The expected costs of complying with the proposals contained in the Financial Conduct Authority’s (FCA) latest discussion paper on climate-related disclosures* (CP 31/17) are very small according to the cost-benefit analysis (CBA) that accompanies it, both in absolute terms and relative to the volume of client assets managed and administered.

The FCA estimates that it would cost the 140 asset managers that would fall within the scope of its proposals £199.5 million and £114.9 million in one-off and ongoing costs respectively (Appendix 2, paragraph 32).

The average one-off and ongoing costs for an individual large fi...