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 Situation: On October 5, 2023, the European Parliament and the Council of the European Union adopted the European Green Bond Regulation ("EuGB Regulation"), establishing a voluntary harmonized standard open to both EU and...more
11/27/2023
/ EU ,
European Commission ,
European Securities and Markets Authority (ESMA) ,
Financial Markets ,
Green Bonds ,
Green Finance ,
Investment ,
Investors ,
National Competent Authorities (NCA) ,
Sustainability ,
Sustainable Finance ,
Taxonomy ,
UK
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
Climate Change Regulatory Issues & Updates -
CEQ Finalizes Overhaul of NEPA Regulations and Narrows Consideration of Climate Change Effects -
The amendments have the potential to reduce National Environmental Policy...more
The Situation: Three major pillars of the EU action plan on sustainable finance ("EU Action Plan") at varying stages of development have taken steps forward.
The Result: We now have a regulation on climate-related benchmarks...more
12/27/2019
/ Benchmarks ,
Capital Requirements Regulation (CRR) ,
Environmental Social & Governance (ESG) ,
EU ,
EU Action Plans ,
EU Benchmark Regulation ,
European Commission ,
Final Rules ,
Financial Regulatory Reform ,
Paris Agreement ,
Popular ,
Sustainable Finance ,
Taxonomy
On October 24, 2019, the European Supervisory Authorities ("ESAs"), consisting of the European Securities and Markets Authority, the European Banking Authority, and the European Insurance and Occupational Pensions Authority,...more
12/24/2019
/ Bond Markets ,
Comment Period ,
Consultation Papers ,
EU ,
European Commission ,
European Supervisory Authorities (ESAs) ,
Financial Regulatory Reform ,
Joint Statements ,
Packaged Retail And Insurance-Based Investment Products (PRIIPS) ,
Popular ,
Regulation Technical Standards (RTS) ,
Retail Investors
The Situation: The European Banking Authority ("EBA") issued its Action Plan on Sustainable Finance ("Action Plan") on December 6, 2019, setting forth an outline for its deliverables and activities related to environmental,...more
The Situation: The European Union continues to roll out its Action Plan for Financing Sustainable Growth with its latest proposal concerning climate-related disclosures and the European Commission's launch of a public...more
3/18/2019
/ Climate Change ,
Corporate Counsel ,
Corporate Governance ,
Disclosure Requirements ,
Environmental Policies ,
EU ,
European Commission ,
New Guidance ,
Popular ,
Public Interest Entities ,
Reporting Requirements
Energy-positive buildings are a hot topic in the next wave in Environmental, Social and Governance investing, in anticipation of the EU directive which will require that all new projects built are "nearly zero energy" as from...more
2/28/2019
/ Asset Management ,
BREEAM ,
Climate Action Plan ,
Construction Industry ,
Disclosure Requirements ,
Energy Efficiency ,
EU ,
European Commission ,
Financial Institutions ,
Green Buildings ,
LEED Certified ,
Member State ,
Popular ,
Real Estate Investments ,
Renewable Energy ,
Sustainability
As noted above, the new Prospectus Regulation entered into force on 20 July 2017. Following a request for technical advice from the European Commission, the European Securities and Markets Authority ("ESMA") has published...more