ESG spotlight: A roundup of the latest news on environmental, social and governance initiatives, including LifeSight’s investment in a climate transition fund, a stewardship reporting guide launched by consultants, and The People’s Pension’s climate pledge.

The Department for Work and Pensions is consulting on changes to the fraud compensation levy, which will see pension schemes pay more than double the current fee as pension scam claims rise.

On the go: Signatories of the Net Zero Asset Managers initiative have 35 per cent of their total assets managed in line with achieving net zero by 2050, according to an interim report.

On the go: HM Revenue & Customs announced on Wednesday a series of measures to ensure public sector scheme members will not have to pay extra tax if they receive an uplift in their benefits due to the McCloud remedy.

On the go: Schroders has announced its intention to acquire River and Mercantile Group’s UK solutions division, consisting of its fiduciary management and derivatives businesses, for £230m.

On the go: There are still doubts among trustees about their defined benefit schemes’ long-term strategy, as almost a quarter of these professionals (23.9 per cent) are unsure of their endgame strategy, a survey has revealed.

ESG spotlight: A roundup of the latest news on environmental, social and governance initiatives, including the launch of practical case studies to help schemes achieve climate goals, and The People’s Pension divesting £226m from companies that failed to meet standards.  

On the go: The Pension Protection Fund is looking to appoint four new specialist companies to provide transaction advice to schemes in assessment that are overfunded on a PPF basis.

On the go: Asset manager DWS Group has acquired a minority stake in Smart, the platform provider behind master trust Smart Pension.

On the go: The Teachers’ Pension Scheme has awarded a £20.6m extension to Capita’s current third-party administration contract to deal with the implementation of the McCloud remedy.