Norton Rose Fulbright LLP
07/14/2025 | News release | Distributed by Public on 07/15/2025 07:27
Government consults on climate-related transition plans
On June 25, 2025, the Department for Energy Security and Net Zero published a consultation on options to take forward its climate-related transition plan "aligning with the 1.5°C goal of the Paris Agreement" for financial institutions including pension funds. The consultation period ends on September 17, 2025.
The DWP has asked the Regulator to assess the practicalities of transition plans for pension schemes. The Regulator has announced its plans to work with industry stakeholders, advisers and professional bodies to develop and test a voluntary net-zero transition plan template fit for occupational pension schemes.
The Regulator says the ultimate template will be based on the framework and guidance developed by the UK Transition Plan Taskforce and will be presented to the DWP later this year.
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