On October 25, 2023, the European Council adopted the European Green Bond Standard (EU GBS), a new voluntary regime for green bonds that aims to solidify the EU's position as a leader in sustainable finance, reduce...more
According to a survey conducted by KPMG, 75% of companies are not in a position to obtain third-party assurance on their published ESG data. This is despite the fact that two-thirds of companies must disclose such data, or...more
11/29/2023
/ Business Strategies ,
Capital Investments ,
Climate Action Plan ,
Climate Change ,
Corporate Governance ,
Corporate Social Responsibility ,
Data Management ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
KPMG ,
Publicly-Traded Companies ,
Quality Assurance Programs
On October 9, 2023, the Transition Plan Taskforce (TPT) published the Disclosure Framework providing good practice recommendations for companies to enable them to make “high quality, consistent and comparable transition plan...more
In September 2023, pan-European stock exchange and market infrastructure provider Euronext announced the imminent launch of a range of ESG tools and initiatives focused on sustainable finance, including its intention to...more
10/12/2023
/ Capital Markets ,
Climate Change ,
Corporate Governance ,
Environmental Social & Governance (ESG) ,
EU ,
Euronext ,
Green Finance ,
Investment ,
Investment Management ,
Popular ,
Sustainability ,
Sustainable Finance
In August 2023, the International Auditing and Assurance Standards Board (IAASB) issued its proposed International Standard on Sustainability Assurance (ISSA) 5000, “General Requirements for Sustainability Assurance...more
On July 31, 2023, the European Commission adopted the long-anticipated European Sustainability Reporting Standards (ESRS) for use by all companies subject to the Corporate Sustainability Reporting Directive (CSRD). The...more
9/20/2023
/ Climate Change ,
Corporate Governance ,
Corporate Social Responsibility ,
Environmental Social & Governance (ESG) ,
EU ,
EU Directive ,
European Commission ,
Investment ,
Reporting Requirements ,
Sustainability ,
Sustainable Business Practices
In August 2023, the UK’s Department of Business and Trade (DBT) announced the creation of new sustainability rules that are intended to align with the IFRS Sustainability Disclosure Standards issued by the International...more
9/19/2023
/ Climate Change ,
Corporate Governance ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
Green Finance ,
IFRS ,
Publicly-Traded Companies ,
Regulatory Agenda ,
Sustainability ,
Sustainable Business Practices ,
UK
In April 2022, the Basel Committee on Banking Supervision (the Basel Committee) began a review of “the core principles for effective banking supervision” (Core Principles or CP). Last month, the Basel Committee published...more
On June 2, 2023, the European Financial Reporting Advisory Group (EFRAG) issued a draft letter requesting comments on the International Sustainability Standards Board’s (ISSB) proposal to improve the international...more
UK regulators, specifically the Institute of Chartered Accountants of Scotland (ICAS) and the Financial Reporting Council (FRC), recently released reports regarding the demand for mandatory environmental, social, and...more
In May 2023, the Sustainable Markets Initiative (SMI) published a new guide setting out how to use ESG-related metrics effectively in private markets (the ESG Metrics Guide), and how measuring and monitoring these metrics can...more
Following completion by the International Sustainability Standards Board (ISSB) of IFRS S1 (General Requirements for Disclosure of Sustainability-related Financial Information) and IFRS S2 (Climate-related Disclosures), on...more
In April 2023, the European Central Bank (ECB) published its 2022 assessment of climate-related and environmental risk disclosures of EU-based banks, finding that while most “significant institutions” “now disclose at least...more
On March 29, the European Financial Reporting Advisory Group (EFRAG) announced that it would start to develop additional guidance for sector-agnostic European Sustainability Reporting Standards (ESRS). In making this...more
On March 22, 2023, the European Commission unveiled a proposal, the Green Claims Directive, (Proposal) aimed at combating greenwashing and misleading environmental claims. By virtue of the Proposal, the EC is attempting to...more
3/29/2023
/ Climate Action Plan ,
Climate Change ,
Corporate Governance ,
Corporate Social Responsibility ,
Disclosure Requirements ,
Environmental Claims ,
Environmental Social & Governance (ESG) ,
European Commission ,
Greenwashing ,
Misrepresentation ,
Sustainable Business Practices ,
Unfair or Deceptive Trade Practices