The Trustees have published the Scheme’s inaugural climate disclosure report for the Scheme year ending 31 March 2022, which covers both Section A and Section B.

Please click here to view the report.

The report outlines the key climate-related risks and opportunities identified and assessed using climate-related metrics and scenario analysis. It has been prepared in accordance with the Occupational Pension Schemes (Climate Change Governance and Reporting) Regulations 2021, which came into force on 1 October 2021 and are based on the recommendations of the Taskforce on Climate-related Financial Disclosures (TCFD).

The TCFD recommendations provide a framework organised around four pillars:

  • Governance
  • Strategy
  • Risk Management
  • Metrics and Targets.

The report has been structured to provide disclosures across each of these pillars.

The process of carrying out TCFD reporting is intended to lead to better-informed decision-making on climate risks, and improved transparency to improve accountability.