The Financial Conduct Authority (FCA) has released a discussion paper aimed at fostering conversation and gathering varied insights on the topic of sustainable governance for the future.
The document features contributions from numerous experts who address sustainable initiatives and the ongoing transformations within the financial sector. The FCA is actively seeking feedback on its proposals and how it can enhance its sustainability practices. Interested parties are invited to submit their responses through an online form by May 10, 2023.
The discussion paper specifically targets banks, financial institutions, asset management firms, and investment organizations, alongside industry specialists and any stakeholders who may have an interest. It delves into the themes of competence and regulatory compliance within the sustainability landscape.
Sacha Sadan, the FCA’s Director of ESG, articulated the regulator’s commitment to the UK government’s vision of establishing the world’s first net-zero-aligned financial center. In his recent blog post, he emphasized, “As a regulator, we are dedicated to contributing to the government’s objectives for sustainable finance and the goal of achieving a net-zero economy by 2050. However, fostering positive, sustainable change encompasses more than just addressing climate change; it involves a broader consideration of various environmental issues, including biodiversity and natural habitats, along with social and governance aspects such as diversity and inclusion, the living wage, fair taxation, and the integrity of supply chains.”