ESG Today: UK to regulate ESG ratings providers, and more…
The UK Government introduced its finalized law to regulate ESG ratings providers in Parliament, with the new legislation bringing the providers under the supervision of the Financial Conduct Authority (FCA). The law will apply to UK-based providers, as well as foreign providers offering ESG ratings in the UK.
In a statement welcoming the new legislation, the FCA said that it is already in the process of developing its regulation regime for ESG ratings, with plans to introduce proposed rules by the end of this year. Regulation of ESG ratings providers under the new legislation will come into effect in June 2028.
