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What's on the FCA's ESG regulatory horizon in the UK?

The Financial Conduct Authority (FCA) has updated its Regulatory Initiatives Grid for May 2022, setting out the UK regulatory pipeline for the next 24 months from May 2022. The Grid is also available in the form of an interactive dashboard and an Excel spreadsheet.

Key updates in relation to ESG include the following:

End of June 2022

ESG in capital markets: FCA to publish feedback statement on ESG in capital markets – green and sustainable debt instruments/ESG data and ratings as part of CP21/18.

July 2022

Sustainability disclosure requirements (SDR): FCA to consult on sustainability disclosure requirements and investment product labels.

Q3 2022

Diversity in financial service: FCA/PRA to consult on diversity in financial services, with a policy statement to follow in 2023.

Q4 2022

Investment Firms Prudential Regime (IFPR): FCA/HMT to publish its fourth consultation paper on the IFPR. This paper will cover among other things ESG disclosures.

Q4 2022

UK Stewardship Code: Deadline for applications to next round of signatories to the UK Stewardship Code 2020, as announced in March 2022.

By end-2022

UK green taxonomy: The first two Technical Screening Criteria (Climate Change Adaptation and Climate Change Mitigation) to be finalised. (The remaining four TSC are to be finalised by end-2023 – although this date is under revision.)


sustainable finance, governance & corporate culture, d&i and employment, climate change & environment, uk, blog posts