Pensions - Articles - PRAG publishes guidance on TCFD requirements


The Pensions Research Accountants Group (PRAG) has published guidance to help practitioners understand the Taskforce on Climate-related Financial Disclosures (“TCFD”) governance and reporting requirements that have been introduced for certain pension schemes from 1 October 2021.

 The new requirements do not affect financial reporting disclosures but do have an impact on the information included in (and linked from) the annual report of occupational pension schemes.

 Sarah Lacey, Chair of the PRAG ESG Working Party, said: “Occupational pension schemes are at the forefront of mandated climate-related financial disclosures with the Pension Schemes Act 2021 and Climate Change Regulations introducing new disclosure requirements around climate change risk. The guidance has been produced as a starting point for schemes caught in the initial two waves of reporting and we will develop the document as more information, increased regulation and examples of best practice emerge”.

 Shona Harvie, Chair of PRAG Executive, said: “The largest schemes are beginning to report on how they manage climate risk through TCFD reports. The UK being the first country to mandate TCFD reporting in the pensions sector. Thank you very much to Sarah and the other members of the working party for putting together the guidance in this important area. We look forward to further developments in future.”

Back to Index


Similar News to this Story

Wish list for the occupational pensions industry in 2025
As one year closes and another begins, it's an opportune moment to set our sights on the future. The UK occupational pensions industry faces nume
PSIG announces outcome of Consultation
The Pensions Scams Industry Group (PSIG), which was established in 2014 to help protect pension scheme members from scams, today announced the feedbac
Transfer values fell to a 12 month low during November
XPS Group’s Transfer Value Index reached a 12-month low, dropping to £151,000 during November 2024 before then recovering to its previous month-end po

Site Search

Exact   Any  

Latest Actuarial Jobs

Actuarial Login

Email
Password
 Jobseeker    Client
Reminder Logon

APA Sponsors

Actuarial Jobs & News Feeds

Jobs RSS News RSS

WikiActuary

Be the first to contribute to our definitive actuarial reference forum. Built by actuaries for actuaries.