The CMA's Environmental Sustainability Guidance on Chapter I of the Competition Act 1998

The Competition and Markets Authority (CMA) has issued new guidance on the application of Chapter I of the Competition Act 1998 to environmental sustainability agreements. This guidance, published on 12 October 2023, offers an overview of how to comply with competition law when crafting these agreements. The Financial Conduct Authority (FCA), which also has concurrent powers to enforce competition law in the financial services sector, welcomes the guidance and plans to collaborate with the CMA to further develop it. The FCA encourages stakeholders to bring any potential ESG-related initiatives that might raise novel and significant concerns to their attention so they can provide clarification, take other regulatory actions, and direct inquiries to and work with the CMA.