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FCA to roll back climate reporting burden to save firms £20m

Contractors work to clear a tree that has fallen on properties following storm winds on December 7, 2024 in Burnham-on-Sea, England.
Photo: Anna Barclay/Getty Images

Under the new proposals, the rigid requirements introduced in 2021 to publish product-level disclosures aligned with the TCFD will be axed.

The UK FCA has proposed a sweeping rollback of its sustainable finance disclosure architecture, stripping away detailed fund-level paperwork in a bid to save the asset management industry an estimated £20m ($25.5m) a year.

​Under the watchdog’s new proposals (CP26/17), the rigid requirements introduced in 2021 to publish exhaustive,

​The policy