Publication
International Restructuring Newswire
Welcome to the Q2 2025 edition of the Norton Rose Fulbright International Restructuring Newswire.
Great expectations: Regulator publishes blog on climate change reporting
United Kingdom | Publication | April 2023
The Regulator has published a blog in which it discusses why it is putting extra emphasis on compliance with environmental social governance (ESG) and climate change reporting duties in 2023. The Regulator wants trustees, as well as their advisers, to be aware of its expectations and to understand why the focus on ESG is important, so they will be better motivated to meet those expectations.
The Regulator intends to check that trustees of schemes with 100 or more members give detail in their statement of investment principles on how they consider financially material ESG factors including, but not limited to, climate change. These trustees must also publish an implementation statement (IS) which shows how the principles in the SIP have been implemented.
Since 2022, the Regulator has requested that trustees provide a web address via their scheme return so their SIP and IS can be accessed. Of the 220 DC pension schemes that should have provided such web details through last year’s scheme return, only 180 have provided the information as required, and the Regulator expects to see an improvement in compliance.
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Recent publications
Publication
UK MAR: Navigating disclosure obligations in uncertain markets
In the current geopolitical climate, with the imposition of tariffs and associated macroeconomic uncertainty, publicly traded companies across sectors will need to consider the potential impact on their business in the context of their ongoing disclosure obligations.
Publication
Secondary capital raising regime
In July 2022 the UK Secondary Capital Raising Review published its report (Report) setting out a series of bold and wide-ranging recommendations for improving the secondary capital raising regime in the UK designed to make it quicker, more flexible, more inclusive of retail investors and more cost-effective, as well as moving towards digitisation and making better use of technology.
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