FCA publishes new plans for climate disclosure

The UK FCA has published new proposals on climate-related disclosure rules for listed companies.

The proposals follow the introduction of climate-related disclosure rules for the most prominent listed commercial companies in December 2020.

The new proposals include extending the application of its TCFD-aligned Listing Rule for premium-listed commercial companies to issuers of standard listed equity shares and introducing disclosure requirements for asset managers, life insurers, and FCA-regulated pension providers.

Sheldon Mills, Executive Director of Consumer and Competition at the FCA said: ‘Climate-related disclosures do not yet meet investors’ and market participants’ needs. The new rules will help markets, investors and ultimately consumers better understand the impact of climate change and make more informed decisions.’

The FCA is inviting feedback to both consultations by 10 September 2021 and intends to confirm its final policy on climate-related disclosures before the end of 2021.