UK Financial Regulator Proposes New Rules Targeting Greenwashing

The Financial Conduct Authority (FCA) announced new rules that, if adopted, would include sustainability labels and restrictions on the use of “ESG”, “green” and “sustainable” to describe investment products. The FCA stated that funds listed as responsible investments grew 64% in 2021 to just over $89 billion in the UK. The new rules would require ‘disclosures to help investors understand key sustainability features, with a more detailed level of disclosures for institutional investors.’

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