ShareAction has submitted written evidence to the Work and Pensions Select Committee on fiduciary duty, including managing climate change risks. The pensions system should work in the interests of pension savers. This means making a financial return to pay their retirement income but also accounting for how they are impacted by where their money is invested. We consider that a legal change to the definition of fiduciary duty is still needed to remove legal uncertainty, minimise important practical concerns and ensure that trustees take real action to address sustainability risks and opportunities.