Persistent failure by pension funds to recognise material climate risks leads to landmark reforms – UK Government has published proposals to get schemes up to speed.
Lawyers say auditors must now understand the implications of climate risk and consider how it affects their own work and advice. There are real and increasing legal risks if they don’t.
As coal runs at a loss, power companies are running out of excuses to invest in it. A new report by Carbon Tracker charts a route to minimising the impact to shareholders as coal loses out to cheaper, cleaner ways of making and using energy.
Until now, the pension industry has been missing a comprehensive ‘how-to’ for the day-to-day management of climate risk. The PLSA has worked with ClientEarth to publish one.
Climate risk is present throughout the investment chain and so too is the responsibility to monitor and manage it. New legal research sheds light on how climate risk affects the advice consultants and actuaries provide to their pensions clients.