IIGCC response to FCA consultation on simplifying climate disclosure requirements

Our submission to the UK’s Financial Conduct Authority (FCA) aims to shape the new proposed reporting requirements for investment products.

On 5 June 2026, the UK’s Financial Conduct Authority (FCA) set out proposals to simplify product-level climate disclosure requirements for investment products. The proposals are contained in Chapter 2 of Quarterly Consultation No 52 - CP26/17 (the CP).

The FCA is proposing to replace the current TCFD reporting requirements with “fewer, more targeted, and more outcomes-based rules”. The stated objectives are to:

• Support more informed investment decision-making by retail and institutional investors.
• Enable a deeper consideration of climate risks and opportunities by in-scope firms.
• Ensure a coordinated flow of climate information along the investment chain.

The proposals aim to ensure that investors access the right information based on their specific needs, while allowing firms greater flexibility in how they communicate with clients. However, there is a risk that the shift away from public product-level disclosures could reduce investors’ access to crucial climate data.

For more information on this consultation, our response and IIGCC’s wider UK policy work, please contact Zoe Alipranti, Senior Policy Manager – UK.