Pension trustees could face legal challenge on climate risks

A legal opinion for ClientEarth has concluded that pension fund trustees failing to assess and act on financial threats to schemes from climate change could face successful legal challenges

Occupational pension scheme trustees and their fund managers face legal challenge if they fail to consider climate risks. Photograph: Bleakstar/123RFTrustees of occupational pension schemes could face legal challenge if they ignore material financial risks from climate change in investment portfolios, according to a legal opinion for environmental law NGO ClientEarth.

The ClientEarth brief asked two QCs to specifically consider trustee duties to assess the financial risks associated with climate change when making investment decisions on behalf of scheme members and to advise on the extent to which the law permits or requires trustees of occupational pension schemes to take climate change into account.

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