The UK is hosting the UN Climate Change Conference in Glasgow and Tuesday was COP26 Finance Day.
The Chancellor Rishi Sunak in his COP26 Finance Day speech announced the UK's £100m commitment to the Taskforce on Access to Climate Finance and that it is supporting a new Capital Markets Mechanism, which will issue billions of new green bonds in the UK, to fund renewable energy in developing countries.
To coincide with COP26 Finance Day, the FCA announced that it is publishing a Discussion Paper inviting views on potential criteria to classify and label investment products, to help consumers navigate their sustainability characteristics.
The FCA has reinforced its committed to helping investors put environmental, social and governance (ESG) matters at the heart of their investment decisions.
The Discussion Paper forms part of the FCA’s new ESG Strategy, which sets out the FCA’s critical role in supporting the transition to a more sustainable economy, working with industry, listed companies, government and international partners.
Building trust and integrity in the market for ESG products, and ensuring transparency, are central to the strategy.