When the Sustainability Disclosure Requirements (SDR) were unveiled in November 2023, the Financial Conduct Authority (FCA) had certain expectations regarding uptake and compliance.
In a press conference at the time, the regulator revealed that, of the some 630 funds that comprised the SDR universe, it expected about 45% to adopt one of the four - labels Sustainability Focus, Sustainability Improvers, Sustainability Impact and Sustainability Mixed Goals - when the regime came into force. Fast forward to July 2024, when the labelling side of SDR came into play on a voluntary basis, only two funds publicly revealed the adoption of a label – both preferring a ‘Sustainability Impact' one. Frustration beleaguered the sector over the following months, as many lamented...
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