Last week, the FCA issued a Consultation Paper (‘CP’) 21/17 on enhancing climate-related financial disclosures by asset managers, life insurers, and FCA-regulated pension providers.

The proposals will require in-scope companies to prepare two levels of financial disclosures in line with the Taskforce on Climate-related Financial Disclosures (‘TCFD’) recommendations; entity-level disclosures, and product or portfolio-level disclosures. The consultation closes on 10 September 2021, with the FCA aiming to publish the finalised requirements later in 2021.

This consultation builds on the UK government’s consultation earlier in 2021, which proposed that TCFD disclosures be mandatory for many large UK companies, which in turn built off the back of the FCA’s PS 20/17, which made TCFD disclosures mandatory for companies with a UK premium listing.

The newsletter covers: 

• The proposed disclosure requirments 
• The core elemtns of recommended climate-related financial disclosures
• What is next for the FCA
• How Hymans Robertson can support you

You can read the full newsletter here.