On 15 July 2025, HM Treasury published its response confirming it will no longer pursue a UK green taxonomy – a classification system to define which economic activities could be considered environmentally sustainable (the...more
7/18/2025
/ Climate Change ,
Disclosure Requirements ,
Environmental Policies ,
Environmental Social & Governance (ESG) ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Greenhouse Gas Emissions ,
Regulatory Requirements ,
Sustainability ,
Task Force on Climate-related Financial Disclosures (TCFD) ,
UK
On 4 July 2025, the European Commission adopted a regulation (the “Delegated Regulation”) aimed at streamlining the European Union’s Taxonomy Regulation (the “Taxonomy Regulation”). These reforms are intended to ease...more
On 1 July 2025, the European Securities and Markets Authority (“ESMA”) published a thematic note on making clear, fair and not misleading sustainability-related claims, to address greenwashing risks (the “Thematic Note”)....more
A new extended timetable is now in play for the European Financial Reporting Advisory Group (“EFRAG”) following a letter sent by the EU Commissioner Albuquerque on 1 July 2025. EFRAG is tasked with the responsibility to...more
On 23 June 2025, the Council of the European Union (“Council”) endorsed its negotiating mandate on the European Commission’s Omnibus I proposal, which aims to streamline the Corporate Sustainability Reporting Directive ((EU)...more
6/26/2025
/ Corporate Counsel ,
Corporate Governance ,
Corporate Social Responsibility ,
Corporate Sustainability Reporting Directive (CSRD) ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
EU ,
New Legislation ,
Proposed Legislation ,
Regulatory Reform ,
Reporting Requirements ,
Sustainability
Sustainability reporting is evolving fast. As global momentum builds around the endorsement and adoption of the International Sustainability Standards Board (ISSB) standards in key jurisdictions, businesses must act now to...more
European regulators have taken different routes as to how they plan to enforce the European Securities and Markets Authority’s (“ESMA”) guidelines (the “Guidelines”) with respect to the use of sustainability‑related terms in...more
4/29/2025
/ Disclosure Requirements ,
Enforcement Actions ,
Environmental Social & Governance (ESG) ,
EU ,
European Securities and Markets Authority (ESMA) ,
Fund Managers ,
Greenwashing ,
Investment Funds ,
Penalties ,
Regulatory Requirements ,
Sustainability
On 25 April 2025, the sustainability reporting board (“SRB”) of the European Financial Reporting Advisory Group (“EFRAG”), agreed the internal timeline for delivering advice to the European Commission on the simplification of...more
On 15 April 2025, the sustainability reporting board (“SRB”) of the European Financial Reporting Advisory Group (“EFRAG”) failed to agree to an internal timeline for delivering advice to the European Commission on the...more
In February 2023, the United Kingdom Financial Conduct Authority (“FCA”) published a discussion paper (DP23/1) to encourage an industry-wide dialogue on firms’ sustainability-related governance, incentives, and competence...more
4/16/2025
/ Corporate Governance ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
Greenwashing ,
Investment ,
Regulatory Oversight ,
Regulatory Requirements ,
Sustainability ,
UK
On 14 April 2025, the Council of the European Union (the “Council”) has given the greenlight for the “Stop-the-clock” proposal, which will postpone the application of sustainability reporting and diligence requirements. This...more
The European Financial Reporting Advisory Group (EFRAG) has launched a public call for input (Call for Input) on 9 April 2025, seeking feedback from stakeholders and, in particular, from the first wave of preparers who...more
On 3 April 2025, the European Parliament voted to postpone the implementation dates for corporate sustainability due diligence and reporting requirements, as the first step in the European Commission’s “Omnibus”...more
4/3/2025
/ Corporate Governance ,
Corporate Sustainability Reporting Directive (CSRD) ,
Environmental Social & Governance (ESG) ,
EU ,
European Commission ,
European Parliament ,
Filing Deadlines ,
New Legislation ,
Private Funds ,
