On 31 July 2023, the Commission adopted the European Sustainability Reporting Standards (ESRS) for companies reporting under the Corporate Sustainability Reporting Directive ((EU) 2022/2464) (CSRD). The ESRS are based on...more
Just as the financial community is getting to grips with TCFD, TNFD has arrived. TNFD provides a framework for disclosure of nature-related financial information – the ways in which nature risks might impact a business, its...more
Throughout July we have continued to see key developments in ESG and sustainable finance regulation as regulators and legislators start to move into summer recess. Notably this week we have seen the adoption by the European...more
The submission window on a second Australian government consultation paper on climate change disclosure closed on 21 July 2023. Climate-related disclosure obligations look set to be introduced in three phases from 2024...more
In this article, we take a look at the UK TCFD-aligned climate-related financial disclosures (contained in the Companies Act, the UK Listing Rules and the FCA’s ESG Sourcebook) and what organisations need to know to comply...more
Last week Sharon Lewis, Arwen Handley, Rita Hunter, Bryony Widdup and Emily Julier shared a wonderful evening in London with select clients in conversation on ESG-related topics. The roundtable discussion was enjoyable and...more
In this second article in the series, we look at TCFD-aligned reporting and the TCFD recommendations: who they apply to, why they are needed and what is required by them....more
As we reach the midway point of 2023, the Hogan Lovells Sustainable Finance and Investment practice thought it would be useful to provide a review of recent key ESG developments from March-June 2023 to assist with navigating...more
7/10/2023
/ Banking Sector ,
Banks ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
EU ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
HM Treasury ,
International Capital Markets Association (ICMA) ,
Popular ,
Sustainability ,
Sustainability-Linked Loans (SLLs) ,
UK
Private equity general partners (GPs) are facing increasing pressure from their investors (LPs) to prioritise environmental, social and governance issues. This shift presents significant opportunities for LPs to invest in...more
The LMA published its Draft Provisions for Sustainability-Linked Loans on 4 May 2023, following on from the updated the Sustainability Linked Loan Principles published in February 2023. In this article, we take an in depth...more
On 13 June 2023, the European Commission published a new sustainable finance package. In particular the package of measures included (i) recommendations in respect of facilitating transition finance, (ii) a proposal in...more
On 23 May 2023, the European Council and the European Parliament reached a provisional agreement on three proposals jointly creating the European Single Access Point (ESAP) as part of the Capital Markets Union Action Plan. ...more
On 13 June 2023, the European Commission published a proposal for a regulation on the transparency and integrity of ESG rating activities, following concerns about the reliability, comparability and transparency of ESG...more
6/21/2023
/ Data Collection ,
Environmental Impact Report (EIR) ,
Environmental Social & Governance (ESG) ,
EU ,
European Commission ,
European Securities and Markets Authority (ESMA) ,
Green Deal ,
Green Finance ,
Investment ,
Popular ,
Ratings ,
Regulatory Agenda ,
Regulatory Reform ,
Securitization ,
Structured Finance ,
Sustainable Finance
On 12 April 2023, the three European Supervisory Authorities (EBA, EIOPA and ESMA, together the ESAs) published a joint consultation paper in response to their joint mandate to review and revise the RTS supplementing SFDR....more
The FCA has confirmed that it is delaying its final rules and policy statement in relation to the Sustainability Disclosure Requirements and investment labels proposals from the end of June 2023 to Q3 2023....more
In this article we consider the UK Transition Plan Taskforce (TPT) and the draft disclosure framework which was published in November 2022 for consultation. The TPT disclosure framework sets out voluntary “gold standard”...more
On 23 February 2023, the Loan Market Association (LMA), the Loan Syndications & Trading Association (LSTA) and the Asia Pacific Loan Market Association (APLMA) published updated versions of Green Loan Principles and Guidance,...more