Pressure group ClientEarth warns investment consultants that they could be running legal risks if they fail to properly integrate climate change risk into their advice.
Investment consultants for defined benefit pension schemes have been warned that they could face legal risks if they fail to properly integrate climate into their work for trustees.
In a new report, pressure group ClientEarth says that recent legal rulings and advice from professional bodies now make it clear that climate risk is a key consideration in pension fund investment decisions.
Co-author and ClientEarth lawyer Daniel Wiseman said: “Finally, we have a consensus that pension fund trustees have legal duties to consider and manage climate change risks.
"But we still see a gap in the advice they are getting from highly influent
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