PROPOSALS for UK pension providers to take the lead on the risk of climate change on their investments have been unveiled.

Work and Pensions Secretary of State Thérèse Coffey outlined the plans during a visit to Glasgow, where the UK will host the UN climate change conference COP26 in 2021.

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Ms Coffey said the Government’s pensions proposals will ensure trustees are legally required to assess and report on the financial risks of climate change within their portfolios.

Under the plans the 100 largest occupational pension schemes, with £5 billion or more in assets, will be required to publish climate risk disclosures by the end of 2022.