The Director of Pensions introduced his report which informed Board Members about a consultation by the Department for Levelling Up, Housing & Communities (DLUHC) seeking views on proposals to require Local Government Pension Scheme (LGPS) administering authorities 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). The consultation ran until 24 November 2022. It did not just concern carbon metrics but also governance, strategy on climate risks, risk management and targets. It was envisaged that Funds produce their own individual reports and that these feed into a report for the LGPS in England and Wales as a whole.

Resolved:

That the report be noted.