Industry reacts to the response from the trustee investment duties consultation

Trustees Agenda posted on 12 September, 2018

Industry bodies and providers have reacted to the Government's response to its consultation on clarifying and strengthening trustees' investment duties and the publication of accompanying regulations. In its response the Government revealed plans to require trust-based schemes to explain how their members' funds are invested and to provide particular justification if trustees have disregarded long-term environmental, social and governance (ESG) related risks. It also revealed that trustees need to update their Statement of Investment Principles by October 2019 to explain how they account for financially material considerations, including those related to ESG issues