Question to the Ministry of Housing, Communities and Local Government:

To ask His Majesty's Government, further to the Written Answer by Baroness Scott of Bybrook on 19 May (HL7668), whether the Local Government Pension Scheme should still expect that, in line with the Local Government Pension Scheme (England and Wales): Governance and reporting of climate change risks consultation proposals, which closed on 24 November 2022, Local Government Pension Scheme trustees or managers will be required to produce Taskforce on Climate-related Financial Disclosures reports by December 2024.

We recognise that clarity on the timetable for implementation will be helpful to funds as they make plans and secure appropriate advice. The Government wrote to the Local Government Pension Scheme (LGPS) Advisory Board on 15 June confirming we will not be implementing any requirements related to the governance or disclosure of climate-related financial risks for the financial year 2023/24. The Government is continuing to analyse the responses received to the consultation and will respond in due course.