The FCA Board decided earlier this year to found a ESG Advisory Committee to help execute its ESG-related responsibilities, with the aim to support the financial sector and initiate positive change in the transition to meet the Governments goal to a net zero economy by 2050.
The new ESG Committee’s role will be to provide advice to the FCA Board on:
- how it executes oversight of ESG issues relevant to the FCA both as a regulator and our own operations;
- relevant emerging ESG topics or issues;
- how the FCA should develop its ESG Strategy, in keeping with the organisation’s statutory objectives and regulatory principles.
“We are an organisation that also needs to transform. Profound forces – the pandemic, Brexit, technology, the drive to a greener economy – are transforming the entire landscape of financial services. We need to change the way we do things, and in some cases what we do. We are becoming a different organisation. The FCA must continue to become a forward-looking, proactive regulator.” – Nikhil Rathi, Chief Executive FCA.
With their revitalized ESG strategy, they seek to deliver their strategy throughout all their work with these five core themes; transparency, trust, tools, transition, and team.
The ESG Advisory Committee is expected to commence in Q4 2022.
