The Investment Association (IA), Pensions and Lifetime Savings Association (PLSA) and the Association of British Insurers (ABI) have produced a template to help UK pension schemes deliver on new climate change reporting-related requirements they face.
The template provides a standardised set of data that pension schemes
need to calculate emissions data required under the Climate Change
Governance and Reporting Regulations, and associated statutory guidance.
The requirements are based on the Taskforce for Climate-related Financial Disclosures (TCFD) framework.
“Collaboration will be vital to tackling the climate crisis, and
delivering changes across the investment chain,” said Joe Dabrowski,
deputy director of policy at the PLSA.
“We are pleased to have worked closely with our industry peers at the
IA and ABI to bring our pension scheme members the Carbon Emissions
Template,” he said, adding: “Complementing the PLSA’s existing library
of responsible investment and stewardship guidance, the template will
help schemes of all types and size with standardised reporting and to
comply with the TCFD regulations.”
The template contains separate data specifications for segregated
mandates and pooled funds, with data to be provided for pension scheme
year ends on or after 31 December 2021.
Galina Dimitrova, director, investments and capital markets at the
IA, said the association had committed to work closely with its members
and their pension fund clients to help them meet their own TCFD
requirements.
“This template provides for the consistent and dependable
transmission of TCFD data, using a proven technological solution already
deployed by asset owners and investment managers,” she said.
“It will help make the process of calculating carbon emissions more
straightforward and efficient, and will provide clients with key
information to help them assess the impact of their investment
decisions.”
The template will also help insurers and investment managers with
their obligations under rules set by the Financial Conduct Authority.
The working group that developed the carbon emissions template is
planning to start the second phase of its work in the second quarter of
2022 to look at implementation experiences, additional metrics, more
recent regulatory developments, and emerging best practice.
A glance at the template
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