Pension Funds: Investments and Tax Relief Debate
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Baroness Sherlock
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Pension Funds: Investments and Tax Relief
Baroness Sherlock Excerpts(1 year, 4 months ago)
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Baroness Sherlock (Lab)
My Lords, the Climate Change Committee has just reported that the Government are missing climate targets on nearly every front, which makes it all the more disappointing that they opposed a recent Labour amendment to the Financial Services and Markets Bill that would have required the Treasury carefully to review the case for pension funds investing in green infrastructure while maintaining the soundness of funds. Can the Minister tell the House why?
Viscount Younger of Leckie (Con)
No, I cannot, but I can say that the introduction of TCFD reporting requirements for pension schemes was pioneering. We are a leader in this field. As I say, these regulations are still very new and there is a lot going on in this space, and we will be reporting by the end of the year.