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The Pensions and Lifetime Savings Association (PLSA) has commented on the Government’s intention to extend the Taskforce for Climate Related Financial Disclosures.

Joe Dabrowski, Deputy Director Policy, PLSA, says: “The PLSA welcomes the Government’s intention to extend the Taskforce for Climate Related Financial Disclosures (TCFD) to more companies. In due course, we would like to see these requirements extended to all listed companies, not just the largest. It is important that the largest companies lead the way on climate disclosure, and the standards that apply to them are as forward thinking and detailed as those on pension funds. As investors in many of these companies, pension funds and other institutional investors are dependent on this information to meet their own TCFD disclosure requirements and to be good stewards of their assets on behalf of millions of savers – transparent company reporting will be key to that.

“In our A Changing Climate report, it was demonstrated that – overwhelmingly – pension schemes take climate change seriously and want to invest in a climate aware way. Our research highlighted a number of systemic challenges that our members feel are halting progress, including a lack of consistent climate reporting throughout the investment chain. The Government’s proposals will help address this issue.”