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UK Sustainability Disclosure Framework – New FCA Greenwashing Rules under consultation

MOSS and glass globes
By Sam Eastwood, Musonda Kapotwe, Peter Pears, Chris Chapman, J. Paul Forrester, Liang Pu, Tim Baines & Oliver Williams on November 8, 2022
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The UK’s financial regulator – the Financial Conduct Authority (“FCA“) – on 25 October 2022, published its “Sustainability Disclosure Requirements (“SDR“) and investments labels” Consultation Paper (CP 22/20) (the “Consultation Paper“).

This follows the FCA’s July 2021 “Dear AFM Chair” letter regarding improving the quality and clarity of authorised ESG and sustainable investment funds and November 2021 “SDR and investment labels” Discussion Paper (DP 21/4), both of which indicated that the FCA intended to toughen its stance towards greenwashing against the backdrop of increasing concerns over investment funds making ESG-related claims that are exaggerated, misleading or unsubstantiated.

Whilst noting that “tackling greenwashing is a core regulatory priority for the FCA“, the Consultation Paper proposes a set of new rules aimed at tackling greenwashing, including investment product sustainability labels and restrictions on how terms like “ESG”, “green” and “sustainable” can be used.

Continue reading at Mayerbrown.com.

Photo of J. Paul Forrester J. Paul Forrester

Paul Forrester is a respected corporate finance and securities lawyer whose practice is especially focused on structured credit, including collateralized loan obligations, energy (including oil and gas, utilities, shipping, refinery and pipeline) financings and project development, and financing (especially concerning renewable energy, industrial…

Paul Forrester is a respected corporate finance and securities lawyer whose practice is especially focused on structured credit, including collateralized loan obligations, energy (including oil and gas, utilities, shipping, refinery and pipeline) financings and project development, and financing (especially concerning renewable energy, industrial, petrochemical, power and transportation projects and infrastructure).

View full profile on MayerBrown.com.

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Photo of Tim Baines Tim Baines

Tim Baines is counsel in the London environmental and planning team of Mayer Brown. Tim has a particular interest and background in advising companies and financial institutions in the real estate, energy and sustainability sectors. He has considerable knowledge of UK planning and…

Tim Baines is counsel in the London environmental and planning team of Mayer Brown. Tim has a particular interest and background in advising companies and financial institutions in the real estate, energy and sustainability sectors. He has considerable knowledge of UK planning and environmental regimes, renewables incentives regimes, and emissions and climate-related matters.

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  • Posted in:
    Environmental
  • Blog:
    Eye on ESG
  • Organization:
    Mayer Brown
  • Article: View Original Source

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