U.K. Pensions Regulator tells retirement plan trustees to disclose ESG data or face fines
The U.K. Pensions Regulator warned Wednesday that retirement fund trustees could be fined if they don’t report on ESG and climate change investments.
TPR said in a news release it will launch a campaign in the spring that will check if trustees are publishing ESG data in their statement of investment principles, which outline how retirement funds invest.
Since 2019, retirement funds have been required to publish ESG policies on plan websites to show ESG investments to plan participants. They are also required to publish implementation statements, which show how the principles in the statement of invested principles are enacted.
TPR said its initial analysis showed that a number of defined contribution plans did not provide valid website addresses of their reports.
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