United Kingdom

Aon backs new guidance for pension schemes on climate-related risk

LONDON (12 March 2020) – Aon, a leading global professional services firm providing a broad range of risk, retirement and health solutions, has said that it welcomes the development of industry-wide guidance for pension scheme trustees on assessing, managing and reporting climate-related risks and voluntary alignment with the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD). The guidance has been released today by the Pensions Climate Risk Industry Group (PCRIG).

The draft guide is designed to help trustees to make use of the recommendations of the TCFD, which provides a useful decision-making framework and guidance on how trustees can evaluate and report on the climate related risks and opportunities that may affect the strategies and plans of their pension schemes.

Aon has contributed to the development of the new guide and is committed to helping trustees ensure their pension schemes are in a strong position to manage the risks and opportunities from climate change as well as the transition to a low carbon economy.

Mark Jeavons, head of Climate Change Insights and Modelling at Aon and a member of PCRIG, said:
“Climate change poses a global systemic risk for economies, markets and pension schemes. It is therefore essential for trustees and investors to understand how physical and transition risks from climate change will impact pension scheme member outcomes.

“The TCFD guidance provides consistent and comparable guidelines for disclosures, which helps trustees to assess a pension scheme’s resilience to climate change properly and to have the information needed to address climate related risks and opportunities. Our hope is that this will ultimately contribute to good pension scheme member outcomes and result in a more sustainable future.”


About Aon

Aon plc (NYSE:AON) is a leading global professional services firm providing a broad range of risk, retirement and health solutions. Our 50,000 colleagues in 120 countries empower results for clients by using proprietary data and analytics to deliver insights that reduce volatility and improve performance.

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