Regulation  

What should the new FCA ESG committee focus on?

Robin Penfold

Robin Penfold

The FCA will consult in the autumn on proposals for the sustainability disclosure requirements regime and investment labels. These will help consumers choose sustainable investments and drive fair value.

2. Creating an effective ESG ecosystem. The FCA is working with HM Treasury on future FCA regulation of ESG data and ratings providers. In the meantime, the FCA is developing a voluntary code of conduct for these providers, so that investors can be confident that ESG data and ratings are reliable and standardised. 

3. Diversity and inclusion. Later this year, the FCA intends to consult on a package of measures to promote D&I in the financial services sector.

Diverse and inclusive workforces have the potential to strengthen each of the three components of ESG. 

Robin Penfold is a partner at UK law firm TLT