'Material Risk': FCA Concludes TCFD Rules Have Helped Investors Better Consider Climate Risks

'Material risk': FCA concludes TCFD rules have helped investors better consider climate risks

Review of climate reporting regime signals it is largely working as intended, but suggests rules could be 'more proportionate'

FCA multi-firm review of firms’ climate reporting

On 6 August 2025, the Financial Conduct Authority (FCA) published its findings following a multi-firm review of firms’ climate reporting in line with its rules. Background In 2021, the FCA finalised its new environmental, social and governance (ESG) sourcebook, requiring asset managers, life insurers and FCA-regulated pension providers to disclose climate-related information in line with the Taskforce on Climate-related Financial Disclosures (TC…