FCA publishes new rules on climate-related disclosures
The FCA has published two Policy Statements confirming final rules and guidance to promote better climate-related financial disclosures.
Firstly, issuers of standard listed shares, or equity shares represented by certificates must now include a statement in their annual financial reports setting out whether their disclosures meet the recommendations of the TCFD. If they don’t, they’ll need to explain why. Secondly, FCA-regulated asset managers and asset owners will have to disclose how they take climate-related risks and opportunities into account in managing investments. They’ll also have to make disclosures about the climate-related attributes of their products. The rules came into effect from 1 January 2022, with a phased implementation for asset managers and asset owners, with the rules initially applying to the largest firms and coming into effect for smaller firms one year later.
Published 6 January, 2022