UK Pensions - What can trustees learn from the Pensions Regulator’s review of TCFD reports?

The Pensions Regulator has published a review of the Task Force on Climate-related Financial Disclosures (TCFD) reports published by the first tranche of occupational pension schemes subject to these requirements. The review includes details of the areas where reports could be improved in the future. The Regulator says it expects trustees to carefully consider its findings when preparing future reports and has warned that it will consider issuing penalty notices where reports fail to meet the legislative requirements. Our client alert considers what trustees can learn from the Regulator’s review of TCFD reports.