UK’s FCA to Consult on SDRs in Q3

The UK’s Financial Conduct Authority (FCA) is planning to consult on its development of the Sustainability Disclosure Requirements (SDRs) for asset managers and FCA-regulated asset owners in the autumn. Following the initial response to the FCA’s Discussion Paper, the second consultation has been pushed back from Q2 until later this year, with the regulatory body noting that it wants to “take account of other international policy initiatives and ensure stakeholders have time to consider other issues”. The SDRs were first outlined in the government’s ‘Greening Finance: A Roadmap to Sustainable Investing’ report published in October, and will broaden UK sustainability reporting beyond just climate and adopt a double materiality lens. The FCA said: “Without common standards, clear terminology and accessible product classification and labelling, there is a risk that consumers find it difficult to navigate the landscape of products and assess product suitability. We want consumers to have enough information to assess which products meet their needs and hold firms to account for their sustainability claims.” 

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