The Pensions and Lifetime Savings Association (PLSA) has commented on the Financial Conduct Authority’s (FCA) Enhancing Climate-Related Disclosures by Asset Managers, Life Insurers and FCA-Regulated Pension Providers consultation.
Joe Dabrowski, Deputy Director Policy, PLSA, said: “The PLSA welcomes FCA’s proposals as these are an important step in setting requirements for asset managers, life-insurers and FCA-regulated providers that will shortly be mandated to produce Task Force for Climate Related Financial (TCFD) aligned disclosures.
“The consultation follows hot on the heels of DWP’s consultation for pensions funds, and there is clearly a great deal of effort going into making sure the Government roadmap for climate change is delivered. This is essential to help address the climate emergency.
“The parallel activities, and differing regulatory focuses have however created some misalignment of timetables for the reporting of information. Much of which can be overcome by the pragmatic approach taken by regulators. However, we are concerned that different views on reporting metrics have been proposed across the two consultations. As schemes and investors generally have identified comparable and consistent data as a key issue we would urge the FCA, TPR and DWP to find a common set of expectations to ensure the whole of the investment chain is aligned, and can pull in the same direction.”