08/02/2024ECCTA: The continuing march towards greater UK corporate transparency and more reliable public information
On 26 October 2023, The Economic Crime and Corporate Transparency Act 2023 (the “ECCTA”) received… Read more
04/03/2022
In December 2020, the FCA introduced new climate-related disclosures for premium listed companies that apply on a ‘comply or explain’ basis. On 25 February 2022, the FCA published Primary Market Bulletin 38 that sets out further climate-related disclosure requirements for premium and standard listed companies, together with the FCA’s disclosure expectations and supervisory strategy.
In line with the FCA’s new ESG Strategy which was released at COP 26, the intention is to increase transparency around issuer’s management of climate-related risks and opportunities.
LR 9.8.6R(8) and LR 14.3.27R now require premium listed commercial companies and certain standard listed companies to include a statement in their annual financial report setting out:
LR 9.8.6R(8)(b)(ii) and LR 14.3.27R(2)(b) deal with the situation where a listed company has not included climate-related financial disclosures. The FCA considers that:
While listed companies may seek the views of third parties when compiling and reviewing the climate-related financial disclosures to be included in their annual financial report, it is ultimately for a listed company, using its knowledge of the company’s actual and expected activities, operating environment, and exposure to physical and transition risks, to ensure that it complies with LR 9.8.6R(8) or LR 14.3.27R.
The introduction of these disclosure requirements for listed companies is a significant change for the market and its issuers, reflecting the FCA’s emphasis on climate-related transparency which will inevitably inform investors’ decisions.
Disclaimer: We at Memery Crystal (and our parent company RBG Holdings plc) support and encourage free/independent thinking in relation to issues which are sometimes considered to be controversial subject matters. However, the views and opinions of the authors of articles published on our website(s) do not necessarily reflect the opinions, views, practices and policies of either Memery Crystal or RBG Holdings plc.
On 26 October 2023, The Economic Crime and Corporate Transparency Act 2023 (the “ECCTA”) received… Read more
Memery Crystal’s Corporate team has started 2024 with a bang, advising on three equity… Read more
On 20 December 2023, the FCA published a consultation paper (please see: CP23/31) setting… Read more
The Digital Markets, Competition & Consumer Bill (“DMCC Bill”) currently before Parliament is aimed at… Read more