Regulatory Reform ,
Reporting Requirements ,
Sustainability
Vote to delay -
On 1 April 2025, the European Parliament approved the “urgent procedure” with regards to the “Omnibus” package of proposals to streamline corporate sustainability requirements....more
On 26 March 2025, the European Council approved its position, known as a “negotiating mandate”, on a key element of the European Commission’s proposal to streamline corporate sustainability requirements which are captured in...more
On 11 March 2025, the Financial Conduct Authority (the “FCA”) published a statement clarifying that their rules, including with regards to sustainability, do not prevent investment in or financing of defence companies. The...more
3/12/2025
/ Corporate Governance ,
Defense Sector ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
Financial Conduct Authority (FCA) ,
Investment ,
Investors ,
Military Conflict ,
Regulatory Requirements ,
Russia ,
Sustainability ,
Sustainable Business Practices ,
UK ,
Ukraine
On 26 February 2025, the European Commission (the “Commission”) adopted a new package of proposals to simplify the regulations on sustainability. Their aim is to combine the competitiveness and climate goals of the European...more
2/27/2025
/ Climate Change ,
Corporate Counsel ,
Corporate Social Responsibility ,
Corporate Sustainability Reporting Directive (CSRD) ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
EU ,
European Commission ,
Regulatory Reform ,
Regulatory Requirements ,
Reporting Requirements ,
Sustainability
On 14 February 2025, the Financial Conduct Authority (the “FCA”) updated its webpage on consultation paper (CP24/8) on extending the sustainability disclosure requirements (“SDR”) and investment labelling regime to portfolio...more
HM Treasury published the UK Green Taxonomy Consultation (the ‘‘Consultation’’) on 14 November 2024, and there is one week to go until the consultation window closes on 6 February 2025. The Consultation seeks views on the...more
In this alert, we reflect on recent climate reporting updates and analyze expectations for 2025 that are relevant for international businesses....more
1/16/2025
/ California ,
CARB ,
Climate Change ,
Corporate Governance ,
Disclosure Requirements ,
Enforcement ,
Environmental Social & Governance (ESG) ,
EU ,
Greenhouse Gas Emissions ,
New Legislation ,
Popular ,
Regulatory Agenda ,
Securities and Exchange Commission (SEC) ,
Sustainability ,
UK
Following the turn of the new year, our UK Regulatory specialists have examined the key regulatory developments in 2025 impacting a range of UK and European firms within the financial services sector. The key dates have been...more
1/16/2025
/ Alternative Investment Fund Managers Directive (AIFMD) ,
Anti-Money Laundering ,
Asset Management ,
Compliance ,
Cryptoassets ,
Digital Operational Resilience Act (DORA) ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
EU ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
MiFID II ,
Money Market Funds ,
Regulatory Agenda ,
Securities Regulation ,
SFDR ,
Sustainability ,
UK
On 8 January 2025, the EU Platform on Sustainable Finance (PSF) published a draft report and launched a call for feedback on proposed updates to the EU taxonomy. This includes revisions to the Climate Delegated Act and new...more
1/10/2025
/ Climate Change ,
Environmental Policies ,
Environmental Social & Governance (ESG) ,
EU ,
European Commission ,
Greenhouse Gas Emissions ,
Investment ,
Mining ,
Renewable Energy ,
Reporting Requirements ,
Sustainability ,
Sustainable Finance ,
Taxonomy
On 17 December 2024, the EU Platform on Sustainable Finance (the “Platform”), an advisory body to the European Commission (the “Commission”), has published a briefing note to the Commission, outlining their proposals for a...more
On 13 November 2024, the European Commission published 90 frequently asked questions (‘‘FAQs’’) with the aim of enhancing stakeholders’ understanding and compliance with the sustainability reporting requirements under the...more
On 14 November 2024, Rachel Reeves set out in her first Mansion House Speech that “sustainable finance” was to be one of the UK’s five priorities in the government’s Financial Services Growth and Competitiveness Strategy (the...more