FCA Publishes Timeline for UK Green Taxonomy Criteria

The technical screening criteria (TSC) for the UK’s Green Taxonomy are scheduled to be finalised by the end of next year, according to the Financial Conduct Authority’s (FCA) two-year Regulatory Initiatives Grid. The taxonomy will serve as a framework for determining which activities can be defined as environmentally sustainable, to inform investors’ investment decisions as they transition their portfolios to net zero greenhouse gas (GHG) emissions by 2050. It is expected to be closely modelled on the EU’s Taxonomy Regulation, which came into force in January 2022. The TSCs for climate change adaptation and mitigation will be finalised by the end of this year, whereas the remaining TSCs for the other four environmental objectives – sustainable use and protection of water and marine resources, circular economy, pollution prevention, and biodiversity – will be finalised by the end of 2023, although this deadline is “under revision”, the FCA said.  

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