The European Commission has extended the deadline for the European Financial Reporting Advisory Group (EFRAG) to submit its technical advice on simplifying the European Sustainability Reporting Standards (ESRS) under the...more
After a number of rounds of drafts, the EU Council has signed off on its position regarding the revisions to CSRD and CSDDD brought about by the Omnibus....more
6/26/2025
/ Corporate Governance ,
Corporate Social Responsibility ,
Corporate Sustainability Reporting Directive (CSRD) ,
Disclosure Requirements ,
Due Diligence ,
EU ,
New Regulations ,
Omnibus Guidance ,
Proposed Legislation ,
Regulatory Reform ,
Reporting Requirements ,
Sustainability
On June 25, the UK Government published Exposure Drafts of the UK Sustainability Reporting Standards (UK SRS), based on the IFRS Sustainability Disclosure Standards (IFRS S1 and S2)...more
6/26/2025
/ Comment Period ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
Government Agencies ,
IFRS ,
International Sustainability Standards Board (ISSB) ,
Proposed Legislation ,
Proposed Rules ,
Regulatory Reform ,
Reporting Requirements ,
Sustainability ,
UK
In early 2023, the FCA released a discussion paper seeking to encourage industry-wide dialogue on financial services firms’ sustainability-related governance, incentives, and competence. This was part of the FCA's broad...more
4/7/2025
/ Corporate Governance ,
Environmental Social & Governance (ESG) ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Financial Services Industry ,
Net Zero ,
Proposed Rules ,
Regulatory Reform ,
Regulatory Requirements ,
Sustainability ,
UK
The European Commission proposed the EU Omnibus package on February 26 to reduce the burden, and delay application, of the EU Corporate Sustainability Reporting Directive (CSRD) and the EU Corporate Sustainability Due...more
4/2/2025
/ Corporate Governance ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
EU ,
European Commission ,
Proposed Legislation ,
Publicly-Traded Companies ,
Regulatory Agenda ,
Regulatory Reform ,
Regulatory Requirements ,
Reporting Requirements ,
Sustainability
In its meeting of March 20, 2025, the European Council expressed its support of the so-called Omnibus Package proposed by the European Commission on February 26, 2025. The Omnibus Package includes significant changes to EU...more
3/31/2025
/ Corporate Governance ,
Disclosure Requirements ,
Due Diligence ,
Environmental Social & Governance (ESG) ,
EU ,
European Commission ,
European Parliament ,
Regulatory Reform ,
Reporting Requirements ,
Sustainability ,
Sustainable Finance
The European Union published its long-awaited "Omnibus" package, proposing to delay key European ESG rules, while simultaneously reducing the applicability and burden of corporate sustainability reporting and due diligence...more
2/27/2025
/ Carbon Emissions ,
Corporate Governance ,
Corporate Sustainability Reporting Directive (CSRD) ,
Disclosure Requirements ,
Due Diligence ,
Environmental Social & Governance (ESG) ,
EU ,
Investors ,
Omnibus Guidance ,
Regulatory Requirements ,
Sustainability
As companies operating in the European Union ("EU") likely now know, new environmental, social, and governance ("ESG") regulations are set to have a significant impact on disclosure and governance obligations for EU and...more
12/10/2024
/ Business Strategies ,
Climate Change ,
Corporate Governance ,
Corporate Social Responsibility ,
Corporate Sustainability Reporting Directive (CSRD) ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
EU ,
Publicly-Traded Companies ,
Reporting Requirements ,
Sustainability
On April 24, 2024, the European Parliament voted to adopt the Corporate Sustainability Due Diligence Directive ("CS3D"). As described in a recent Jones Day Alert, this followed the Council of the European Union ("the...more
The Council of the European Union ("EU") approved the Corporate Sustainability Due Diligence Directive ("CS3D") on March 15, 2024. The CS3D contains due diligence and governance obligations that will have an extensive impact...more
3/20/2024
/ Due Diligence ,
Environmental Social & Governance (ESG) ,
EU ,
EU Directive ,
European Commission ,
Financial Institutions ,
Green Deal ,
Regulatory Agenda ,
Reporting Requirements ,
Risk Assessment ,
Sustainability
The Council of Europe and the European Parliament announced on December 14, 2023, that they reached a political agreement on the text of the upcoming European Union ("EU") Corporate Sustainability Due Diligence Directive...more
The EU’s Corporate Sustainability Reporting Directive (“CSRD”) requires the most detailed and onerous ESG reporting and disclosures anywhere in the world. All told, it is estimated that more than 50,000 companies, including...more
9/21/2023
/ Air Pollution ,
Biodiversity ,
Climate Change ,
Disclosure Requirements ,
Due Diligence ,
Environmental Social & Governance (ESG) ,
EU ,
European Commission ,
Parent Corporation ,
Proposed Regulation ,
Proposed Rules ,
Sustainability ,
Water
The European Parliament has adopted the near-final version of the Corporate Sustainability Reporting Directive under which European Union ("EU") companies (including non-EU companies with substantial business activity in the...more
After June 30, 2021, large asset managers will no longer have the option to "explain" noncompliance with Article 4 of EU Regulation (EU) 2019/2088 on sustainability‐related disclosures in the financial services sector...more