The Pensions and Lifetime Savings Association (PLSA) has commented on the Government’s Green Financing Framework plans.
Nigel Peaple, Director Policy & Advocacy, PLSA, said: “We welcome the announcements by the Chancellor which address many of the recommendations of our 2020 report; A Changing Climate.
“We called on Government to make it easier for pension funds to invest in a climate aware way and, in particular, we asked them to introduce a Green Gilt. With new rules for climate disclosure coming into force for large pension schemes from 2021, pension fund trustees need a broader array of investments to meet their climate ambitions. Green Gilts issued by the UK government will be particularly appealing for funded defined benefit pension schemes as they are lower risk when compared to investing directly in green energy projects. The plan to raise £15 billion this year is a very good start.
“We also support the proposals to ensure climate change considerations are factored in across the investment chain, in particular the development of UK Sustainable Disclosure Requirements on companies, and that the Government will use COP26 to achieve global standards.”
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