The Director of Pensions introduced a report that provided members of the Board with MPF’s response to a consultation by the Department for Levelling Up, Housing & Communities (DLUHC) which sought views on proposals for LGPS administering authorities in England and Wales to assess, manage and report on climate-related risks. Having given due consideration to the consultation in detail, the Fund were supportive of proposals as were pooling partners. Following consultation with the Chair of the Pensions Committee, a joint response was prepared and submitted by the Northern LGPS Investment Pool (NLGPS). The responses from the Scheme Advisory Board and the Local Authority Pensions Board Forum were also highlighted within the report.

In response to a member query as to whether reporting of climate change risks should be added to the risk register, the Director of Pensions affirmed that this was an area considered central to investment considerations and was captured through several mechanisms as part of investment risks.

Resolved – That the response to the consultation be noted.