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On 19 April, the FCA announced that it has appointed a new Director of Environment Social and Governance, Sacha Sadan, to lead the development of the UK regulator's sustainable finance policy.
As detailed in our previous post, in March 2021 the FCA was asked to “have regard to the government’s commitment to achieve a net-zero economy by 2050” within a recent letter of recommendations from the Chancellor.
The FCA's update states that Mr Sadan's role will be to "develop and advocate for the FCA’s approach to sustainable finance domestically and internationally. He will lead the development of policy that will help ensure the long-term safety and soundness of firms, the proper functioning of markets and the protection of consumers."
'The FCA is rightly seen as an international leader on the role financial regulation should play in delivering a more sustainable and greener future. We welcome the recent addition to our remit of a requirement to have regard to the UK target of net zero carbon emissions. I am delighted to have someone of Sacha’s experience and insight joining us to help us accelerate this important work.' - Nikhil Rathi, Chief Executive of the FCA
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