CP24/8: Extending the SDR regime to Portfolio Management

Read CP24/8 (PDF)

Why we are consulting 

We want to help consumers, including those who use portfolio management services, to navigate the sustainable investment market by extending the SDR and labelling package to portfolio management.

We consulted on including portfolio management in our earlier consultation, CP22/20. We received detailed, supportive feedback from the consultation and our recent engagement, which has helped us refine our proposals for this sector.

We are proposing to apply a broadly similar approach to labelling for portfolio managers as introduced for fund managers, to have a consistent approach and create a level playing field.

Who should respond

This consultation applies to:  

• firms providing portfolio management services

Next steps

This consultation has now closed.

We are aware that it is taking longer than expected for some asset managers to comply with the SDR and labelling regime and of the potential impact this might have on portfolio managers. This has been highlighted to us in the consultation feedback and industry engagement.

We thank all the respondents and the many stakeholders we have engaged with for their constructive and detailed feedback.

February 2025 update

We want to ensure an extension of SDR to portfolio management delivers good outcomes for consumers, is practical for firms and supports growth of the sector.

We will take the necessary time to deliver these outcomes, therefore we no longer intend to publish a Policy Statement in Q2 2025.

We will continue to reflect on the feedback and provide further information in due course.

Background

This consultation follows our Consultation Paper (CP22/20) and corresponding Policy Statement (PS23/16) on Sustainability Disclosure Requirements and investment labels, which introduced a package of measures for fund managers.