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Environmental Social & Governance (ESG) European Union

Proskauer Rose LLP

Catching Up On Simplified EU Sustainability Disclosure Rules

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On July 4, the European Commission adopted a new delegated regulation aimed at streamlining the implementation of the EU Taxonomy Regulation. The Taxonomy Regulation is a classification system that defines which economic...more

Proskauer - Regulatory & Compliance

FinReg Monthly Update - August 2025 #2

Welcome to Proskauer’s FinReg Monthly Update, a regular bulletin highlighting the latest developments in UK and EU financial services regulation. Key developments in August 2025: 28 August. FCA Communications: The UK...more

Jones Day

German Government Follows Up On Promise To Change German Supply Chain Act

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On August 29, 2025, the German Government started the legislative process for an amendment to the German Supply Chain Due Diligence Act (Lieferkettensorgfaltspflichtengesetz, LkSG). Pursuant to the draft proposal, the...more

Hogan Lovells

ESG and Defence in the UK and EU – navigating the politics and legal requirements to include defence projects in sustainable...

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Increasing global security concerns (coupled with changes on the global political scene) have led governments to increase their budgets for defence spending. In this briefing we consider how compatible defence sector...more

Ropes & Gray LLP

An Update on the German LkSG for US-based Multinationals – Draft Amendments and a New Round of Compliance Inquiries

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Many US-based multinationals are subject to the German Supply Chain Due Diligence Act, which is commonly known by its German acronym, the LkSG. Over the last couple of weeks, Germany has dashed any hopes for a quiet end to...more

DLA Piper

Horizon - ESG Regulatory News and Trends - August 2025

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Welcome to Horizon, DLA Piper’s monthly bulletin reporting on late-breaking legislative and policy developments in ESG. Our aim is to scan the litigation, enforcement, and regulatory horizon to help inform business decisions....more

A&O Shearman

ESMA and the European Environment Agency Sign MoU to Strengthen Cooperation in Sustainable Finance

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The European Securities and Markets Authority (ESMA) and the European Environment Agency (EEA) have announced the signing of a Memorandum of Understanding (MoU) to enhance cooperation in the area of sustainable finance. The...more

A&O Shearman

ECB Letter to MEPs on Climate Risk Strategy and Potential Risks From Omnibus I Sustainability Package

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The President of the European Central Bank (ECB), Christine Lagarde, has issued a letter responding to Members of the European Parliament regarding the Eurosystem's evolving approach to climate-related financial risks....more

A&O Shearman

Prospectus Regime Changes in the EU and UK—A Debt Capital Markets Update

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The EU and UK prospectus regimes govern disclosure requirements for securities offered to the public and/or admitted to trading on a regulated market. Recent and forthcoming changes to these regimes have implications for...more

McDermott Will & Schulte

A step towards CSRD implementation in Germany: The new draft bill of 10 July 2025

On 10 July 2025, the Federal Ministry of Justice presented a revised draft bill for the implementation of Directive (EU) 2022/2464 (Corporate Sustainability Reporting Directive – “CSRD”) as amended by Directive (EU) 2025/794...more

A&O Shearman

ESMA Publishes Updated Registration Guide

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The European Securities and Markets Authority (ESMA) has published an updated registration guide (dated 14 August), outlining the procedures and expectations for entities seeking registration, authorisation, recognition, or...more

Ropes & Gray LLP

US and EU Agree on Trade Framework Agreement – Implications for ESG/CSR Compliance

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On August 21, the US and EU announced that they have agreed on a Framework on an Agreement on Reciprocal, Fair, and Balanced Trade. The Framework Agreement expands upon earlier official statements on the US-EU trade deal and...more

Jones Day

Will the U.S/EU Trade Deal lead to additional changes in European ESG legislation?

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As a follow-up to the political agreement reached between U.S. President Donald Trump and EU Commission President Ursula von der Leyen regarding cross-Atlantic trade on July 27th, 2025, the United States and the EU issued a...more

Ropes & Gray LLP

Ropes & Gray CSRD Transposition Tracker - Updated 8.20.25

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Reporting obligations under the European Union’s Corporate Sustainability Reporting Directive are created under EU member state national legislation adopted pursuant to the CSRD. We have again updated our tracker to reflect...more

A&O Shearman

EBA issues no-action letter on the application of the ESG Pillar 3 disclosure requirements

A&O Shearman on

The European Banking Authority (EBA) has issued an Opinion in the form of a no-action letter dated 5 August, addressing the application of ESG Pillar 3 disclosure requirements under the EBA disclosure implementing technical...more

A&O Shearman

EC Recommendation on a voluntary sustainability reporting standard for SMEs published in OJ

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Commission Recommendation (EU) 2025/1710 of 30 July 2025 on a voluntary sustainability reporting standard for small and medium-sized undertakings (SMEs) has been published in the Official Journal of the European Union. The...more

Ropes & Gray LLP

ISS Announces Update of E&S Disclosure QualityScore Methodology, Coming in September

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ISS has announced that it will be updating its Environmental & Social Disclosure QualityScore (ESQS) scoring methodology. ESQS covers approximately 8,000 issuers across 25 industry groups in the Americas, Europe and...more

A&O Shearman

ESAs update SFDR Q&As

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The European Supervisory Authorities—the European Banking Authority, European Insurance and Occupational Pensions Authority and the European Securities and Markets Authority—have published an updated version of their...more

Ropes & Gray LLP

Summer of CSRD Redux: An In-depth Look at EFRAG’s Proposed Changes to the ESRS 1 General Requirements Standard

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As many of our readers will remember, during summer 2023, we published a 10+-part series that examined the requirements of ESRS 1, which is the cross-cutting standard that contains the general requirements for reporting under...more

Latham & Watkins LLP

EFRAG Releases Proposed Amended ESRS for Public Consultation

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The proposals outline simplification “levers” to address sources of complexity in sustainability reporting under the EU Corporate Sustainability Reporting Directive....more

A&O Shearman

EC adopts recommendation on a voluntary sustainability reporting standard for SMEs

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The European Commission (EC) has adopted a recommendation on a voluntary sustainability reporting standard for small and medium-sized enterprises (SMEs). The recommendation serves as an interim measure ahead of a formal...more

Ropes & Gray LLP

European Private Equity Market Recap – H1 2025

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Deal activity: Deal count has picked up through the first half of 2025, up 2% compared to the same period last year but still down 7% from H2 2024. With geopolitical tensions, investors and analysts alike are forecasting...more

K&L Gates LLP

Investment Management Update Germany July 2025

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BMF Publishes Draft Bill on DAC 8 Implementation Act - On 26 June 2025, the German Federal Ministry of Finance (Bundesministerium der Finanzen, or BMF) published a new draft bill (following the formation of a new government)...more

Jones Day

German Federal Cartel Office signs-off on cooperation between pipeline operators

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Like the European Commission in a series of other projects, the German Federal Cartel Office (FCO) assessed and signed-off on ESG-related collaboration between competitors....more

Cooley LLP

Drafts of New EU CSRD Reporting Standards Published, Open for Consultation

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On July 31, 2025, the long-awaited drafts of the updated European Sustainability Reporting Standards (ESRS) were published and are now open for public consultation. The ESRS are the mandatory reporting standards for European...more

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