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Taking action on climate risk: improving governance and reporting by occupational pension schemes – response and consultation on regulations

This consultation seeks views on proposals to require trustees of larger occupational pension schemes and authorised schemes to address climate change risks and opportunities.

Last fetched 03 May 2026 · gov.uk

Detail

This document contains the government’s response to the August 2020 consultation – Taking action on climate risk: improving governance and reporting by Occupational Pension Schemes.

The August consultation was limited to our policy proposals in relation to ensuring occupational pension schemes have – and report on – effective governance, strategy, risk management and accompanying metrics and targets for the assessment and management of climate-related risks and opportunities.

This document also contains and consults on the draft legislation and draft statutory guidance that would enact the government’s policy proposals. These have been produced in light of the outcome of the August policy consultation.

About this consultation

Who this consultation is aimed at:

pension scheme trustees and managers
pension scheme members and beneficiaries
pension scheme service providers, other industry bodies and professionals
civil society organisations
any other interested stakeholders

Read the Statutory guidance about Governance and reporting of climate change risk: guidance for trustees of occupational schemes.

Documents

Taking action on climate risk: improving governance and reporting by occupational pension schemes Taking action on climate risk: improving governance and reporting by occupational pension schemesapplication/pdf Governance and reporting of climate change risk: guidance for trustees of occupational schemes Governance and reporting of climate change risk: guidance for trustees of occupational schemesapplication/pdf The Occupational Pension Schemes (Climate Change Governance and Reporting) (Miscellaneous Provisions and Amendments) Regulations 2021 The Occupational Pension Schemes (Climate Change Governance and Reporting) (Miscellaneous Provisions and Amendments) Regulations 2021application/pdf The Occupational Pension Schemes (Climate Change Governance and Reporting) Regulations 2021 The Occupational Pension Schemes (Climate Change Governance and Reporting) Regulations 2021application/pdf Impact Assessment on climate change risk – governance and disclosure (TCFD) proposals Impact Assessment on climate change risk – governance and disclosure (TCFD) proposalsapplication/pdf Government response: Taking action on climate risk: improving governance and reporting by occupational pension schemes Government response: Taking action on climate risk improving governance and reporting by occupational pension schemesapplication/pdf Draft: The Occupational Pension Schemes (Climate Change Governance and Reporting) Regulations 2021application/pdf Draft: The Occupational Pension Schemes (Climate Change Governance and Reporting) (Miscellaneous Provisions and Amendments) Regulations 2021application/pdf Public responses to the Taking action on climate risk: improving governance and reporting by occupational pension schemes consultationapplication/zip