FG24/3: Finalised non-handbook guidance on the anti-greenwashing rule

Read FG24/3 (PDF)[1]

What we are introducing

This guidance is to help firms understand and comply with the anti-greenwashing rule. The anti-greenwashing rule and guidance is intended to complement and be consistent with existing rules and expectations.

Who this is for

• all authorised firms

Next steps

All authorised firms need to meet the anti-greenwashing rule on 31 May 2024.

We are bringing the guidance into force at the same time to help firms understand and implement our rule.

Background

We want to protect consumers against greenwashing so they can make informed decisions that are aligned with their sustainability preferences. We also want to create a level playing field for firms in an evolving market. We introduced the anti-greenwashing rule to clarify to firms that sustainability-related claims about their products and services must be fair, clear and not misleading. It gives us an explicit rule on which to challenge firms if we consider they are making misleading sustainability-related claims.

The anti-greenwashing rule is one part of a package of measures we finalised in November 2023 through our Sustainability Disclosure Requirements (SDR) and investment labels regime (PS23/16)[2]. When we published PS23/16 we consulted on general guidance[3] to support the implementation of the anti-greenwashing rule.

The consultation on this guidance closed on 26 January 2024.