The FCA has proposed measures that would force financial services firms to publicly disclose how they manage climate risk, as the regulator takes steps to limit the sector's contribution to the "disruptive and potentially irreversible threat to the planet" of climate change.
In a consultation paper published on Monday (15 October), the regulator said climate change came under its remit as its consequences will have an impact on capital markets, affecting both the valuation of some products and creating various investor protection issues. In addition, the Financial Conduct Authority (FCA) said the expected transition to a low carbon economy is likely to have a significant impact on the UK economy and it is therefore important that financial markets "can both respond to and support the transition in a stable and orderly way". The FCA also noted the growing ...
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