LONDON - Asset managers, pension schemes and some large companies will need to start disclosing their environmental impact under planned new rules, Britain's finance minister said on Monday.
The Sustainability Disclosure Requirements will aim to help investors check the degree to which their money is invested in funds and companies aligned with the world's transition to a low-carbon economy.
"We are already a world leader in green finance, and today's roadmap will give us the opportunity to set new global standards for sustainability that will boost the economy, protect the planet and support our net zero goals," Chancellor Rishi Sunak said in a statement.
"We want sustainability to be a key component of investment decisions, and our plans will arm investors with the right information to make more environmentally-led decisions."
The rules will aim to help stamp out "greenwashing", or misleading claims about a company or fund's environmental sustainability, and follows the launch of similar rules in the European Union.
Ahead of global climate talks in Scotland starting Oct. 31, the government said in a statement that it planned legislative and regulatory changes to help set "world-leading standards on environmental sustainability reporting".
(Reporting by Simon Jessop; editing by David Evans)