Rethinking climate risk governance – Barnett Waddingham

As the importance of addressing climate change becomes increasingly evident, regulators are placing greater emphasis on climate risk governance within the financial sector.

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... The Task Force on Climate-related Financial Disclosures (TCFD) has been at the forefront of this movement, urging organisations to assess and disclose their climate-related risks.

The Pensions Regulator (TPR) has made it clear that even schemes not caught by the full TCFD reporting requirements should consider their approach to addressing climate risk. So what should trustees be thinking about? Trustees must define objectives, engage stakeholders, allocate responsibilities, and establish processes. 

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