# The Occupational Pension Schemes (Climate Change Governance and Reporting) (Amendment, Modification and Transitional Provision) Regulations (Northern Ireland) 2022, Regulation 2: Amendment of the Climate Change Regulations

Extent: N.I.

(1) The Climate Change Regulations are amended in accordance with paragraphs (2) and (3).
(2) In Part 1 of the Schedule (climate change governance etc. requirements)—
(a) in paragraph 15—
(i) in sub-paragraph (b) for “metric, and” substitute “metric;”;
(ii) after sub-paragraph (b) insert—
“(ba) one portfolio alignment metric, and”;
(b) after paragraph 19 insert—
“19A. Trustees must in each scheme year, as far as they are able—
(a) obtain the data required to calculate their selected portfolio alignment metric;
(b) use the data obtained to calculate that metric in relation to the scheme’s assets, and
(c) use the metric they have calculated to identify and assess the climate-related risks and opportunities which are relevant to the scheme.”;
(c) in paragraph 21 after “paragraphs 18” insert “, 19A”;
(d) in paragraph 26—
(i) in the definition of “additional climate change metric” after “intensity metric” insert “or a portfolio alignment metric”;
(ii) after the definition of “greenhouse gas” insert—
““portfolio alignment metric” means a metric which gives the alignment of the scheme’s assets with the climate change goal of limiting the increase in the global average temperature to 1.5 degrees Celsius above pre-industrial levels;”.
(3) In Part 2 of the Schedule (information to be included in a report under regulation 6) in paragraph 27(n) after “paragraphs 18” insert “, 19A”.

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Source: https://www.legislation.gov.uk/nisr/2022/209/regulation/2 (the official version)
Page: https://openlegislation.uk/occupational-pension-schemes-climate-change-governance-and-reporting-amendment-modification-and-transitional-provision-regulations-northern-ireland-2022/regulation-2
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.