Question to the Department for Levelling Up, Housing & Communities:

To ask the Secretary of State for Levelling Up, Housing and Communities, what is meant by proper advice in the Local Government Pension Scheme’s proposed responsibilities on climate risk.

The Government wrote to the Local Government Pension Scheme (LGPS) Advisory Board on 15 June confirming the proposed requirements will not be implemented relating to the governance or disclosure of climate-related financial risks for the financial year 2023/24. The Government will respond to the consultation in due course.

As set out in The Local Government Pension Scheme (Management and Investment of Funds) Regulations 2016, the term “proper advice” means the advice of a person whom the authority reasonably considers to be qualified by their ability in and practical experience of financial matters.