On 6 March 2020, the FCA published Consultation Paper 20/3: Proposals to enhance climate-related disclosures by listed issuers and clarification of existing disclosure obligations (CP20/3).
In CP20/3 the FCA is proposing to introduce a new rule for commercial companies with a UK premium listing, requiring them to state whether they comply with the recommendations of the Financial Stability Board’s Taskforce on Climate-related Financial Disclosures and to explain any non-compliance. The FCA is also consulting on guidance on the existing obligations set out in EU legislation and in its Handbook that may already require issuers to disclose information on climate-related and wider environmental, social and governance matters under certain circumstances.
The deadline for comments on CP20/3 is 5 June 2020.
Subject to the feedback received on CP20/3, the FCA aims to publish a Policy Statement, along with the finalised rules and Technical Note, later in 2020.