The Securities and Exchange Commission adopted (in a 3-2 vote) final rules related to climate-related disclosures. These rules had first been proposed in March 2022. In his opening remarks, SEC Chair Gensler noted that the...more
The SEC announced an open meeting for March 6, 2024 to vote and consider adoption of final climate-related disclosure requirements for public companies. This comes after nearly two years since the SEC first proposed its...more
Investment in clean energy solutions is ramping up as governments and businesses race to meet ambitious decarbonization targets. To achieve net-zero emissions by 2050, the International Energy Agency (IEA) estimates that...more
On October 19, 2023, the UK government’s Taskforce on Social Factors (Taskforce) launched a consultation to produce guidance on how pension funds can consider social issues in their investment decisions. The guide is intended...more
On the first day of the two-week United Nations Climate Change Conference of the Parties, more commonly referred to as COP28, delegates reached a landmark agreement to formerly create a Loss and Damage Fund, a rescue and...more
Akin is participating at COP28 and providing regular updates from the conference. Friday, December 1, 2023 Updates: - On Thursday, a group of nations led by the UAE and several European countries agreed to establish a loss...more
The September 2023 publication by the U.S. Treasury Department of its Principles for Net-Zero Financing and Investment ("Principles") marks the first time a major U.S. government agency has provided guidance to the financial...more
There is a growing awareness and demand in the UAE for sustainable investment opportunities. To meet this demand, Jodi Norman and Will Tunstall-Prince explain how recent reforms are now putting sustainable finance at the...more
On September 6, 2023, climate-focused investor engagement initiative Climate Action 100+ (CA100+) published the Net Zero Standard for Diversified Mining (the Standard), allowing investors to assess the transition plans of...more
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
On August 10, 2023, the Australian Securities and Investments Commission (ASIC) announced its third civil penalty proceeding this year for greenwashing against LGSS Pty Limited, which is trustee for superannuation fund Local...more
Methodology - For this report we used a definition of climate finance aligned with the United Nations Framework Convention on Climate Change (UNFCCC) Standing Committee on Finance, which states: “Climate finance aims at...more
The transition to a low-carbon, resilient, and just economy is the greatest investment opportunity of our lifetime. Institutions that are well prepared to embark on Net Zero pathways will be able to take full advantage of...more
Until now, however, no comprehensive estimate existed of the of that opportunity, (or, to put it another way, the size of the financing gap between committed spending and the investment needed to deliver Net Zero by 2050...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
In a civil suit filed in Oregon state court in June 2023, an Oregon county is suing more than a dozen large oil, gas and coal companies, seeking more than $50 million in damages, in connection with a 2021 “heat dome” and...more
Australia continues to be a highly active jurisdiction for climate-related lawsuits. The last few years have seen multiple suits commenced against corporations and governments in relation to climate issues, with more filings...more
In June 2023, Climate Action 100+, a climate-focused investor initiative, launched the second phase of its benchmarking program to help investors assess and engage with public companies on climate-related issues. Phase 2...more
ACRA and SGX RegCo are consulting on recommendations for climate-related disclosure reporting for Singapore companies. The recommendations cover both listed and large non-listed companies. The requirement will be rolled out...more
In April 2023, as part of ongoing efforts to enhance transparency, Morningstar Sustainalytics launched a ratings system designed to provide investors with an assessment of a company’s current net-zero alignment. The company’s...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 March 28, 2023, the Taskforce on Nature-related Financial Disclosures (TNFD) announced the release of the fourth and final iteration of its beta framework for nature-related risk management and disclosures, including a...more
The Institutional Investors Group on Climate Change (IIGCC), a European membership body for investor collaboration on climate change, announced the launch of its Net Zero Engagement Initiative (NZEI). A primary goal of the...more
The European Commission last month announced a proposed Net-Zero Industry Act designed to drive the investment in and the growth of the clean technology manufacturing sector. The proposed Act is part of the Green Deal...more
In early April, the climate activist shareholder group, Follow This, filed shareholder resolutions seeking stronger energy transition strategies from several oil “super-majors.” The resolutions have been filed in advance of...more