Climate change and corporate reporting: the role of the FCA

ClientEarth lawyers have written to the FCA citing concerns that the regulator is at risk of contravening its statutory objectives by its failures to address, and enforce against, companies’ inadequate reporting in relation to climate change.

The letter seeks to draw the FCA's attention to two referral requests submitted on the 17.08.2021 in respect of Just Eat Takeaway.com N.V. and Carnival plc and asks that the regulator:

(i) prioritise its remit in relation to climate change and the Government’s commitment to
net-zero by 2050;

(ii) take all necessary steps to procure that it is adequately empowered, and resourced,
to fulfil that remit; and

(iii) use its remit to hold laggards accountable for their failures to satisfy climate changerelated reporting obligations – both those existing and to be implemented – via
robust, consistent, and timely enforcement action.