Need to know — New FCA Policy Statement and Listing Rule promoting better climate-related financial disclosures aligned with TCFD

Published on: 14 Jul, 2022

In December 2020, the FCA published Policy Statement (PS20/17) which introduced Listing Rule LR 9.8.6R(8) requiring premium-listed commercial companies to make climate-related financial disclosures consistent with the recommendations and recommended disclosures of the Task Force on Climate-related Financial Disclosures (TCFD) on a comply or explain basis. This Listing Rule took effect for periods commencing on or after 1 January 2021.

In December 2021, the FCA published Policy Statement PS21/23 and the associated new Listing Rule LR 14.3.27R, extending these disclosure requirements to standard-listed companies. The FCA also published a further Policy Statement (PS21/24), which introduces requirements for certain asset managers, life insurers and FCA-regulated pensions providers to make climate-related disclosures. These requirements are effective for periods commencing on or after 1 January 2022.

In this edition of Need to know, we outline the key requirements of these Listing Rules and Policy Statements.


Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.