UK Sustainability Disclosure Requirements (SDR)
The UK’s Financial Conduct Authority (FCA) has introduced a set of measures designed to help consumers identify sustainable investments and protect them from greenwashing. These measures include four optional investment labels, new disclosure requirements, and an anti‑greenwashing rule.
SDR is a set of rules for UK asset managers and distributors of investment products. Its purpose is to ensure that products marketed as sustainable genuinely meet defined standards and provide clear, transparent information to consumers.
Key Features of SDR
Invetsment Labels
These labels are optional- providers may use them only if their funds meet the required criteria. Each reflecting a different type of sustainability objective and investment approach.
- Sustainability Focus
Funds that invest mainly in assets that are environmentally and/or socially sustainable.
- Sustainability Improvers
Funds investing mainly in assets that have the potential to improve environmental and/or social sustainability over time.
- Sustainability Impact
Funds that aim to achieve a positive measurable impact in relation to an environmental and/or social outcome.
- Sustainability Mixed Goals
Funds that invest in line with a combination of 2 or more of the other categories.
Non-Label funds
Investment funds that consider sustainability factors but choose not to use one of the FCA's official sustainability investment labels, or use only basic ESG integration. This will ensure any sustainability-related claims are transparent and reliable. For funds that do have sustainability features but choose not to apply a label, there is a requirement to provide certain disclosures.
Clear Disclosures
Products using sustainability labels—or sustainability-related terms, must provide:
- Consumer-facing disclosures: These standalone documents are simple summaries for investors that explain the sustainability characteristics of a fund, to help you make informed decisions.
- Pre-contractual disclosures: More detailed information about the sustainability characteristics of a fund.
- Ongoing disclosures: Provide regular updates on how the fund is performing against its sustainability objectives, or characteristics.
Naming & Marketing Rules
Products must follow strict rules on how sustainability-related terms like “green,” “impact,” or “sustainable” are used in names and marketing materials.
Anti-Greenwashing Rule
All FCA-authorised firms must ensure that any sustainability-related claims are fair, clear, and not misleading.
What are Consumer-Facing Disclosures and Product Reports?
A Consumer‑Facing Disclosure for a non‑labelled product provides a short, accessible explanation of the product’s sustainability related features.
A Product Report provides an annual, factual overview of any sustainability‑related features of the product, outlining how these elements have been applied in practice over the year.
Please find our Product Reports in the section below.
Our product reports
Our views on sustainable investing
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Sustainability
Duty calls for advisers
8 Sep 2026
Changes to regulations and consumer expectations are transforming the landscape for financial advisers, according to Marc Lepere.
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Equities
UK and EU sustainability regulations: Could a narrow focus be missing the bigger picture?
27 Aug 2026
Regulation must recognise that sustainable investing incorporates more than the provision of sustainable funds alone.
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Equities
2026 AGM season
10 Aug 2026
As AGM season winds down, we examine the key trends that influenced resolutions and outline our core principles for voting.
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Equities
Driving stewardship together
29 Jul 2026
Aviva’s Investments, Wealth and Retirement business and Aviva Investors are working together to deliver financial and sustainable outcomes, connecting clients to their capital.
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Fixed income
Taking the leap: Incorporating climate in core investment-grade allocations
16 Jun 2026
How can investors align their credit allocations to net-zero commitments and maintain returns?
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Equities
Confidence in a changing climate
15 Jun 2026
How can institutions forge impactful climate strategies that are right for them and their end beneficiaries? Our “Confidence in a changing climate” guide showcases some of the solutions we have developed to help.
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Equities
Sustainability review 2025
2 Jun 2026
We believe understanding sustainability factors and trends is fundamental to effective asset management. This report sets out our approach and includes an overview of our holistic stewardship activities over the past year
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Private Markets
Solid foundations: Delivering social value to unlock investment value
26 May 2026
Supporting employment, skills and training opportunities for local people produces lasting social value. But it is also key to delivering long-term investment returns.
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Sustainability
Infrastructure equity Q&A: Uniting innovation and rigour
3 Feb 2026
Angenika Kunne outlines Aviva Investors’ infrastructure equity strategy and the key themes driving origination, management and value creation.
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Sustainability
UK low-carbon policy: What to look out for in 2026
27 Jan 2026
Aviva’s Nick Molho looks at this year’s policy priorities and likely developments for the UK’s low-carbon agenda, and reflects on what it means for investors.
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Sustainability
Cities of the future: What will cities look like in 2050?
8 Jan 2026
Today’s private market investments will shape 2050 cities. We explore what this could look like, and the related challenges and opportunities.
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Fixed income
Buy and maintain credit: Taking the road to net zero
15 Dec 2025
Long-term trends like climate change are particularly important for buy-and-maintain investors. How can they integrate climate objectives, such as net zero by 2050, into their portfolios?
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Equities
Boosting low-carbon investment in the UK: 2025 Roadmap Update
11 Dec 2025
In 2024, we outlined our view on the most important public-policy interventions to unlock private investment in the low-carbon economy. In this update, we take stock of policy developments since, and look ahead to 2026 and beyond.
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Sustainability
Navigating nature: Opportunities for the investor of tomorrow
10 Dec 2025
Our society, economies and financial systems are embedded in nature, not external to it. This paper sets out the actions we are taking to understand nature-related risks and opportunities to deliver outcomes that meet our clients’ needs, and to support nature-related global goals.
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Sustainability
Aviva Investors’ Social Value Label: Recognising achievements during construction
11 Nov 2025
The newly launched Aviva Investors’ Social Value Label recognises quality practice in the construction supply chain. It will be awarded to contractors who deliver social value when building commercial real estate.
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Sustainability
A tale of two priorities: Aligning financial flows to climate mitigation
30 Oct 2025
Financial flows shall be “consistent with low greenhouse-gas emissions and climate-resilient development”, according to Article 2.1.c of the Paris Agreement. Yet most finance continues to flow to business as usual. How can this change?