Corporate Law Update: 6 - 12 April 2024
- The Transition Plan Taskforce publishes final sector-specific guidance for net-zero transition
- The Financial Conduct Authority is consulting on fee increases for 2024/2025
Transition Plan Taskforce publishes final sector-specific guidance
The Transition Plan Taskforce (TPT) has published final sector-specific guidance to complement its disclosure framework for UK private sector entities transitioning to a low-carbon economy.
The TPT published its final disclosure framework in October 2023, which makes recommendations for companies and financial institutions to develop “gold-standard” net-zero transition plans. It explicitly builds on the ISSB’s IFRS S2 standard, which sets out climate disclosures for companies.
It subsequently launched a consultation in November 2023 on more detailed guidance for seven sectors. That consultation closed at the end of December 2023.
The sector-specific guidance includes a sector summary covering over 30 financial and real economy sectors, alongside seven deep dive sector guidance booklets for the following sectors:
- asset managers
- asset owners
- banks
- electric utilities and power generators
- food and beverages
- metals and mining
- oil and gas
You can read more about the TPT’s new sector-specific guidance in this blog by our colleagues.
Access the Transition Plan Taskforce’s sector-specific guidance
Access the Transition Plan Taskforce’s Disclosure Framework landing page
FCA consults on fee increases for 2024/2025
The Financial Conduct Authority (FCA) is consulting on increases to its fees for 2024/2025.
The proposals include increases to the fees payable to the FCA for applying to list shares or other securities and to approve a prospectus or other significant transaction document.
Broadly speaking, the FCA is proposing to increase fees by 8.75%, in line with increase in its ongoing regulatory activities budget for 2024/25.
The FCA has requested responses by 14 May 2024, following which it intends to publish a feedback statement in July 2024.
Read the FCA Consultation Paper CP24/6 on FCA regulated fees and levies (opens PDF)
