UK Finance backs regulation of ESG ratings providers

UK Finance has responded to the HM Treasury’s Draft Statutory Instrument (SI): The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No. 2) Order 2024

Our members strongly support the regulation of Environmental, Social and Governance (ESG) ratings providers. Assessments of ESG factors are used for investment decisions and influence capital allocation, and we agree with HM Treasury’s assessment that proportionate regulation will improve clarity and trust in ESG ratings. 

In this response to the draft Statutory Instrument laid by Government to implement a new regulatory regime, UK Finance sets out detailed comments to ensure that the regime works for the financial services sector.

Area of expertise: