UK regulator the Financial Conduct Authority (FCA) has delayed the publication of its policy statement on Sustainability Disclosure Requirements until the last quarter of the year.
In a regulatory initiatives grid update from co-chairs Nikhil Rathi, CEO of the FCA, and Sam Woods, deputy governor, prudential regulation at the Bank of England, the regulator said: “Following the FCA’s Sustainability Disclosure Requirements and investment labels consultation and the range of comments, we have decided to publish the Policy Statement in Q4 2023, having been previously planned for Q3 2023.”
It added: “These policy changes will help the UK’s asset management sector thrive by setting standards that improve the sustainability information consumers have access to.”
The long-awaited sustainable finance rules are expected to contain the three fund labels set out in the FCA’s consultation that published in October last year: “sustainable focus” funds that invest in sustainable assets, “sustainable improver” funds that invest in assets looking to improve their sustainability over time, and “sustainable impact” funds that invest in solutions.