FCA targets ratings and data providers in ESG focus; proposes TCFD disclosures from 2022

2021/22 Business Plan

Tom Ellis
clock • 3 min read
FCA targets ratings and data providers in ESG focus; proposes TCFD disclosures from 2022

In its Business Plan 2021/22, the Financial Conduct Authority (FCA) has set out its commitments to driving ESG outcomes across the industry, which will involve “promoting integrity” across the market, including when it comes to ratings and ESG data providers.

The regulator said financial services and markets play a "central role" in the transition to net zero, adding that it is committed to ensuring "high-quality climate- and sustainability-related disclosures to support accurate market pricing". The FCA is also consulting on new disclosure rules in line with TCFD guidance for asset managers, life insurers and FCA-regulated pension schemes. It is proposing to bring in new rules on climate-related disclosures for listed companies linked to the TCFD from 1 January 2022. FCA consults on TCFD rules for contract-based schemes It also said...

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