Legal & Regulatory News

FCA to establish new ESG advisory committee

On 23 August 2022, the Financial Conduct Authority (FCA) announced that it will establish a new advisory committee (the Committee) to focus on ESG issues. The FCA also requested for interested stakeholders to express their interest in joining the Committee.

The Committee will be tasked with providing advice to the FCA's Board on:

• how it executes oversight of ESG issues relevant to the FCA, both as a regulator and in relation to its own operations;
• relevant emerging ESG topics or issues;

• how the FCA should develop its ESG Strategy, in keeping with its statutory objectives and regulatory principles.

The FCA has said that it is looking to limit the Committee to a small number of external experts, who have an in-depth knowledge of ESG issues in the financial sector. It is not expected that any members of the Committee will be employees of FCA regulated firms.

The deadline for registering interest in joining the Committee is 16 September 2022, with the expectation that the first meeting will take place in Q4 2022 and that quarterly meetings will follow thereafter.

Click here to access the press release

Click here to view the FCA's ESG strategy