New regulatory powers Sustainability disclosure in financial services
The FCA and the PRA have wide powers in FSMA 2000 to impose sustainability disclosure requirements on authorised firms in pursuance of their statutory objectives. The FCA consulted in October 2022 (CP22/20: Sustainability Disclosure Requirements (SDR) and investment labels ) with regard to enhancing its ESG Sourcebook and introducing investment labels in order to better protect consumers from "greenwashing".