The UK's Financial Conduct Authority has delayed the publishing of the Sustainability Disclosure Requirements policy statement until Q4 2023.
In a regulatory update from CEO Nikhil Rathi and deputy governor of prudential regulation at the Bank of England Sam Woods, the watchdog said that the regime had been pushed to the end of the year, reports Investment Week.
Previously scheduled for Q3, the investment labelling scheme closed its consultation in January, having received about 240 written responses.
"These policy changes will help the UK's asset management sector thrive by setting standards that improve the sustainability information consumers have access to," added the FCA.
The release of the policy statement for SDR has already been delayed once, having originally been scheduled for 30 June, but was pushed back in March due to "significant" number of responses to the consultation. This includes the general 'anti-greenwashing rule' for registered firms.
The resulting implementation of the SDR's labelling scheme, product naming and marketing rules are now also expected to be delayed beyond the previous Q2 2024 estimates.
This article was first published on sister website Investment Week.
