The FCA has delayed the implementation of sustainable investment labels to allow it to take account of other international policy initiatives.

In an update yesterday (July 4), the regulator said it had aimed to consult on the sustainability disclosure requirements (SDR) in the second quarter of the year, but will now undertake the exercise this autumn.

It said this will “allow us to take account of other international policy initiatives and ensure stakeholders have time to consider these issues”.

Last month the Securities and Exchange Commission proposed a new set of rules on climate-related disclosures, to be phased in from 2023.

If adopted, these will require funds and advisers to provide more specific ESG disclosures in fund prospectuses, annual reports, and adviser brochures.

Funds with a “consideration of environmental factors” would need to disclose the greenhouse gas emissions associated with the investments in their portfolios, and those claiming to have a specific ESG impact would need to outline that impact and summarise their progress towards their goals.

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