Regulatory Alerts2023-05-15
FSCA Sustainable Finance Statement (March 2023)
The Financial Sector Conduct Authority (FSCA) of South Africa has issued a final statement outlining its strategic commitment to integrating environmental, social, and governance (ESG) considerations into the national financial system. The regulator establishes a five-pillar programme of work focused on taxonomy adoption, standardized disclosure and assurance, market development, consumer education, and internal capacity building to mitigate risks like greenwashing and terminology fragmentation. By aligning domestic frameworks with international standards and potentially mandating ESG reporting, the FSCA aims to channel capital toward sustainable objectives while ensuring fair outcomes for retail and institutional investors.
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