DEI is important from a covenant perspective, both in terms of identifying long-term sponsor risks, and for good trustee decision-making relating to the security of members’ benefits. Cardano, in partnership with Mallowstreet, recently commissioned research in response to The Pensions Regulator’s (TPR) calls for the industry to improve DEI. The aim of this research was to gather data to assess the level of awareness of DEI issues among trustees, raise awareness of the importance of DEI in the pensions industry and identify areas of improvement that can be made.