Legal & Regulatory News

FCA publish discussion paper and blog post on sustainability-related governance, incentives and competence in regulated firms

10 February 2023

On 10 February 2023, the UK Financial Conduct Authority (FCA) released a Discussion Paper (DP23/1) (the DP) on how FCA regulated firms' governance, incentives and competence can ensure the financial industry plays a leading role in enabling an economy-wide transition to net zero.

The release of the DP also coincided with the FCA's Director of Environmental, Social and Governance, Sacha Sadan, publishing a blog post, looking directly at this area and encouraging all stakeholders to close the "say-do" gap to catalyse commitments into real actions. The post notes that such actions are key to tackling greenwashing allegations and boosting confidence in ESG standards.

The deadline for providing comments on the DP is 10 May 2023.

Click here to view the DP.

Click here to view the Blog post.