October was a busy month. COP 16 on Biodiversity was held at the end of the month, the UK Autumn Budget was heard on 30 October 2024, and the UK focused Transition Finance Market Review was published. All this has been...more
With the deadline to transpose the requirements of the Corporate Sustainability Reporting Directive (EU) 2022/2464 (CSRD) into national law expiring on 6 July 2024, we have reviewed and summarised the transposition status for...more
This month, amidst the Labour party conference in the UK, we have seen a number of policy initiatives communicated via speeches and followed up with official government announcements, for example announcing the upcoming...more
On 9 September 2024, the FCA confirmed that it is offering “limited temporary flexibility” until 2 April 2025 for firms to comply with the ‘naming and marketing’ rules under the UK Sustainability Disclosure Requirements....more
On 7 August 2024, the European Commission published draft FAQs on the Corporate Sustainability Reporting Directive (CSRD) clarifying the interpretation of certain provisions within the CSRD, the European Sustainability...more
As the EU Corporate Sustainability Due Diligence Directive (CS3D), recently approved by the Council of the European Union, has just been published in the Official Journal of the European Union, it has been suggested by some...more
The UK General Election on 4 July 2024 resulted in a change of government in the UK. This has meant that the usual summer slowdown has been replaced with a flurry of activity as new ministers pick up portfolios and start to...more
June 2024 was another busy month for ESG regulation both in the EU and internationally. In the EU, the ESAs have published their final reports on greenwashing in the financial services sector and an opinion on the assessment...more
May 2024 was another busy month for ESG regulation both in the UK, EU and internationally. In the UK, the anti-greenwashing rule came into effect on 31 May 2024, an update on the Sustainability Disclosure Requirements (SDR)...more
April 2024 has been another busy month for ESG regulation both in the UK, EU and internationally. Key developments include the long-awaited Financial Conduct Authority (FCA) finalised guidance on the UK anti-greenwashing...more
On 23 April 2024, the Financial Conduct Authority (FCA) published the much-anticipated anti-greenwashing guidance which will apply to all FCA regulated firms from 31 May 2024. The anti-greenwashing rule is designed to...more
Our latest ESG regulatory round-up highlights the key UK, EU and international financial services regulatory developments during Q1 2024. Key ESG developments this quarter include the publication of the FCA’s Business Plan...more
The growth in size and influence of ESG ratings and data markets coupled with concerns about the transparency and credibility of ESG ratings and data products have led to IOSCO developing recommendations to regulators and ESG...more
As we enter 2024, we have looked back to Q4 2023 to reflect on the range of momentous ESG regulatory developments and to look at how they will impact ESG regulatory developments throughout this year. Key developments at the...more
On 28 November 2023, the Financial Conduct Authority (FCA) confirmed the long-awaited final rules and guidance for UK asset managers aimed at improving the trust and transparency around sustainable investment products. In a...more
In this alert, we provide a round-up of the latest developments in ESG for UK corporates. In this month’s ESG Market Alert, we cover: Market Practice Update: Harnessing ESG opportunities in private equity EU Parliament...more
As we reach the midway point of 2023, the Hogan Lovells Sustainable Finance and Investment practice thought it would be useful to provide a review of recent key ESG developments from March-June 2023 to assist with navigating...more
7/10/2023
/ Banking Sector ,
Banks ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
EU ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
HM Treasury ,
International Capital Markets Association (ICMA) ,
Popular ,
Sustainability ,
Sustainability-Linked Loans (SLLs) ,
UK
On 13 June 2023, the European Commission published a new sustainable finance package. In particular the package of measures included (i) recommendations in respect of facilitating transition finance, (ii) a proposal in...more
Environmental, Social and Governance (ESG) promises to drive business decision making in 2023 and impact how companies plan, operate and report.
The complex and rapidly-evolving world of ESG is set to remain a priority for...more
4/28/2023
/ Biodiversity ,
Business Plans ,
Business Strategies ,
Climate Change ,
Corporate Governance ,
Corporate Social Responsibility ,
Diversity and Inclusion Standards (D&I) ,
Environmental Social & Governance (ESG) ,
Green Finance ,
Policies and Procedures ,
Sustainability ,
Sustainable Finance
The European Commission has published a call for feedback on proposals for a new set of EU Taxonomy criteria for the remaining environmental objectives. In addition, the European Commission has published the EU Taxonomy...more
In this alert, we provide a round-up of the latest developments in ESG for UK corporates...more
The FCA has confirmed that it is delaying its final rules and policy statement in relation to the Sustainability Disclosure Requirements and investment labels proposals from the end of June 2023 to Q3 2023....more
The Treasury Sub-Committee on Financial Services Regulations has opened an Inquiry into greenwashing and sustainability disclosure requirements following the FCA’s SDR and labelling proposals in FCA CP22/20 which concluded...more
On 10 February 2023, the UK’s Financial Conduct Authority (FCA) published a discussion paper on finance for driving positive sustainable change. The discussion paper considers firms’ sustainability-related governance...more
As we round up 2022, December has remained lively in terms of ESG and sustainability-related disclosures developments in the UK, EU and internationally. This round-up provides a summary of the key updates over the past month...more