Morning, Tuesday, 8th July 2025
Online
This conference will examine next steps for the role of pension funds in investing for national economic growth whilst meeting ESG obligations.
Stakeholders and policymakers will assess outcomes of the Pensions Investment Review, including interim findings of Phase 1. Discussion will address implications of the paused Phase 2 and the forthcoming Pension Schemes Bill, which is expected to be introduced to Parliament before summer recess and anticipated to introduce new duties for trustees to offer Defined Contribution (DC) retirement income solutions, potentially extending investment horizons beyond retirement. The conference will also examine how these developments align with broader investment and growth-related policy goals outlined in the Mansion House 2024 agenda and the UK's Industrial Strategy.
Discussions will focus on how consolidation of DC and Local Government Pension Schemes can increase investment into UK firms to generate growth whilst providing security and returns for savers, and how pension fund investments can be integrated into the work of the National Wealth Fund and British Growth Partnership.
Further discussion will consider views on next steps for fund governance, stability and sustainable investment in light of the evolving ESG agenda.
Stakeholders and policymakers will discuss implications of the new Task Force on Climate-related Financial Disclosures (TCFD) and new obligations under the Pension Schemes Act 2021 including fiduciary responsibilities on climate risk, ongoing work on ESG aspects of a revised FRC stewardship code, and new ways to finance sustainable investment products in line with recommendations in the 2024 Transition Finance Market Review (TFMR).
Further sessions will also address broader regulatory and risk factors, such as cybersecurity.
With the agenda currently in the drafting stage, overall areas for discussion include:
- legislation: assessing the Government’s Pensions Investment Review Phase 1 and implications of paused Phase 2 - exploring the Pension Schemes Bill’s scope - incorporating Mansion House 2024 proposals
- fund consolidation: evaluating DC and LGPS pooling - addressing scale vs. cost concerns - clarifying potential governance shifts
- Industrial Strategy and investment: the National Wealth Fund and British Growth Partnership - the role of pension funds in the Industrial Strategy - exploring collaborative finance mechanisms - barriers to investing in UK firms
- ESG goals and stewardship: integrating Pension Schemes Act 2021 requirements - updating the Financial Reporting Council’s (FRC) UK Stewardship Code with climate-focused obligations - implementing TCFD disclosures - green and transition finance and the TFMR
- regulation and risk management: implications of new growth-focused remit for the work of the FCA and PRA - the role of The Pensions Regulator and the FRC - corporate governance frameworks - cybersecurity and data protection - protecting scheme stability and saver assets
