John ConnorAshley Alder, FCA Chair, spoke at the Climate Financial Risk Forum Symposium, on the opportunities the UK offers to become the world’s sustainable finance centre. He spoke of the risks of climate change, and how lenders, insurers, investors and others are planning how to address them.
He noted a global momentum towards finding solutions and consistent and credible reporting. He said some jurisdictions, notably Hong Kong, Singapore and Japan, are building leadership in green and transition finance and how China’s green bond market is continuing to expand. 36 jurisdictions have now adopted the IOSCO-endorsed ISSB standards.
The UK has been clear that it wants private investment to deliver its clean energy superpower mission and make the UK the sustainable finance capital of the world.
He moved on to look at what the FCA is doing, in terms of the new climate disclosure rule as part of the new public offers regime, creating new UK sustainability reporting standards and bringing ESG providers within its regulatory perimeter. He urged industry to work with regulators to deliver.