The new sustainability disclosure requirements and investment labels regime was introduced by the Financial Conduct Authority (FCA) to improve clarity and address the risks of greenwashing in the UK financial markets. The policy includes four sustainability labels (all of which have the same status – ie there is no hierarchy) and an anti-greenwashing rule applicable to FCA-regulated firms. Overall the FCA have taken a very pragmatic approach (eg in areas like minimum portfolio composition and temporary breaches) which also avoids many of the issues posed by the EU Sustainable Finance Disclosure Regulation regime by contrast (which was intended to be a disclosure regime but has become a de facto labelling regime). However some uncertainty remains notably around the practical adoption of the newly introduced labels as well as the application of the regime to overseas funds which are not currently covered. Implementation of the regime...