Analysis of climate risk reporting across UK pension schemes

2025 has shown that climate change is no longer a distant risk. It's a force that's already shaping economies, societies and investment markets. While government policy remains fragmented, UK pension schemes remain exposed to the risks of worsening climate outcomes, and to opportunities that arise from a faster transition to a green economy. XPS Group's fourth annual Task Force on Climate-related Financial Disclosures (TCFD) review examines how 49 UK pension schemes, representing £420bn in assets, are addressing climate change risks in their strategies. The review found that: • 76% of...