Three Quarters of UK Pension Schemes Planning to Commit to Net Zero by 2024

Almost three quarters (74%) of UK pension schemes currently have net zero plans in place or will do within the next two years, according to a survey by the Pensions and Lifetime Savings Association (PLSA), a trade body. More pension schemes are expected to make commitments to net-zero plans as mandatory Taskforce on Climate-related Financial Disclosures (TCFD) requirements come into effect. A total of 63% of schemes have begun working on their TCFD reports, while 55% say they plan to publish reports this year; 28% have said they have already published their TCFD report. The PLSA’s Director of Policy and Advocacy, Nigel Peaple, said: “As we enter the next phase of scheme reporting, it is important that the largest companies and asset managers meet institutional investors’ expectations, by enhancing their climate impact disclosure, as well as fully implementing their regulatory responsibilities within the TCFD regime.” 

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