The Financial Sector Conduct Authority (FSCA) has published two documents under its Sustainable Finance Programme of Work: the FSCA Sustainable Finance Update Report 2026 and a Discussion Paper on ESG Rating Services and Data Providers. The Discussion Paper is released for public consultation.
The FSCA Sustainable Finance Update Report 2026 outlines progress made during the 2025/26 financial year across the five pillars of the FSCA’s Sustainable Finance Programme of Work, namely: Green Finance Taxonomy; Disclosure, Reporting and Assurance; Market Development; Active Ownership; and Consumer Education.
The Update Report builds on the FSCA’s Statement on Sustainable Finance and Programme of Work dating back to 31 March 2023, as well as subsequent publications, including the Sustainable Finance Consumer Risk Report and Roadmap 2024 and the FSCA’s Sustainable Finance Update Report 2025.
The Discussion Paper on ESG Rating Services and Data Providers presents the FSCA’s preliminary observations and key considerations regarding ESG rating services and data products, including challenges related to transparency, governance, and conflicts of interest. It also reviews regulatory approaches in other jurisdictions. The Discussion Paper is consultative and seeks views on the future treatment of ESG Rating Services and Data Providers.
The FSCA invites stakeholders and interested parties to submit written comments on the Discussion Paper using the prescribed comment template. Submissions should be sent to FSCA.RFDStandards@fsca.co.za by no later than 30 April 2026.
The FSCA will continue to engage with stakeholders as it advances its sustainable finance programme. Feedback from this consultation will inform the ongoing development of South Africa’s sustainable finance regulatory and supervisory framework.

Mental
Wendy Luhabe\’s first step into entrepreneurship came in 1991 when she launched Bridging the Gap, a consulting firm that assists young black South Africans entering the working world. In 1993, she launched Women Investment Portfolio Holdings, the first fund to provide capital to women-owned businesses in South Africa. In 2002, she launched Africa\’s first Women-Focused Private Equity Fund. She also published her first book entitled: Defining Moments: Experiences of Black Executives in South Africa\’s Workplace. Luhabe launched her Foundation in 2002, to educate young disadvantaged black women, particularly from rural areas. In 2011, Luhabe was asked by Hillary Clinton to join the International Council on Women\’s Business Leadership (ICWBL). In 2014, she was appointed Member of the Board at The Abraaj Group, a global investment firm. In 2014, she was awarded Woman of Worth from the Jewish Achievers Awards in South Africa. In 2014, she was awarded the Lieutenant of the Victorian Order (LVO) by the British Royal Family. In 2015, she was awarded Lifetime Achievement Award at the Standard Bank Top Women Awards.