UK: FRC and FCA call for better climate-related disclosures

The Financial Reporting Council (FRC) and the Financial Conduct Authority (FCA) have published reports on the quality of the climate-related information provided by UK-listed companies in their 2021 financial reports. 

Both regulators found a significant increase in the quantity and quality of climate-related disclosures compared to previous years. However, they also draw attention to areas which could be improved in the future and provide best practice examples.  

The FCA has stated that it is still considering instances where companies appear not to have made the TCFD-consistent disclosures that they said they had made and that the FCA may take action as a result. 

For more information, see our client briefing.