South Korea’s Constitutional Court has issued a “first of its kind” decision in Asia, requiring South Korea to update its greenhouse gas reduction targets.
On 29 August 2024, South Korea’s Constitutional Court (the...more
9/24/2024
/ Climate Change ,
Compliance Dates ,
Constitutional Courts ,
European Court of Human Rights ,
Greenhouse Gas Emissions ,
Human Rights ,
Japan ,
Member State ,
Presidential Decrees ,
South Korea ,
Taiwan
In the December 2023 edition of Regulatory Updates in Asia ESG we provided an update on how jurisdictions across Asia are responding to the International Sustainability Standards Board (ISSB) standards. Several regulators in...more
9/3/2024
/ Asia ,
Climate Change ,
Consultation ,
COP ,
Corporate Governance ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
Greenhouse Gas Emissions ,
Hong Kong ,
IFRS ,
International Regulatory Standards ,
IOSCO ,
Regulatory Standards ,
Sustainability ,
Sustainable Business Practices
The FAQs aim to clarify key aspects of the CSRD, including the scope of the rules, compliance dates, and exemptions.
On 7 August 2024, the European Commission (Commission) published a set of frequently asked questions...more
8/14/2024
/ Climate Change ,
Corporate Counsel ,
Corporate Governance ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
EU ,
Parent Corporation ,
Small and Medium-Sized Enterprises (SMEs) ,
Subsidiaries ,
Sustainability ,
Sustainable Business Practices ,
Third Country Entities (TCEs)
The ESPR aims to make sustainable products the norm in the EU, replacing the current Ecodesign Directive and introducing broader measures for sustainability....more
On 5 July 2024, the final text of the Corporate Sustainability Due Diligence Directive (CSDDD) was entered into the Official Journal of the EU. The CSDDD will enter force on 25 July 2024. This marks the final key step in the...more
7/15/2024
/ Climate Change ,
Corporate Governance ,
Corporate Social Responsibility ,
Disclosure Requirements ,
Due Diligence ,
Environmental Social & Governance (ESG) ,
EU ,
EU Directive ,
Member State ,
Reporting Requirements ,
Supply Chain ,
Sustainability ,
Sustainable Business Practices
The CSDDD is set to impose mandatory human rights and environmental due diligence obligations for in-scope companies.
On 5 July 2024, the Corporate Sustainability Due Diligence Directive (CSDDD) was published in the...more
7/9/2024
/ Climate Change ,
Corporate Governance ,
Corporate Social Responsibility ,
Disclosure Requirements ,
Due Diligence ,
Environmental Social & Governance (ESG) ,
EU ,
EU Directive ,
Member State ,
Reporting Requirements ,
Supply Chain ,
Sustainability ,
Sustainable Business Practices
The Standards provide a framework for all Chinese companies’ sustainability disclosures and the applicability extends beyond listed companies.
On May 27, 2024, China’s Ministry of Finance published the new Corporate...more
7/5/2024
/ China ,
Climate Change ,
Corporate Governance ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
IFRS ,
Ministry of Finance ,
Privately Held Corporations ,
Publicly-Traded Companies ,
Reporting Requirements ,
Risk Management ,
Sensitive Business Information ,
Sustainability ,
Sustainable Business Practices
Finch v. Surrey calls for assessment of all likely direct and indirect environmental effects in EIAs, including certain Scope 3 emissions if a reasonable estimate is feasible.
On 20 June 2024, the UK Supreme Court (the...more
7/3/2024
/ Climate Change ,
Energy Projects ,
Energy Sector ,
Environmental Assessments ,
Environmental Impact Statements ,
Environmental Litigation ,
Fossil Fuel ,
Greenhouse Gas Emissions ,
Oil & Gas ,
UK ,
UK Supreme Court
The ISSB’s new two-year work plan aims to reduce complexity and build on market-leading frameworks and standards.
...more
This guidance aims to support the preparation and analysis of reports using the European Sustainability Reporting Standards.
On 31 May 2024, EFRAG published the first three Implementation Guidance (IG) documents relating...more
6/19/2024
/ Climate Change ,
Compliance ,
Corporate Governance ,
EU ,
EU Directive ,
Materiality ,
New Guidance ,
Reporting Requirements ,
Risk Assessment ,
Supply Chain ,
Sustainability ,
Sustainable Business Practices
On 16 May 2024, the government published updated guidance regarding the UK Sustainability Disclosure Requirements (SDR) framework.
