Recorded live at Pensions UK 2025, Mary Spencer and David Fairs speak to David Russell from the Transition Pathway Initiative (TPI) about how pension funds can turn climate disclosure into meaningful action. David explains how TPI evolved from its Paris Agreement roots and why real progress depends on collaboration between asset owners, managers and policymakers. He also shares his perspective on managing transition risk, why adaptation can no longer be ignored, and how smaller funds can engage effectively through partnerships.