Corporate Law Update: 6 - 12 April 2024

12 April 2024

This week:

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)