The Financial Conduct Authority (FCA) has refreshed its ESG strategy to include clear standards for sustainability, diversity and net zero-targets.
Building on commitments made in its latest business plan , the regulator said the strategy set out plans for high quality information being made available for market participants and financial services firms, and a well-functioning ecosystem that takes ESG seriously and avoids greenwashing.
The strategy was published on the FCA website on November 3, three days after the 2021 United Nations Climate Change Conference (COP26) began and iis built on five themes including “transparency” and “tools”.
The theme transparency sees the regulator improve the transparency of listed companies’ and regulated firms’ performance on diversity and inclusion, as well as promote global standards for sustainability reporting and enhance climate-related financial disclosures.
‘Tools’ includes plans to influence internationally consistent outcomes in ESG, as well as deliver a work programme to support the market, consumers and regulators.
Antohny Baker, CEO for Satellite Vu, said: “Enforcing positive ESG change in the private sector requires a concerted effort from business, government and our regulators, and it is positive to see the FCA outlining clear and actionable measures to help finance firms meet clearly defined sustainability targets.”
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