New Carbon Emissions Template launched

A new template to help pension schemes calculate their carbon emissions has been launched today. The Carbon Emissions Template (CET) is a result of joint working between the Association of British Insurers (ABI), the Investment Association (IA), and the Pensions and Lifetime Savings Association (PLSA). It provides a standardised set of data that pension schemes need to calculate their emissions, and will enable them to better understand the environmental impact of their investments.

The template comes in response to new requirements placed on pension schemes to obtain data and calculate their emissions as a step towards identifying and assessing the climate-related risks and opportunities they face.

Galina Dimitrova, Director, Investments and Capital Markets at the Investment Association said:

“TCFD-aligned disclosures are a crucial step forward to managing the impact of climate change. The IA supports all efforts in making TCFD mandatory across the UK economy and we have committed to work closely with our members and their pension fund clients to help them meet their own TCFD requirements. Clear and accessible information about carbon emissions is a vital part of this.  This template provides for the consistent and dependable transmission of TCFD data, using a proven technological solution already deployed by asset owners and investment managers. It will help make the process of calculating carbon emissions more straightforward and efficient, and will provide clients with key information to help them assess the impact of their investment decisions.” 

Yvonne Braun, Director of Policy, Long-Term Savings and Protection at the Association of British Insurers said:

“People are increasingly aware of the power of pensions in helping tackle climate change. The new template will standardise how emissions are calculated, allowing trustees and customers to clearly see and compare the environmental impact their investments are making. This will also help customers who want to make investment decisions based on reducing their carbon footprint.”

Joe Dabrowski, Deputy Director of Policy at the Pensions and Lifetime Savings Association said:

“Collaboration will be vital to tackling the climate crisis, and delivering changes across the investment chain. We are pleased to have worked closely with our industry peers at the Investment Association and Association of British Insurers to bring our pension scheme members the Carbon Emissions Template. Complementing the PLSA’s existing library of responsible investment and stewardship guidance, the template will help schemes of all types and size with standardised reporting and to comply with the TCFD regulations.”

The template will help pension schemes meet their obligations under the Climate Change Governance and Reporting Regulations and associated DWP Statutory Guidance, and will help insurers and asset managers fulfil their obligations under the FCA’s new ESG Sourcebook.

The Carbon Emissions Template can be found here: https://www.theia.org/industry-policy/guidelines/data-delivery-frameworks

For further information, please contact:

Katie Martin, Head of Communications: [email protected]

T: +44 (0)20 7269 4655

IA press office: [email protected]

T: 020 7269 4696

About the Investment Association (IA):

  • The IA champions UK investment management, supporting British savers, investors and businesses. Our 270 members manage £9.4 trillion of assets and the investment management industry supports 114,000 jobs across the UK.
  • Our mission is to make investment better. Better for clients, so they achieve their financial goals. Better for companies, so they get the capital they need to grow. And better for the economy, so everyone prospers.
  • Our purpose is to ensure investment managers are in the best possible position to:
    • Build people’s resilience to financial adversity
    • Help people achieve their financial aspirations
    • Enable people to maintain a decent standard of living as they grow older
    • Contribute to economic growth through the efficient allocation of capital.
  • The money our members manage is in a wide variety of investment vehicles including authorised investment funds, pension funds and stocks and shares ISAs.
  • The UK is the second largest investment management centre in the world, after the US and manages over a third (37%) of all assets managed in Europe.