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  • Writer's pictureDeborah

On February 10, UK’s Financial Conduct Authority (FCA) published a Discussion Paper DP23/1: Finance for positive sustainable change in order to encourage dialogue on sustainability-related governance, incentives and competencies and help drive positive sustainable change.

After starting with an overview of frameworks influencing discussions around governance, incentives and competencies, the discussion paper reviews how firms embed sustainability-related considerations into objectives and purpose, and how these are further reflected in culture, strategy, governance and incentives.

The DP also explores practices for training and developing competencies in sustainability topics.

Overall, the paper asks fifteen questions covering the following broad topics:

  1. ESG governance, remuneration and incentives in regulated firms

  2. Training and competence in regulated firms

This DP will be of interest to all regulated firms particularly banks, asset management firms and investment firms.

Comments are requested by 10 May 2023.

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