News & Analysis as of

Environmental Social & Governance (ESG) Greenwashing European Securities and Markets Authority (ESMA)

Proskauer - Regulatory & Compliance

Sustainability Under the Microscope: ESMA’s Reality Check

On the 30 June 2025, the European Securities and Markets Authority (“ESMA”) published its final report on the 2023–2024 Common Supervisory Action (“CSA”) on the integration of sustainability risks and disclosures. This...more

Walkers

ESMA's findings on sustainability risk integration and disclosures: What you need to know

Walkers on

ESMA has published its final report on the CSA on the integration of sustainability risks and disclosures in the investment fund sector and a thematic note on sustainability-related claims focusing on ESG credentials. ...more

Ropes & Gray LLP

New ESMA Guidance on Sustainability Claims and ESG Credentials: A Closer Look

Ropes & Gray LLP on

The European Securities and Markets Authority (ESMA) has taken another step in its ongoing mission to combat greenwashing within the financial services sector. With the release of a new thematic note, ESMA aims to ensure that...more

Proskauer - Regulatory & Compliance

ESMA Publishes Four Principles for Clear, Fair and Not Misleading Sustainability-Related Claims

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

Ropes & Gray LLP

ESMA’s 2023-2024 Common Supervisory Action on Sustainability Risks and Disclosures: Key Findings

Ropes & Gray LLP on

On 30 June 2025, the European Securities and Markets Authority (ESMA) published its Final Report on the 2023-2024 Common Supervisory Action (CSA) concerning the integration of sustainability risks and disclosures within the...more

DLA Piper

Horizon - ESG Regulatory News and Trends - June 2025

DLA Piper on

EPA announces details of its reorganization. On May 2, the EPA announced a major reorganization that will eliminate several key offices, including the Office of Atmospheric Protection (OAP), Office of Air Quality Planning and...more

Proskauer - The Capital Commitment

ESG in 2025: Finding the Sweet Spot in a Complex World

With ESG regulation now well embedded across all major jurisdictions, the trend we see for 2025 is about increasingly sophisticated triangulation by private fund managers between the regimes that apply by default (such as...more

Proskauer - Regulatory & Compliance

EU Regulators Take Different Enforcement Paths for ESMA ESG Fund Name Guidelines

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

A&O Shearman

ESMA TRV report on fund names: ESG-related changes and their impact on investment flows

A&O Shearman on

The European Securities and Markets Authority (ESMA) has published a trends, risks and vulnerabilities (TRV) risk analysis report on ESG-related changes to fund names and their impact on investment flows. The report examines...more

Paul Hastings LLP

AFME EU and UK Approaches to Greenwashing Enforcement in the Financial Market: A Comparison

Paul Hastings LLP on

The briefing contains a mapping exercise and analysis of the approach taken by the European Supervisory Authorities and the U.K.’s Financial Conduct Authority to address risks or concerns relating to such greenwashing. The...more

Goodwin

ESG Fund Names: New Regulatory Guidance and Fast-Track Procedure to Ensure Compliance by 21 May 2025

Goodwin on

On 21 October 2024, the Commission de Surveillance du Secteur Financier (CSSF) implemented the European Securities and Markets Authority (ESMA) Guidelines regarding environmental, social, and governance (ESG) fund naming as...more

DLA Piper

Horizon - ESG Regulatory News and Trends - November 2024

DLA Piper on

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

K&L Gates LLP

July 2024 ESG Policy Update—Australia

K&L Gates LLP on

Australian Update - Proposed Code of Practice to Reduce Modern Slavery Through Lending, Investment and Asset Management - The New South Wales (NSW) Anti-Slavery Commissioner (Commissioner) recently released its discussion...more

Hogan Lovells

ESG Market Alert - May 2024

Hogan Lovells on

In this month’s round-up of the latest developments in ESG for UK clients, we cover: New ESMA guidelines to use ESG or sustainability-related fund names FCA publishes new guidance on the anti-greenwashing rule, to come into...more

Proskauer - Regulatory & Compliance

The Anti-Greenwashing Rule Comes Into Force: A Legal Lens

On 31 May 2024, a new anti-greenwashing rule is being introduced by the Financial Conduct Authority (the “FCA”) as part of its Sustainability Disclosure Requirements (“SDR”). We cover here the introduction of the FCA’s...more

Mayer Brown

ESMA publishes guidelines on establishing harmonised criteria for use of ESG and sustainability-related terms in fund names

Mayer Brown on

On 14 May 2024, the European Securities and Markets Authority ("ESMA") published its final report on "Guidelines on funds’ names using ESG or sustainability-related terms" (the "Guidelines"). The Guidelines aim to provide...more

Cadwalader, Wickersham & Taft LLP

Cadwalader Climate - April 2024 #3

In this week’s edition, we discuss the EU’s continued push to develop its ESG regulatory framework by proposing changes to the regulation of credit ratings agencies to accommodate ESG factors. Regulating ESG ratings providers...more

Cadwalader, Wickersham & Taft LLP

Cadwalader Climate - April 2024 #2

In this week’s edition, we discuss the ever-increasing focus on greenwashing by way of enforcement action taken by regulatory authorities and incoming legislation aimed at enhancing consumer protection. The EU confirmed the...more

Cadwalader, Wickersham & Taft LLP

Cadwalader Climate - February 2024

ESG Ratings - The European Council and Parliament provisionally agreed upon a proposed regulation on ESG rating activities to boost transparency and increase investor confidence in ESG ratings. ESG ratings providers would...more

Goodwin

Horizon Scan for Private Investment Funds: Key Recent and Expected funds, Regulatory and Tax Developments to look out for -...

Goodwin on

Welcome to the first edition of our Horizon Scan for 2024: key recent and expected funds, regulatory and tax developments to look out for. As before, we focus on the most important developments and changes that we expect to...more

Proskauer - Regulatory & Compliance

Regulation Round Up - November 2023

Welcome to the UK Regulation Round Up, a regular bulletin highlighting the latest developments in UK and EU financial services regulation. ...more

Cadwalader, Wickersham & Taft LLP

European Commission Consultation on SFDR

On 14 September 2023, the European Commission published a targeted consultation and a public consultation on the implementation of Regulation (“EU”) 2019/2088 on sustainability-related disclosures in the financial services...more

Walkers

Names and Claims – ESMA probes use of generic ESG terms in EU funds

Walkers on

Yesterday, ESMA published a risk analysis report outlining the results of its disclosure study on ESG names and claims in the EU funds industry. ESMA utilised natural language processing ("NLP") techniques to analyse the...more

Proskauer Rose LLP

UK and EU Sustainable Finance Regulation: Taking Stock with Change on the Horizon

Proskauer Rose LLP on

Both opportunities and challenges have arisen for the asset management industry as a result of the rapid introduction of UK and EU sustainable finance regulation in recent years. The new requirements have been heightened in...more

A&O Shearman

Greenwashing in sustainable finance – key takeaways from EU developments

A&O Shearman on

There are useful takeaways for EU and non-EU firms arising from the European Supervisory Authorities’ (ESA) latest thinking on greenwashing. In June 2023, the ESAs issued progress reports examining greenwashing risks and...more

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