations, including climate change.
The Financial Conduct Authority (FCA) is consulting on rule changes requiring workplace personal pension scheme providers to disclose their environmental, social and governance () considerations, including climate change.
In a discussion paper published this morning, the regulator said pension providers must increasingly recognise that ‘climate change may reduce investment values and pension outcomes’.
The FCA suggested this was particularly important for workplace personal pension schemes, where consumers generally default into investments, rather than choosing them themselves.
The regulator intends to consult on rule changes in line with the Law Commission’s recommendations in its Pension Funds and Social Investment report.
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