ESG – The FCA publishes final rules on climate-related disclosures

On 17 December 2021, the FCA published its policy statement PS21/24, Enhancing climate related disclosures by asset managers, life insurers, and FCA-regulated pension providers. The policy statement introduces new rules and guidance for asset managers and certain FCA-regulated asset owners to make mandatory disclosures consistent with the recommendations of the Taskforce on Climate-related Financial Disclosures (TCFD).

Background

The policy statement follows a discussion paper (DP21/4) on how sustainability disclosure requirements and investment labels can best build on TCFD-aligned disclosure rules and guidance, the consultation period for which closed on 10 September 2021.