The PRI are providing a consolidated response to this consultation and are seeking your feedback to incorporate into our position. 

This consultation from DLUHC seeks views on proposals to require LGPS administering authorities (AAs) in England and Wales to assess, manage and report on climate-related risks, in line with the recommendations of the Taskforce on Climate-related Financial Disclosures (TCFD).

It is proposed that LGPS administering authorities would calculate the ‘carbon footprint’ of their assets and assess how the value of each fund’s assets or liabilities would be affected by different temperature rise scenarios, including the ambition to limit the global average temperature rise to below 2 degrees set out in the Paris Agreement.

It is proposed that AAs should report on this annually, and that these reports will be summarised in an LGPS-wide report, including the overall carbon emissions of the scheme.