Regulatory Alerts2020-03-05
Added · Updated
PS20/17: Proposals to enhance climate-related disclosures by listed issuers and clarification of existing disclosure obligations
The Financial Conduct Authority introduces a new Listing Rule (LR 9.8) requiring commercial companies with a UK premium listing to include a statement in their annual financial report on whether they have made disclosures consistent with the Taskforce on Climate-related Financial Disclosure (TCFD) recommendations, or to explain why they have not. This 'comply or explain' obligation applies to accounting periods beginning on or after 1 January 2021, with the first reports published in spring 2022. Additionally, a finalised Technical Note clarifies existing disclosure obligations for a wider scope of issuers under the Disclosure Guidance and Transparency Rules, Market Abuse Regulation, and Prospectus Regulation, applying with immediate effect.
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