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ARTICLE · 04 DECEMBER 2023

UK Sustainability Disclosure Framework FCA Publishes Final Rules On Sustainability Disclosure Requirements And Investment Labels

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On 28 November 2023, the UK's Financial Conduct Authority ("FCA") published its "Sustainability Disclosure Requirements ("SDR") and investment labels" policy statement (PS23/16)...

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On 28 November 2023, the UK's Financial Conduct Authority ("FCA") published its "Sustainability Disclosure Requirements ("SDR") and investment labels" policy statement (PS23/16) (the "Policy Statement"). The Policy Statement introduces a set of new rules aimed at tackling greenwashing, including investment product sustainability labels and restrictions on how terms like "ESG", "green" and "sustainable" can be used.

Background

In October 2022, the FCA published a consultation paper (CP22/20) on a package of measures aimed at addressing greenwashing (the "Consultation Paper"). Once the consultation period closed in January 2023, the FCA engaged with a number of stakeholders, including industry and consumer groups, before revising its proposals. The FCA has now published these revised proposals in the form of the Policy Statement. For further information on the background to the SDRs and the Consultation Paper, please read our earlier update here.

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