Trustee disclosure requirements on investment governance issues, stewardship and engagement are evolving rapidly. We expect additional requirements and guidance to emerge over the next few months in relation to environmental, social and governance issues – and in relation to climate change in particular.
Trustees of most schemes with 100 or more members must include an implementation statement when they publish the scheme’s annual report in the 12-month period starting on 1 October 2020. The government's intention is that trustees should set out in their statement of investment principles (SIP) what they intend to do, and then report back on whether they have done it. Trustees must also publish the implementation statement online and tell members about its availability.
Just as all SIPs are scheme-specific, all implementation statements will differ. Our latest guide includes a list of questions to consider as trustees start to draft their first statement.