Technology company AMX has launched AMX Zero, a low-cost climate reporting hub that enables pension trustees to solve fragmented climate data challenges and lack of standardised reporting to meet regulatory responsibilities on climate.
From this year, the UK government will require large pension schemes to produce reporting that follows recommendations from the Taskforce for Climate-related Financial Disclosures (TCFD), with smaller and medium-sized schemes following next year.
To help pension trustees comply with their regulatory responsibilities, AMX Zero connects and collects data on behalf of the pension fund and allows pension trustees to use AMX’s standard TCFD report during the process.
Consultants can complete a TCFD report online or offline. Completed reports and data are stored on AMX Zero.
Over the next two to three years, pension trustees will be required to adapt to TCFD, starting in the UK but this legislation is expected to become standard in other jurisdictions and regulations, including the EU Sustainable Finance Disclosure Regulation.
Commenting on the launch of AMX Zero, Oliver Jaegemann, CEO at AMX, says: “AMX Zero is a service that brings together investment consultants, asset managers, data and climate specialists through one seamless and accessible technology solution.
“If the investment industry is to lead the way, we must come together to create a solution that facilitates standardised climate-related reporting for all pension schemes. Simply put, we cannot rely on the tools of the past to solve the most complex challenge of modern times.”
