United Kingdom: UK financial watchdog proposes broader scope for climate disclosures

Britain’s financial watchdog on Tuesday proposed widening the number of companies that should use globally accepted standards for disclosing the impact of climate change on their business.

Companies listed on the London Stock Exchange’s premium segment use climate-related disclosures as recommended by the Global Taskforce on Climate-related Financial Disclosures.

The Financial Conduct Authority said it was proposing to extend the use of TCFD disclosures to companies with a standard listing, asset managers, life insurers and FCA-regulated pension providers.

“The proposed rules are designed to help make sure that the right information on climate-related risks and opportunities is available along the investment chain – from companies in the real economy to financial services firms, to clients and consumers,” the FCA said in a statement.

The article has been summarised and the original full article can be found at reuters.com

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