PART 1 Introduction

Citation, commencement and extent

1. —(1) These Regulations may be cited as the Occupational Pension Schemes (Climate Change Governance and Reporting) (Miscellaneous Provisions and Amendments) Regulations 2021 and come into force on 1st October 2021.

(2) These Regulations extend to England and Wales and Scotland.

PART 2 Requirement for trustee knowledge and understanding

Requirement for trustee knowledge and understanding

2. For the purposes of sections 247(4)(c) and 248(5)(c) of the Pensions Act 2004 (requirement for trustee knowledge and understanding – other prescribed matters), the following matters are prescribed in the case of trustees to whom requirements specified in Part 1 of the Schedule to the Occupational Pension Schemes (Climate Change Governance and Reporting) Regulations 2021(climate change governance etc. requirements) apply—

(a) the identification, assessment and management of risks arising to occupational pension schemes from the effects of climate change, including risks arising from steps taken because of climate change (whether by governments or otherwise); and

(b) the identification, assessment and management of opportunities relating to climate change for occupational pension schemes, including opportunities arising from steps taken because of climate change (whether by governments or otherwise),

insofar as these matters are relevant to meeting those requirements.

PART 3 Amendments

Amendment of the Register of Occupational and Personal Pension Schemes Regulations 2005

3. —(1)The Register of Occupational and Personal Pension Schemes Regulations 2005( 6 ) are amended as follows.

(2) In regulation 3(1) (registrable information), at the end insert—

“ (k) in the case of an occupational pension scheme in respect of which the trustees are required to publish a report in accordance with regulation 6(1)(b) of the Occupational Pension Schemes (Climate Change Governance and Reporting) Regulations 2021 (climate change reporting and publication requirements)—

(i) the website address where the most recent report has been published; or

(ii) where no report has been published, whether the period for publication specified in regulation 6(1) of those Regulations has ended;

(l) in the case of an occupational pension scheme in respect of which the trustees are required to publish the information specified in regulation 29A(2), (2A) or (2B) of the Occupational and Personal Pension Schemes (Disclosure of Information) Regulations 2013 (publishing charges and transaction costs and other relevant information), the website address where the information has been published. ” .

Amendment of the Occupational and Personal Pension Schemes (Disclosure of Information) Regulations 2013

4. —(1)The Occupational and Personal Pension Schemes (Disclosure of Information) Regulations 2013( 7 ) are amended as follows.

(2) In Schedule 3, Part 5 (information that applies to the scheme), after paragraph 34 insert—

“ 34A. Where the trustees are required to publish a report on a website in accordance with regulation 6(1)(b) of the Occupational Pension Schemes (Climate Change Governance and Reporting) Regulations 2021 (climate change reporting and publication requirements), the website address where the report for the year has been published. ” .

(3) In Schedule 4 (summary funding statements), after paragraph 9 insert—

“ 10. Where the trustees are required to publish a report on a website in accordance with regulation 6(1)(b) of the Occupational Pension Schemes (Climate Change Governance and Reporting) Regulations 2021 (climate change reporting and publication requirements), in relation to the most recent report published—

(a) the information specified in sub-paragraphs (a) to (d) of regulation 27(2) of these Regulations (provision of information on a website); and

(b) a statement explaining any circumstances in which the report will be provided on request in hard copy form. ” .

(4) In Schedule 5, Part 2 (information for active and deferred members), after paragraph 6 insert—

“ 6A. Where the trustees are required to publish a report on a website in accordance with regulation 6(1)(b) of the Occupational Pension Schemes (Climate Change Governance and Reporting) Regulations 2021 (climate change reporting and publication requirements), in relation to the most recent report published—

(a) the information specified in sub-paragraphs (a) to (d) of regulation 27(2) of these Regulations (provision of information on a website); and

(b) a statement explaining any circumstances in which the report will be provided on request in hard copy form. ” .

(5) In Schedule 6, Part 1 (information for all money purchase members), after paragraph 5B insert—

“ 5C. Where the trustees are required to publish a report on a website in accordance with regulation 6(1)(b) of the Occupational Pension Schemes (Climate Change Governance and Reporting) Regulations 2021 (climate change reporting and publication requirements), in relation to the most recent report published—

(a) the information specified in sub-paragraphs (a) to (d) of regulation 27(2) of these Regulations (provision of information on a website); and

(b) a statement explaining any circumstances in which the report will be provided on request in hard copy form. ” .