FCA publishes paper on sustainable governance


The Financial Conduct Authority (FCA) has published a discussion paper to seek perspectives on future sustainable governance.

According to Finextra, the FCA’s discussion paper includes articles from a wide range of experts focusing on sustainable initiatives and evolving practices in the financial industry.

The FCA is asking for interested contributors to respond to questions using an online form by the 10th of May 2023.

The discussion paper explores regulatory compliance and competence in the sustainability sector and is targeting banks, asset management firms, investment firms and financial institutions.

FCA director of ESG Sacha Sadan said, “As a regulator, we are committed to playing our part in the government’s vision for the UK to be the world’s first net zero aligned financial centre. In the Chancellor’s latest remit letter to us, the Government called out the important role the FCA has and requested that we have regard to their ambitions for the provision of sustainable finance and their commitment to a net zero economy by 2050.

“But creating positive, sustainable change isn’t just about climate change. It’s about looking beyond and considering the wider environmental issues, such as biodiversity and nature, as well as social and governance issues, such as diversity and inclusion, the living wage, fair taxation and supply chains.”

The FCA recently published a review of how companies are planning to implement the new Consumer Duty legislation set to come into force on 31 July 2023.

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