On October 25, 2023, the European Council adopted the European Green Bond Standard (EU GBS), a new voluntary regime for green bonds that aims to solidify the EU's position as a leader in sustainable finance, reduce...more
According to a survey conducted by KPMG, 75% of companies are not in a position to obtain third-party assurance on their published ESG data. This is despite the fact that two-thirds of companies must disclose such data, or...more
11/29/2023
/ Business Strategies ,
Capital Investments ,
Climate Action Plan ,
Climate Change ,
Corporate Governance ,
Corporate Social Responsibility ,
Data Management ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
KPMG ,
Publicly-Traded Companies ,
Quality Assurance Programs
On September 20, 2023, the European Investment Bank (EIB) announced that it was developing a methodology to assess its clients’ exposure to nature-related impacts and risks. The EIB reinforced its commitment to address...more
In August 2023, the Australian Department of Climate Change, Energy, the Environment and Water (DCCEEW) solicited feedback on proposed amendments to the Australian Carbon Credit Unit (ACCU) Scheme. This is the third step in...more
On October 9, 2023, the Transition Plan Taskforce (TPT) published the Disclosure Framework providing good practice recommendations for companies to enable them to make “high quality, consistent and comparable transition plan...more
In September 2023, pan-European stock exchange and market infrastructure provider Euronext announced the imminent launch of a range of ESG tools and initiatives focused on sustainable finance, including its intention to...more
10/12/2023
/ Capital Markets ,
Climate Change ,
Corporate Governance ,
Environmental Social & Governance (ESG) ,
EU ,
Euronext ,
Green Finance ,
Investment ,
Investment Management ,
Popular ,
Sustainability ,
Sustainable Finance
Ahead of September 2023’s G20 summit in Delhi, the Farm Animal Investment Risk & Return (FAIRR) Initiative called on G20 Finance Ministers to reform agricultural subsidies to enable countries to meet their net zero greenhouse...more
10/11/2023
/ Agribusiness ,
Biodiversity ,
Climate Action Plan ,
Climate Change ,
COP ,
Environmental Social & Governance (ESG) ,
G20 ,
Greenhouse Gas Emissions ,
Investment ,
Net Zero ,
Subsidies
On May 31, 2023, the European Securities and Markets Authority (ESMA) published a final report on the framework for the 5th ESMA Stress Test Exercise for Central Counterparties (CCPs). For the first time, climate risk has...more
In early September 2023, the Green Technical Advisory Group (GTAG) issued two reports relating to the treatment of green financial products and taxonomy reporting. GTAG was established in 2021 and is an expert group that...more
On September 8, 2023, the United Nations published its first Global Stocktake report on the progress made by nations in addressing climate change. The report, which represents the first comprehensive assessment of nearly 200...more
9/27/2023
/ Carbon Emissions ,
Clean Energy ,
Climate Action Plan ,
Climate Change ,
Environmental Policies ,
Environmental Social & Governance (ESG) ,
Fossil Fuel ,
Greenhouse Gas Emissions ,
Infrastructure ,
Paris Agreement ,
Supply Chain ,
United Nations
On July 31, 2023, the European Commission adopted the long-anticipated European Sustainability Reporting Standards (ESRS) for use by all companies subject to the Corporate Sustainability Reporting Directive (CSRD). The...more
9/20/2023
/ Climate Change ,
Corporate Governance ,
Corporate Social Responsibility ,
Environmental Social & Governance (ESG) ,
EU ,
EU Directive ,
European Commission ,
Investment ,
Reporting Requirements ,
Sustainability ,
Sustainable Business Practices
In August 2023, the UK’s Department of Business and Trade (DBT) announced the creation of new sustainability rules that are intended to align with the IFRS Sustainability Disclosure Standards issued by the International...more
9/19/2023
/ Climate Change ,
Corporate Governance ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
Green Finance ,
IFRS ,
Publicly-Traded Companies ,
Regulatory Agenda ,
Sustainability ,
Sustainable Business Practices ,
UK
In July 2023, the European Commission published its annual Strategic Foresight Report (the Report), focusing on how sustainability and people’s wellbeing can help to achieve President von der Leyen’s six priorities for the...more
A new study by the IBM Institute for Business Value found that approximately half of CEOs and their executive teams surveyed have their compensation tied to the organizations’ performance in relation to sustainability goals....more
The UK Climate Change Committee (CCC) recently released its 2023 statutory report, evaluating the UK’s progress towards reducing greenhouse gas emissions and meeting carbon reduction targets. This report, mandated by the...more
9/7/2023
/ Carbon Emissions ,
Climate Action Plan ,
Climate Change ,
Energy Policy ,
Environmental Policies ,
Fossil Fuel ,
Greenhouse Gas Emissions ,
Hydrogen Power ,
Infrastructure ,
Net Zero ,
Pollution Control ,
Regulatory Agenda ,
Regulatory Reform ,
UK
In June 2023, the UK and France announced a joint plan to launch a new biodiversity credits scheme. Through the Global Biodiversity Credits Roadmap, the two countries have pledged to support private sector biodiversity...more
On July 31, 2023, the European Commission announced its adoption of the European Sustainability Reporting Standards (ESRS) for companies subject to the Corporate Sustainability Reporting Directive (CSRD). The long-awaited...more
On June 18, 2023 Swiss citizens voted in favor of a new climate law intended to promote carbon neutrality by 2050. The Federal Act on Climate Protection Targets, Innovation and Strengthening Energy Security, known as the...more
8/3/2023
/ Climate Action Plan ,
Climate Change ,
Energy Policy ,
Energy Reform ,
Environmental Policies ,
Greenhouse Gas Emissions ,
Infrastructure ,
Oil & Gas ,
Pollution Control ,
Renewable Energy ,
Switzerland
In June 2023, the Science Based Targets initiative (SBTi) published a draft of its Financial Institutions Net Zero (FINZ) Standard to enable financial institutions to establish targets consistent with achieving net-zero...more
7/26/2023
/ Carbon Emissions ,
Climate Action Plan ,
Climate Change ,
Consultation Papers ,
Consumer Financial Products ,
Financial Institutions ,
Financial Services Industry ,
Financing ,
Net Zero ,
Paris Agreement ,
Renewable Energy
The Network of Central Banks and Supervisors for Greening the Financial System (NGFS) is assembling a team of modelling experts to develop short-term climate scenarios that capture the adverse implications in the near term of...more
In May 2023, the Sustainable Markets Initiative (SMI) published a new guide setting out how to use ESG-related metrics effectively in private markets (the ESG Metrics Guide), and how measuring and monitoring these metrics can...more
Following completion by the International Sustainability Standards Board (ISSB) of IFRS S1 (General Requirements for Disclosure of Sustainability-related Financial Information) and IFRS S2 (Climate-related Disclosures), on...more
In April 2023, the European Central Bank (ECB) published its 2022 assessment of climate-related and environmental risk disclosures of EU-based banks, finding that while most “significant institutions” “now disclose at least...more
In April 2023, the Centre for Climate Finance & Investment and the International Energy Agency issued a report identifying and addressing the investment gap in renewable and clean energy in the Association of Southeast Asian...more
On April 21, 2023 the European Commission approved a €401 million scheme proposed by the Czech Republic to promote green district heating from renewable energy and waste heat. The scheme represents another environmentally...more