The UK has taken a step further along its programme of market sustainability reforms. In the Treasury’s latest update to its Green Finance Strategy, which was launched in 2019, ministers presented a consultation paper that proposes bringing ESG ratings providers under the gaze of the Financial Conduct Authority (FCA).
Further announcements indicated that nuclear power would be included in a future ESG taxonomy and that the Taskforce for Nature-related Financial Disclosure (TNFD) framework would be considered for inclusion in any reporting rule.
The FCA said also that it would delay until the autumn it response to a consultation into the UK’s proposed Sustainability Disclosures Requirements (SDR). The rule had been expected to come into force in June.
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