News & Analysis as of

Financial Institutions Climate Change

Mintz

Denmark's Largest Bank Maintains Climate Commitment and Divests from Over 1700 Fossil Fuel Companies

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Last week, Danske Bank--Denmark's largest bank--announced that it would no longer invest in over 1700 fossil fuel companies due to their failure to adequately prepare for climate change. Specifically, their “investment...more

Cozen O'Connor

AGs Clash over EPA Rollbacks, Net-Zero Standards

Cozen O'Connor on

Illinois AG Kwame Raoul co-led a coalition of 17 Democratic AGs, the city of Chicago, New York City, and the California Air Resources Board, in filing comments opposing the EPA’s proposal to repeal the 2024 Mercury and Air...more

J.S. Held

From Ambition to Attrition: The Financial Realities Behind Wind Project Suspensions

J.S. Held on

Introduction: Offshore Wind Projects Pulled Amid Cost Surges - The offshore wind industry has faced a wave of high-profile setbacks that have sent shockwaves through the global renewable energy landscape. The offshore wind...more

K&L Gates LLP

June 2025 ESG Policy Update—Australia

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Australian Update - ASIC Includes Climate-Related Disclosures in its Financial Reporting and Audit Focus Areas for FY2025-26 - The Australian Securities and Investments Commission (ASIC) has published its financial reporting...more

A&O Shearman

FSB update on progress under 2021 roadmap on climate-related risks

A&O Shearman on

The Financial Stability Board (FSB) has published its 2025 progress report on the implementation of its 2021 Climate Roadmap. The report provides a factual overview of progress made across four key areas: disclosures, data,...more

A&O Shearman

FSB chair letter on global outlook and priorities

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The Financial Stability Board (FSB) has published a letter from Andrew Bailey, Governor of the Bank of England, who was appointed chair of the FSB from 1 July. In the letter, the chair confirms his commitment to the FSB's...more

Akin Gump Strauss Hauer & Feld LLP

EU Moves to Simplify Taxonomy Disclosures Without Undermining Green Goals

On July 4, 2025, the European Commission (EC) adopted a “Delegated Act Amending the Taxonomy Disclosures, Climate and Environmental Delegated Acts,” marking a significant shift in how companies will interact with the European...more

A&O Shearman

EC adopts delegated regulation to simplify EU taxonomy reporting and screening criteria

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The European Commission has adopted a Delegated Regulation amending Delegated Regulation (EU) 2021/2178 to simplify reporting requirements for environmentally sustainable activities under the EU Taxonomy Regulation. It also...more

Proskauer - Regulatory & Compliance

UK Green Taxonomy Shelved as Transition Plans Take Centre Stage

On 15 July 2025, HM Treasury published its response confirming it will no longer pursue a UK green taxonomy – a classification system to define which economic activities could be considered environmentally sustainable (the...more

Mayer Brown

Capital Markets Insight: The Brazilian Sustainable Debt Market – A Cross-Border Regulatory Perspective

Mayer Brown on

As emissões de dívidas sustentáveis por empresas brasileiras nos mercados doméstico e internacional têm aumentado substancialmente. No exterior, o volume combinado de títulos verdes, sociais e sustentáveis emitidos por...more

Mintz

California Issues Additional Guidance Concerning Mandatory Climate Disclosures

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Last week, the California Air Resources Board ("CARB")--the agency responsible for implementing California's mandatory climate disclosures--issued additional guidance concerning these regulations. Significantly, although...more

A&O Shearman

EBA publishes spring 2025 risk assessment report

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The European Banking Authority (EBA) has published its spring 2025 risk assessment report alongside a press release, outlining key developments and emerging risks within the European Union/European Economic Area (EU/EEA). The...more

A&O Shearman

BoE and PRA publish annual reports

A&O Shearman on

The Bank of England (BoE) and Prudential Regulation Authority (PRA) have published a series of annual reports, which are set out below. - BoE Annual Report and Accounts. The BoE has set out its strategic investment...more

A&O Shearman

UK Government consults on measures to support UK sustainable finance

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The UK Government's Department for Energy Security & Net Zero has published a series of three consultations on proposals to help UK-regulated financial institutions and large companies to develop climate transition plans. The...more

A&O Shearman

UK Pensions: What's new this week? 30 June, 2025

A&O Shearman on

Welcome to your weekly update from the A&O Shearman Pensions team, covering all the latest legal and regulatory developments in the world of workplace pensions....more

K&L Gates LLP

May 2025 ESG Policy Update—Australia

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AUSTRALIAN UPDATE - ESG-Related Policy in Australia Under the Newly Re-Elected Labor Government - On 3 May 2025, the incumbent Labor government, led by Prime Minister Anthony Albanese, won re-election to a second consecutive...more

Mitchell, Williams, Selig, Gates & Woodyard,...

Guidance for Including Methane Abatement in Oil and Gas Debt Structuring: Methane Finance Working Group Announces Release

The Methane Finance Working Group (“MFWG”) has released a guidance document titled: Guidance for Including Methane Abatement in Oil and Gas Debt Structuring (“Guidance”). MFWG is described as a coalition of financial,...more

Latham & Watkins LLP

UK Government Consults on Sustainability Reporting Standards and Climate Transition Planning

Latham & Watkins LLP on

On 25 June 2025, the UK government launched three consultations as part of London Climate Action Week, which are intended to form key parts of the government’s programme to make the UK the “sustainable finance capital of the...more

Jones Day

From TCFD to CRFR: Decoding the Basel Committee’s Climate Disclosure Drive

Jones Day on

On June 13, 2025, the Basel Committee on Banking Supervision released a voluntary framework for climate-related financial risk disclosures, marking a significant advancement in global banking transparency. This framework...more

Hogan Lovells

Transition Focus: 2024 in Review – transition finance and transition planning developments in the UK and Europe

Hogan Lovells on

We review 2024 developments and thought leadership in transition planning and transition finance. We reflect on the progress made in 2024 following the Transition Plan Taskforce’s publication of its Disclosure Framework in...more

Mintz

Ratings Agency Announces That It Will Analyze Physical Climate Risk When Evaluating Certain Assets

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Recently, Fitch Ratings issued a discussion paper that outlined a “contemplated framework for the analysis of physical climate risk for [Structured Finance] and [Covered Bonds] for the potential negative implications of...more

Mintz

Federal Reserve Disbands Climate-Focused Internal Groups

Mintz on

It has been reported that the Federal Reserve has disbanded certain internal groups that were intended to develop “institutional capacity and knowledge” with respect to climate risk. Specifically, among the groups that have...more

Mintz

Democratic Senators Launch Investigation of Major Financial Institutions Based Upon Their Retreat From Climate Policies

Mintz on

Earlier this year, each of the major US banks announced their withdrawal from the Net Zero Banking Alliance.  This move, which was likely undertaken in response to the policy priorities of the Trump Administration, was...more

A&O Shearman

GHOS Meeting: Basel III implementation and climate-related financial risks

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The Group of Central Bank Governors and Heads of Supervision (GHOS), the oversight body of the Basel Committee on Banking Supervision (BIS), met to discuss the implementation of Basel III and its work on climate-related...more

K&L Gates LLP

April 2025 ESG Policy Update—Australia

K&L Gates LLP on

Australian Update - ASIC Publishes Regulatory Guidance for New Sustainability Reporting Requirements - On 31 March 2025, the Australian Securities and Investments Commission (ASIC) published its Regulatory Guide 280...more

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