WTW Creates Climate Course for UK Pension Scheme Trustees

Investment consultancy Willis Towers Watson (WTW) has introduced a climate course to improve UK-based pension scheme trustees’ climate change understanding. The course draws on the firm’s climate expertise, drawing on climate practice and investments, retirement, covenant and employee experience teams, and looks to ensure trustees fulfil their fiduciary responsibilities “effectively”. Professional pensions trusteeship and governance services company Independent Governance Group (IGG) has become the first firm to sign up to the course. IGG – which supports schemes collectively representing more than 10 million members – has enrolled all of its 150 staff member and has already completed its first half. James Fisher, Pensions Actuary and Climate Specialist at WTW, said that while climate destabilisation is a “large and complex topic” that presents “significant issues and opportunities” for pension schemes, WTW noted a “lack of detailed training”. He warned this left many trustees being “forced to make decisions without a full grasp of the underlying issues”. Fisher added that the course fills this gap by providing “a clear and comprehensive grounding in climate fundamentals, before building on that to consider implications for pension schemes”.

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