The FCA is consulting on extending its rules to standard listed issuers.
By Paul A. Davies, Chris Horton, James Inness, Anna Ngo, and Charlotte Collins
On 22 June 2021, the FCA published a Consultation Paper (CP21/18) on extending the application of the existing climate-related disclosure requirements for commercial companies with a UK premium listing to a wider scope of listed issuers, so that all commercial companies that issue listed equity shares would be captured by the requirements. The FCA had previously announced that it was going to consult on this extension, so standard listed issuers were forewarned. The FCA plans to apply the requirements for accounting periods beginning on or after 1 January 2022.
On 21 December 2020, the Financial Conduct Authority (FCA) confirmed in a published Policy Statement
Richard Monks, Director of Strategy at the UK Financial Conduct Authority (FCA), recently delivered a speech on the environmental, social, and governance (ESG) reporting regime and how it can be improved as part of SRI Services and Partners’ Good Money Week, held in October. The speech draws particular attention to the increasing use and relevance of ESG ratings.
On 6 March 2020, the UK’s Financial Conduct Authority (FCA) launched a consultation primarily focused on enhancing requirements on certain listed companies to make climate-related disclosures (the Consultation). In particular, it is proposed under the Consultation that such listed companies will be required to state that they have reported in line with the recommendations made by the Taskforce on Climate-related Financial Disclosures (TCFD) or explain why they have not complied with such step. This demonstrates further momentum behind the increasingly widespread adoption of the TCFD recommendations in the public markets (as well as the private markets).