Good Money Week: FCA warns of clampdown on 'social washing'

Regulator warns it will watch over social issues management

Beth Brearley
clock • 3 min read

Sacha Sadan has warned that the Financial Conduct Authority (FCA) has its eye on ‘social washing' and that the issue is just as prevalent as greenwashing.

Speaking at an SRI Services & Partners event for Good Money Week on yesterday (6 October), the FCA's director of ESG said that how asset managers tackle social issues "will be very important in the next few years". "Consumers and the electorate care about that a lot," he added. "You hear about greenwashing but you don't hear about ‘social washing', but it's just as bad and we will hear a lot more about it over the next few years." Earlier this week, FCA technical specialist in sustainable finance and stewardship Mark Manning told Good Money Week delegates that the long-awaited Sustain...

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