As reported in the Financial Times, the UK government has set a plan in motion to regulate agencies evaluating companies' environmental, social, and governance (ESG) performance, addressing concerns about the largely unregulated sector's influence on trillions of pounds in sustainable investments.
The proposal, expected in January next year, follows a three-month consultation that closed in June. Currently, there is minimal oversight on how organizations create ESG criteria and rate other companies against them. "We're not waiting for a crisis [to act]," said Sacha Sadan, head of environmental, social, and governance issues at the UK's Financial Conduct Authority (FCA).
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