Annonce

Log ud Log ind
Log ud Log ind
Samfundsansvar

UK myndighed vil sætte højere standard for fondes ESG-oplysningskvalitet

Morten W. Langer

mandag 26. juli 2021 kl. 9:35

Fra Minerva Analytics:

The UK’s Financial Conduct Authority (FCA) has hit out at “poor quality” product applications for ESG funds and set out detailed guidance for fund managers.

Asset managers have been rushing to launch new funds as demand for ESG-themed strategies skyrockets. However, the watchdog said many of the applications it had received had fallen “below our standards”. This trend has been exacerbated by the recent timeline published by the FCA signaling mandatory TCFD alignment to be gradually rolled out across much of the financial services sector.

In a letter to the chairmen of authorised fund managers, published on 19 July, Nick Miller, head of the FCA’s asset management supervision department, said that applications for ESG funds must improve.

Miller said that several ESG fund applications his team had reviewed were “poorly drafted” and “often contain claims that do not bear scrutiny”.

The FCA letter acknowledged the rate of innovation within the sustainable investment sector, although Miller said the “rapid pace of change presents the industry with challenges”.

“Against this backdrop, we are concerned by the number of poor-quality fund applications we have seen and the impact this may have on consumers. This must improve,” he said.

The letter cited examples including a passive fund with an ESG-related name but that did not track an ESG-themed index, a fund claiming a “positive environmental impact” that had no way of measuring such impact, and several instances of funds whose holdings did not match their strategy descriptions.

The nine-page letter also outlined newly produced guiding principles, created by the FCA to be in line with prospective future disclosure rules. These described the ESG requirements necessary at pre- and post-authorisation stages.

The first guideline category describes the fund’s documentation, including advice on ensuring that the fund’s name fairly reflects its strategy. The second category outlines the fund’s delivery, ensuring that appropriate skills, technology, resources, and tools are to be used.

The final category relates to the information and disclosures available to potential consumers. It encourages fund managers to avoid jargon and technical terms.

Miller said that such guidance was necessary to ensure that poor products do not “undermine trust and deter consumers from this segment of the market”, which could subsequently result in a “lack of effective competition between the firms providing ESG or sustainable investment funds.”

The UK government recently created a working group to develop a regulatory green taxonomy for ESG products. The Green Technical Advisory Group (GTAG) comprises business and environmental experts and will oversee the development of the framework.

[postviewcount]

Jobannoncer

Motiveres du af fagligt komplekse afgiftssager? Vil du arbejde med kontrolbesøg og sagsbehandling?
Region Syddanmark
Grant Thornton søger revisor med minimum et par års erfaring
Region Hovedstaden
Forsvarskommandoens Økonomidivision søger projektleder med økonomistyringsbaggrund
Region Midt
Engageret pensionsrådgiver, der har medlemmet i centrum
Region hovedstaden
Controller til finansenheden i Danmarks Lærerforening
Region Hovedstaden
Er du en fagligt dygtig revisor, og er du klar til et jobskifte – så se her
Region Hovedstaden
Ambitiøs controller til forretningsdrevet fianance business partner-afdeling
Region Syddanmark
Er du Grønlandsbankens nye Erhvervsrådgiver?
Grønland
Head of Controlling – Kalundborg Refinery
Region Sjælland
Udløber snart
GirlTalk søger en økonomi & administrationskonsulent
Region Hovedstaden
Energinert søger en formidlingsstærk seniorøkonom til strategiske anlægsprojekter
Region Syddanmark
Financial Controller hos en af Europas største producenter af kosttilskud og lægemidler
Region Syddanmark
Energinet søger studentermedhjælper til koncernøkonomi og business support
Region Syd

Mere fra ØU Samfundsansvar

Dybdegående og original 
journalistik siden 1994

Økonomisk Ugebrev har i mere end 25 år leveret indsigtsfuld og dagsordensættende journalistik og analyser til læserne og den brede offentlighed. 

Vi tager ansvar for vores indhold og er tilmeldt:

OM ØU

Log ind

KONTAKT

Salg: [email protected]
Jobannoncer: [email protected]
Redaktion: [email protected]
Annonce materialer: [email protected]
Bogholderi: [email protected]

Skriv til os på: [email protected]
Vi bestræber os på at besvare henvendelser indenfor 24 timer.
Telefonisk henvendelse: 70 23 40 10
Telefonerne er åbne alle hverdage fra: 10-15

Økonomisk Ugebrev A/S
CVR-nr.: 31760623
Forbindelsesvej 12, 2. tv
2100 København Ø

Log ind

Har du ikke allerede en bruger? Opret dig her.

FÅ VORES STORE NYTÅRSUDGAVE AF FORMUE

Her er de 10 bedste aktier i 2022

Tilbuddet udløber om:
dage
timer
min.
sek.

Analyse af og prognoser for Fixed Income (statsrenter)

Direkte adgang til opdaterede analyser fra toneangivende finanshuse:

Goldman Sachs

Fidelity

Danske Bank

Morgan Stanley

ABN Amro

Jyske Bank

UBS

SEB

Natixis

Handelsbanken

Merril Lynch 

Analyse og prognoser for kort rente, samt for centralbankernes politikker

Links:

RBC

Capital Economics

Yardeni – Central Bank Balance Sheet 

Investing.com: FED Watch Monitor Tool

Nordea

Scotiabank

 

Log ind

[esi iteras-paywall-login paywallid="qwerty123"]