IIGCC has formally responded to the Financial Conduct Authority's (FCA) Consultation Paper CP24/12 on the new Public Offers and Admissions to Trading Regulations regime (POATRs).
We have provided detailed responses to the proposals outlined in Chapter 6: Sustainability-related disclosures in prospectuses for admission to trading on a regulated market. Specifically, IIGCC addresses questions 31, 33, 34, 35, 36, 37, 38, 40, 41, 42, and 43.
The response highlights the importance of aligning these disclosures with existing frameworks such as TCFD and ISSB standards and incorporating them into financial reporting as well as the narrative report, in line with existing requirements from the IASB and FRC. Extending these disclosure requirements to debt issuers, as well as equity, is essential, given the significant role the debt market plays in financing high-emitting sectors.
Additionally, IIGCC underscores the need for further guidance for mineral companies, including the incorporation of the Atmospheric Viability Test (AVT) to assess reserve alignment with global climate goals. These measures are crucial to mitigating climate risks, improving transparency, and enabling more informed capital allocation across all sectors and asset classes.
View the consultation paper.
IIGCC also welcomes the proposals on disclosures for labelled debt. These are critical to growing the credibility of the labelled debt market. We call on the FCA to bring these proposals forward on a mandatory basis, with more explicit links to issuers’ transition plans, where appropriate.