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It is fair to say that there are growing concerns whether the new EU corporate sustainability reporting requirements are going to have their intended effect of creating greater transparency and accountability of their reporting, or even that they will remain in their current form.
Independent, and aiming to provide accurate, brief and clear news, we monitor, curate, report and analyse regulatory and policy developments that affect key markets globally.
The California Air Resources Board (CARB) has launched a public consultation to shape the implementation of the state’s landmark climate disclosure laws, which require companies doing business in California to disclose climate-related information, mark a pivotal step in mandating corporate accountability for greenhouse gas (GHG) emissions and financial climate risks. The consultation could be of interest to businesses that do business either in or with the state.
The European Commission looks set to review the climate and sustainability reporting regulations following push-back from industry. In a press conference following an informal meeting of Heads of State of Government of 8 November 2024 in Budapest, European Commission President Ursula von der Leyen said there would be an omnibus bill that would aim to “reduce bureaucracy, reduce reporting burdens”.
Climate transition risks alone are unlikely to jeopardise the stability of the EU financial system, EU financial system regulators believe. However, the regulators have warned that when combined with adverse macroeconomic shocks, these risks could amplify losses for financial institutions, potentially leading to systemic disruptions.
From December 2024, issuers of green, sustainable or bonds will be able to rely on a set of clear EU-level green criteria that define their bonds and have them independently reviewed.
ESG ratings providers in Hong Kong will be encouraged to release self-attestation documents, outlining their compliance with a new ESG Ratings and Data Products Providers code of conduct.
A proposed Regulation aiming to regulate and monitor the importation of forestry products and commodities originating from deforested land or which contribute to forest degradation has been delayed an extra year after political pressure, calling into question whether it will pass in its current form.
The available allowances for companies’ greenhouse emissions in the EU are set to be reduced and the overall targets for reducing emissions in the EU will be tightened, under changes to the EU’s Emissions Trading Scheme (ETS) that come into effect on 1 January 2025.
A survey of 100 large global corporations has found that most companies are still in the early stages of addressing their nature-related impacts and dependencies.
From 31 December 2024, EU importers must finalise their registration as authorised Carbon Border Adjustment Mechanism (CBAM) declarants or risk losing the ability to import goods into the EU beyond that deadline.
A total of 19 of the Financial Stability Board’s (FSB) 24 member countries have regulations, guidelines or strategic roadmaps in place corporate climate-related disclosures, a new survey shows.
California has enacted amendments to its climate disclosure laws, introducing adjustments to regulatory timelines while upholding the original compliance deadlines for large companies operating within the state.
A range of public and private sector stakeholders in Europe have called for a greater emphasis on the use of climate adaptation projects, a greater role for public-private partnerships (PPP) in insurance in funding climate-related insurance needs, other public-private risk sharing initiatives such as direct subsidies or fiscal incentives and a range of other actions to improve climate resilience in Europe.