The Investment Association (IA) has warned of misleading disclosures, mis-pricing of assets and mis-allocation of capital if the Financial Conduct Authority’s (FCA) proposals on climate-related disclosures are not amended, while rejecting the need for a new UK green bond standard.
At the end of June this year the FCA released two consultations proposing new rules on climate-related disclosures. Responses to the consultation were due on 10 September and while the IA said it welcomed the proposals, it voiced a number of concerns, particularly around data gaps and reliability. CP21/17 required asset managers, life insurers and FCA-regulated pension providers to produce climate-related disclosures aligned with the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD). In response to this consultation, the IA flagged the need for "great...
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