UK pension schemes reflect on TCFD reporting

As some UK pension funds publish their first Task Force on Climate-Related Financial Disclosures reports, and with many more expected to do so in the coming year, the £57.5bn BT Pension Scheme, the £36bn Border to Coast Pensions Partnership and consultancy Mercer explain how they have overcome some of the climate reporting challenges.

Speaking at the Pensions and Lifetime Savings Association’s ESG conference in March, Mercer director of consulting Brian Henderson said the TCFD reporting process has focused the minds of UK pension scheme trustees. The fact that some of Mercer’s clients have set up subcommittees specifically to increase efficiency in the TCFD reporting process shows engagement and understanding of what needs to be done, he said.