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)
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
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
On 24 March 2024, the European Parliament approved the Corporate Sustainability Due Diligence Directive (CSDDD) with a vote of 374 in favour (compared with 235 votes against and 19 abstentions)....more
4/26/2024
/ Compliance ,
Corporate Governance ,
Disclosure Requirements ,
Due Diligence ,
EU ,
EU Directive ,
European Parliament ,
Member State ,
Supply Chain ,
Sustainability ,
Sustainable Business Practices
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
The FCA’s long-awaited regime seeks to raise standards, increase consumer understanding, and reduce instances of greenwashing.
On 28 November 2023, the FCA published its Policy Statement (PS23/16) containing final rules on...more
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
The European Union’s Corporate Sustainability Reporting Directive (CSRD), which entered into force in January 2023, marks a new era for ESG reporting across Europe (and globally). CSRD is the latest in a wave of new rules...more
7/26/2023
/ Climate Change ,
Corporate Governance ,
Corporate Social Responsibility ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
EU ,
EU Directive ,
Member State ,
Portfolio Companies ,
Private Equity ,
Reporting Requirements ,
Sustainability ,
Sustainable Business Practices
On June 26, 2023, the International Sustainability Standards Board (ISSB) released its first two standards for sustainability disclosures, which are designed to facilitate the disclosure of sustainability-related information...more
The public consultation seeks input on the priorities, strategic direction, and future work of the ISSB.
On 4 May 2023, the International Sustainability Standards Board (ISSB) launched a public consultation to seek input...more
The Commission has clarified requirements for financial product classifications and the definition of “sustainable investment” under the SFDR. ...more
5/24/2023
/ Alternative Investment Funds ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
EU ,
European Commission ,
European Supervisory Authorities (ESAs) ,
Financial Products ,
Investors ,
Market Participants ,
Marketing ,
Regulation Technical Standards (RTS) ,
SFDR ,
Sustainability ,
Sustainable Business Practices ,
UCITS
The government published a new document outlining its existing and proposed objectives to develop the UK’s sustainable economy.
On 30 March 2023, the UK government published an updated version of its Green Finance...more
4/28/2023
/ Carbon Capture and Sequestration ,
Climate Change ,
Corporate Governance ,
Disclosure Requirements ,
Financial Institutions ,
Green Finance ,
Investment ,
Investors ,
Net Zero ,
Public Policy ,
Sustainability ,
Sustainable Business Practices ,
Sustainable Finance ,
Taxonomy ,
UK
The Commission is also consulting on proposed targeted amendments to the Taxonomy Climate Delegated Act and on the Taxonomy Disclosures Delegated Act.
On 5 April 2023 the European Commission opened a consultation on its...more
4/18/2023
/ Climate Change ,
Consultation ,
Disclosure Requirements ,
Environmental Policies ,
EU ,
European Union Delegated Act (EUDA) ,
Green Finance ,
Proposed Amendments ,
Sustainability ,
Sustainable Finance ,
Taxonomy
The fourth beta version establishes draft disclosure metrics as well as biome and sector guidance — with final TNFD recommendations due in September 2023.
The Taskforce on Nature-Related Financial Disclosures (TNFD)...more
From 2024 at the earliest, more European and global companies will need to disclose their ESG activities in greater detail.
On 10 November 2022, the European Parliament adopted a final version of the Corporate...more
11/18/2022
/ Corporate Counsel ,
Corporate Governance ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
EU ,
EU Directive ,
European Commission ,
European Parliament ,
Financial Reporting ,
Sustainability ,
Sustainable Business Practices
The FCA hopes the proposals will protect consumer trust in ESG-related financial products and help consumers navigate the increasingly complex ESG-related financial market.
On 25 October 2022, the UK’s Financial Conduct...more
The outcome of the review may signal what climate-related laws and policies to expect in the UK in the coming years.
On 8 September 2022, newly appointed UK Prime Minister Liz Truss announced that Chris Skidmore MP, a...more
9/27/2022
/ Climate Change ,
Disclosure Requirements ,
Emissions Trading System ,
Environmental Policies ,
EU Directive ,
Greenhouse Gas Emissions ,
Net Zero ,
SFDR ,
Sustainability ,
Sustainable Business Practices ,
UK
This Client Alert probes the ESG “materiality assessment” process, why it is a misnomer, when and how the assessment can be conducted, and legal and practical tips for conducting the assessment.
Companies have been...more
The call highlights the challenges in developing alignment between global ESG reporting standards.
The European Central Bank (ECB) and the International Monetary Fund (IMF), two of the world’s leading public financial...more
8/22/2022
/ Climate Change ,
Corporate Governance ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
EU ,
European Central Bank ,
IFRS ,
IMF ,
International Regulatory Standards ,
Net Zero ,
Regulatory Standards ,
Securities and Exchange Commission (SEC) ,
Sustainable Finance ,
Task Force on Climate-related Financial Disclosures (TCFD)