Towards “Green” Trusteeship: new statutory amendments for occupational pension trustees

Abstract

Abstract This article looks at the amendments to occupational pension schemes that are brought in by the Pension Protection Fund (Pensionable Service) and the Occupational Pension Schemes (Investment and Disclosure) (Amendment and Modification) Regulations 2018. It is respectfully submitted that the named regulations are legally compelling because they amend the regulatory landscape in a manner to enforce greater consideration of Environmental Social Governance risks by UK pension funds. In particular, this article engages with how the amendments are going to increase the pension fund trustees’ appetite to consider environmental risks (including climate-related risks) when exercising their general duty of investment.