Sackers launches fifth ESG guide
Sacker & Partners LLP (Sackers), the UK’s specialist law firm for pensions and retirement savings, has published its fifth guide for trustees on ESG and climate change. The aim of this new guide is to help pension scheme trustees understand and respond to the latest regulatory requirements, focusing in particular on climate-related risks for their pension schemes and related disclosure requirements.
Stuart O’Brien, Partner at Sackers, comments: “This is our fifth guide for trustees, something we could never have imagined when our first guide was launched in 2016. With the raft of new reporting obligations being introduced this year under the Pension Schemes Act 2021 our focus this year is on the disclosure aspects of ESG and climate change. With mandatory disclosure requirements to be introduced for larger schemes from 1 October 2021, climate change should be a key focus for trustees this year.”
O’Brien continues: “Meaningful disclosures on climate will not be possible without trustees undertaking certain governance activities. With that in mind, the draft regulations not only tell trustees of schemes in scope what they must disclose, but also prescribe specific actions that must be taken first. This is new ground for many and timing will be tight for schemes required to comply in 2021/22. We hope our guide helps by setting out these new requirements and clearly explaining the key points trustees will need to consider.”