The FCA has published a Technical Note (TN/802.1) which provides further guidance on the climate-related financial disclosures listed companies are required to make in their annual report and accounts.
Under the Listing Rules, premium and standard listed companies are required to make disclosures in compliance with the TCFD Recommendations and Recommended Disclosures on a comply or explain basis (see our briefing here).
The FCA consulted on the new technical note in November 2021 in its Primary Market Bulletin No.36, which focused on these new disclosure requirements for listed companies (see our blog post here). In Primary Market Bulletin No.38, the FCA confirms the Technical Note has now been added to its Knowledge Base.
The Technical Note sets out what information the FCA expects companies to disclose either to support their statements of compliance, to explain their non-compliance, or to detail their future plans to comply with their disclosure requirements. The FCA also highlights that, whilst third party advisers may assist with the disclosures, the ultimate responsibility for compliance with the Listing Rules remains with the listed company.
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