The SDR was first set out in Greening Finance: A Roadmap to Sustainable Investing in...more
5/28/2024
/ Climate Change ,
Consultation ,
Corporate Governance ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
New Guidance ,
Publicly-Traded Companies ,
Reporting Requirements ,
Sustainability ,
Sustainable Business Practices ,
Transitional Arrangements ,
UK
For the first time, the Court has confirmed that the adverse impacts of climate change fall within the ambit of human rights protection under the European Convention of Human Rights, obliging States to implement effective...more
The Accounting and Corporate Regulatory Authority and Singapore Exchange Regulation have provided details of mandatory climate reporting for listed issuers and large non-listed companies.
On 28 February 2024, the...more
The directive aims to reduce waste and bolster the repair sector.
On 2 February 2024, the European Parliament (Parliament) and European Council (Council) reached a provisional deal on a directive promoting the repair of...more
On 6 February 2024, the European Commission (Commission) presented its recommendations for the EU’s 2040 climate target, following a detailed impact assessment on potential emission reduction pathways. This publication aligns...more
For in scope companies, disclosures may be required as early as the reporting period for the 2024 financial year.
On 22 December 2023, the Commission Delegated Regulation specifying the first set of European...more
1/8/2024
/ Climate Change ,
Corporate Governance ,
Disclosure Requirements ,
EU ,
European Commission ,
International Regulatory Standards ,
Materiality ,
Public Consultations ,
Regulatory Standards ,
Sustainability ,
Sustainable Business Practices
Goods imported into the UK from countries with a lower or no carbon price will face a levy by 2027.
On 18 December 2023, the UK government announced a proposal for a new carbon border adjustment mechanism (UK CBAM)....more
The Taxonomy aims to define green and transition economic activities to identify and allocate capital to sustainable projects and initiatives.
On 3 December 2023, the Monetary Authority of Singapore (MAS) unveiled the...more
The artificial intelligence platform is the most recent development in Singapore’s green initiatives as part of Project Greenprint.
A new platform called “Gprnt.ai” (Gprnt), which launched in November 2023, aims to unify...more
The Act demonstrates the UK’s renewed commitment to reaching net zero and paves the way for players in key industries to achieve their targets.
On 26 October 2023, the UK Energy Act 2023 (the Act) received Royal Assent....more
11/1/2023
/ Carbon Capture and Sequestration ,
Climate Change ,
Energy Storage ,
Greenhouse Gas Emissions ,
Hydrogen Power ,
National Energy Act ,
Net Zero ,
New Legislation ,
Nuclear Power ,
Public Projects ,
Renewable Energy ,
Tender Offers ,
UK ,
UK Competition and Markets Authority (CMA)
The framework claims to set the “gold standard” for companies to contribute to the net zero transition while emphasising ambition, action, and accountability.
The UK Transition Plan Taskforce (TPT) launched its...more
10/12/2023
/ Climate Action Plan ,
Climate Change ,
Consultation ,
COP ,
Federal Agency Taskforce ,
Financial Conduct Authority (FCA) ,
Framework Agreement ,
Greenhouse Gas Emissions ,
Regional Greenhouse Initiative ,
Strategic Planning ,
Sustainability ,
Sustainable Business Practices ,
Task Force on Climate-related Financial Disclosures (TCFD) ,
UK
The EU regulators are reviewing the Sustainable Finance Disclosure Regulation introduced in 2021, exploring the need for potential additional adjustments.
On 14 September 2023, the European Commission initiated a...more
9/27/2023
/ Climate Change ,
Consultation ,
Disclosure Requirements ,
EU ,
European Commission ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Green Finance ,
Investment Products ,
SFDR ,
Sustainable Finance ,
UK
On September 18, 2023, the Taskforce on Nature-related Financial Disclosures (TNFD) published recommendations for organizations’ assessment, management, and disclosure of nature-related issues (the Recommendations). These...more
The Green Technical Advisory Group, which is guiding the UK government’s implementation of a UK Green Taxonomy, has issued detailed advice for the upcoming legislation.
In September 2023, the Green Technical Advisory Group...more
The UK standards will aim to increase the comparability and value of reported information for investors.
The UK government announced on 2 August 2023 that it will develop standards for company sustainability disclosures...more
8/4/2023
/ Advisory Committee ,
Climate Change ,
Corporate Governance ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
Financial Conduct Authority (FCA) ,
IFRS ,
Investors ,
Publicly-Traded Companies ,
Sustainability ,
Sustainable Business Practices ,
Task Force on Climate-related Financial Disclosures (TCFD) ,
UK