Overview
The FCA’s Listing Rules / Disclosure Guidance and Transparency Rules framework requires many listed companies to report against the TCFD recommendations. The rules remain adopted and applicable while the UK progresses toward ISSB-based standards.
Fashion companies with UK listings should continue publishing climate governance, strategy, risk-management and metrics disclosures, explaining any recommendations they do not comply with.
Sources: FCA Handbook climate disclosure rules.
Key requirements
- Annual TCFD-aligned climate disclosure statement in the annual financial report.
- Comply-or-explain statements where recommendations are not fully addressed.
- Consistency with evolving FCA sustainability disclosure expectations for listed issuers.
Who’s affected
In-scope UK listed commercial companies, including listed fashion and retail issuers.
Timeline
2021–2022
FCA TCFD listing-rule requirements begin applying to premium listed commercial companies and then widen.
Ongoing
Rules remain in force pending further UK sustainability disclosure reforms.
How Carbon Trail helps
Compliance Assistance
- Compliance Assistance: Carbon Trail aids fashion brands in navigating UK FCA Listing Rules by streamlining data collection and ensuring accurate reporting aligned with TCFD recommendations.
Services for sustainability reporting
- Carbon Accounting: Comprehensive tracking of carbon emissions.
- Product Life Cycle Assessment (LCA): Life Cycle Assessments to evaluate environmental impact.
- Digital Product Passports: Creating transparency through digital tools.
- Decarbonization Services: Strategies to reduce carbon footprints effectively.
Frequently asked questions
Do FCA TCFD rules still apply if a company also reports under UK CFD regulations?
Yes. Listed issuers may have overlapping company-law and FCA obligations and should ensure the annual report satisfies both where applicable.
