On February 28, 2023 the Council of the European Union and the European Parliament reached a deal to draw up European Green Bonds Standards (“EUGBS”). The aim of the EUGBS is to establish the leading global framework for...more
On February 24, the European Commission granted approval under EU State Aid Rules for a German scheme supporting rail transport operators using electric traction. The €1.1 billion scheme will provide economic support for...more
Border to Coast Pension Partnership (the “Partnership”), a pension pool consisting of 11 UK local government pension schemes, announced that “[o]il majors and banks must make greater progress on climate pledges or risk losing...more
At the recent G20 Finance Ministers and Central Bank Governors Meeting in Bengaluru, India, attendees called for the creation of a common global framework to facilitate financing the United Nations’ Sustainable Development...more
On February 23, three climate advocacy groups—Friends of the Earth France, Notre Affaire à Tous and Oxfam France—filed a lawsuit alleging that a global financial institution violated Article L. 225-102-4.-I of the French...more
On February 13, 2023, as part of the European Commission’s Strategy for financing transition to a sustainable economy, the European Banking Authority (EBA) launched an industry survey seeking input on green loans and...more
3/6/2023
/ Climate Action Plan ,
Climate Change ,
Environmental Social & Governance (ESG) ,
EU ,
European Banking Authority (EBA) ,
Financial Institutions ,
Financial Services Industry ,
Green Loans ,
Mortgages ,
Small and Medium-Sized Enterprises (SMEs) ,
Sustainable Finance
Following strong demand from investors for a timeline, the International Sustainability Standards Board (ISSB) has confirmed that draft IFRS S1 (General Requirements for Disclosure of Sustainability-Related Financial...more
Environmental regulators and ministers from across the EU member states provisionally approved the introduction of the world’s first major carbon border tax, the Carbon Border Adjustment Mechanism (CBAM), which will require...more
1/3/2023
/ Carbon Emissions ,
Carbon Taxes ,
Climate Change ,
Emissions Trading System ,
Environmental Policies ,
EU ,
Exporters ,
Financial Services Industry ,
Foreign Corporations ,
Pollution Control ,
Regulatory Agenda ,
Regulatory Reform ,
Tax Rates