News & Analysis as of

Greenhouse Gas Emissions Climate Change Financial Institutions

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

A&O Shearman

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

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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

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

Mintz

California Issues Additional Guidance Concerning Mandatory Climate Disclosures

Mintz on

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

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

Jones Day

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

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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

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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

Jones Day

Financial Institutions May See Scope 3 Reporting Relief Under ISSB Proposals

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The International Sustainability Standards Board (ISSB) proposed targeted amendments to IFRS S2 Climate-related Disclosures standard, followed by similar changes from the Australian Accounting Standards Board (AASB) to its...more

Ropes & Gray LLP

International Sustainability Standards Board Launches Public Consultation on Proposed Amendments to IFRS S2 GHG Emissions...

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The International Sustainability Standards Board has released an Exposure Draft proposing targeted amendments to greenhouse gas emissions disclosure requirements under the IFRS S2 Climate-related Disclosures standard. The...more

Jones Day

Major UK Bank Penalized by the ASA for Greenwashing

Jones Day on

On December 18, 2024, the Advertising Standards Authority ("ASA"), the UK's regulator of advertising, issued a ruling against Lloyds Bank plc ("Lloyds") following a complaint by Adfree Cities, a network challenging corporate...more

A&O Shearman

Financial Stability Board analytical framework and toolkit to assess climate-related vulnerabilities

A&O Shearman on

The Financial Stability Board published a report containing a framework and analytical toolkit to assess climate-related vulnerabilities. The report introduces an analytical framework that the FSB will use to trace how...more

Latham & Watkins LLP

PCAF Launches Consultation on New Methodologies for the Global GHG Accounting and Reporting Standard

Latham & Watkins LLP on

The consultation covers new methodologies for the financial sector’s GHG emissions reporting, including regarding avoided emissions, or “scope 4” emissions. On 3 December 2024, the Partnership for Carbon Accounting...more

McDermott Will & Schulte

#BakuBreakthrough? COP29 Sets a $300 Billion Goal as Part of a $1.3 Trillion Climate Finance Ambition

McDermott Will & Schulte on

As we have previously reported over the last two weeks, the 29th Annual United Nations (UN) Climate Change Conference (COP29) focused heavily on climate finance and implementing key strategies for global emissions reduction,...more

Ballard Spahr LLP

SEC Adopts Rules to Enhance and Standardize Climate-Related Disclosure

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The Securities and Exchange Commission (SEC) adopted rules expanding climate-related disclosure requirements in annual reports and registration statements for U.S. public companies and foreign private issuers. The final...more

Jones Day

The Climate Report | First Quarter 2024

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The U.S. Securities and Exchange Commission has adopted much anticipated climate-related disclosure rules....more

Troutman Pepper Locke

With Delayed Federal Action on Mandatory Climate Disclosures, States and Regulators Fill the Void

Troutman Pepper Locke on

In the absence of comprehensive federal action, states and regulators are enacting legislation and issuing guidance requiring climate-related disclosures, stepping in to fill the void left by the U.S. Securities Exchange...more

Jones Day

U.S. Treasury Publishes Principles for Net-Zero Financing and Investment by Financial Institutions

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The September 2023 publication by the U.S. Treasury Department of its Principles for Net-Zero Financing and Investment ("Principles") marks the first time a major U.S. government agency has provided guidance to the financial...more

Snell & Wilmer

Climate-Related Financial Risk Management Final Interagency Guidance Rules Issued – Now What’s Next?

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On October 24, 2023, the Federal Reserve (Fed), Federal Deposit Insurance Corporation (FDIC), and Office of the Comptroller of the Currency (OCC) issued the joint agency climate-related financial risk management guidance for...more

Cadwalader, Wickersham & Taft LLP

U.S. Treasury Unveils Principles to Guide Financial Institutions’ Net-Zero Commitments

On September 19, 2023, the U.S. Treasury Department introduced nine guiding principles for private sector financial institutions that have made net-zero commitments. The principles are intended to highlight and encourage the...more

Cadwalader, Wickersham & Taft LLP

NYC Comptroller and Pension Funds Advocate for Banks to Establish Interim Absolute GhG Emissions Targets

On January 2, the New York City (NYC) Comptroller, Brad Lander, the NYC Employees’ Retirement System, the NYC Teachers’ Retirement System, and the NYC Board of Education Retirement System, announced that they had submitted...more

Orrick, Herrington & Sutcliffe LLP

Fed announces climate scenario exercises

On January 17, the Federal Reserve Board provided additional details regarding its upcoming pilot climate scenario analysis exercise and the information on risk management practices that will be gathered from the program. ...more

Seward & Kissel LLP

The Poseidon Principles for Marine Insurance

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According to the International Maritime Organization (IMO), the shipping industry currently accounts for 2.2% of global emission of greenhouse gases (GHG), with the potential, if left unregulated, to increase 50-250% by 2050....more

Goodwin

FinCEN Issues Advisory For Financial Institutions to Look Out for Kleptocracy and Foreign Corrupt Activity

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In This Issue. The Financial Crimes Enforcement Network (FinCEN) is urging financial institutions to focus their efforts on detecting the proceeds of foreign public corruption; the Financial Industry Regulatory Authority...more

Moore & Van Allen PLLC

SEC Announces Proposed Rule for Climate Risk and Greenhouse Gas Disclosures

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On March 21, 2022, the U.S. Securities and Exchange Commission (“SEC”) announced a proposed rule (the “Proposed Rule”) that will require registrants to make certain climate disclosures in their registration statements and...more

Latham & Watkins LLP

Science Based Targets Initiative Sets 2022 Action Plan

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Market participants can expect the initiative’s proposals to offer guidance on setting targets for emissions reduction and decarbonisation. On 12 January 2021, the Science Based Targets initiative (SBTi) published its...more

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