ESG letters
iStock / Black Kira

As ESG issues climb up the agendas of regulators around the world, the U.K.’s Financial Conduct Authority (FCA) is setting up a new independent advisory committee devoted to ESG.

The regulator’s new ESG advisory committee will be charged with helping the FCA meet its ESG-related responsibilities as part of the U.K. government’s commitment to achieving a net-zero economy by 2050.

The new committee is to support the regulator’s board in its oversight of ESG-related issues in its role as both a regulator and a corporate entity.

It will also provide guidance to the board on emerging ESG topics and input on how the FCA should develop its ESG strategy.

The FCA has recently stepped up its fight against greenwashing and formed a group to develop a voluntary code of conduct for ESG data and ratings providers.

The initial membership of the new advisory group, which also includes the chair of the FCA and other independent directors, is comprised of academics and ESG experts, including the former CEO of the Global Reporting Initiative.