In the first of our series “ESG in Fund Finance” articles, we summarise and examine the recent publication “A Guide to the Application of Sustainability-linked Loan Principles in Fund Finance”....more
In its annual Global Regulatory Update (the 2023 Update Report), Institutional Shareholder Services (ISS) determined that the application of different ESG disclosure and reporting frameworks presents significant challenges...more
The European Financial Reporting Advisory Group (EFRAG) and the Global Reporting Initiative (GRI) released a joint statement announcing the interoperability of their respective reporting standards, enabling companies subject...more
In September 2023, pan-European stock exchange and market infrastructure provider Euronext announced the imminent launch of a range of ESG tools and initiatives focused on sustainable finance, including its intention to...more
10/12/2023
/ Capital Markets ,
Climate Change ,
Corporate Governance ,
Environmental Social & Governance (ESG) ,
EU ,
Euronext ,
Green Finance ,
Investment ,
Investment Management ,
Popular ,
Sustainability ,
Sustainable Finance
In August 2023, the International Auditing and Assurance Standards Board (IAASB) issued its proposed International Standard on Sustainability Assurance (ISSA) 5000, “General Requirements for Sustainability Assurance...more
On July 31, 2023, the European Commission adopted the long-anticipated European Sustainability Reporting Standards (ESRS) for use by all companies subject to the Corporate Sustainability Reporting Directive (CSRD). The...more
9/20/2023
/ Climate Change ,
Corporate Governance ,
Corporate Social Responsibility ,
Environmental Social & Governance (ESG) ,
EU ,
EU Directive ,
European Commission ,
Investment ,
Reporting Requirements ,
Sustainability ,
Sustainable Business Practices
In August 2023, the UK’s Department of Business and Trade (DBT) announced the creation of new sustainability rules that are intended to align with the IFRS Sustainability Disclosure Standards issued by the International...more
9/19/2023
/ Climate Change ,
Corporate Governance ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
Green Finance ,
IFRS ,
Publicly-Traded Companies ,
Regulatory Agenda ,
Sustainability ,
Sustainable Business Practices ,
UK
In July 2023, the European Commission published its annual Strategic Foresight Report (the Report), focusing on how sustainability and people’s wellbeing can help to achieve President von der Leyen’s six priorities for the...more
A new study by the IBM Institute for Business Value found that approximately half of CEOs and their executive teams surveyed have their compensation tied to the organizations’ performance in relation to sustainability goals....more
On July 31, 2023, the European Commission announced its adoption of the European Sustainability Reporting Standards (ESRS) for companies subject to the Corporate Sustainability Reporting Directive (CSRD). The long-awaited...more
On July 11, 2023, the European Securities and Markets Authority (ESMA) issued a Public Statement outlining its expectations for sustainability-related disclosures to be incorporated into prospectuses. In its statement, ESMA...more
On June 2, 2023, the European Financial Reporting Advisory Group (EFRAG) issued a draft letter requesting comments on the International Sustainability Standards Board’s (ISSB) proposal to improve the international...more
Following completion by the International Sustainability Standards Board (ISSB) of IFRS S1 (General Requirements for Disclosure of Sustainability-related Financial Information) and IFRS S2 (Climate-related Disclosures), on...more
On June 6, 2023, the World Economic Forum (WEF) announced the formation of the Forum ISSB Preparers Group in partnership with the International Sustainability Standards Board (ISSB). The ISSB is a standard-setting...more
In April, the International Auditing and Assurance Standards Board (IAASB) announced that the public consultation period for its proposed new sustainability assurance standard will begin in late July or early August 2023...more
On March 29, the European Financial Reporting Advisory Group (EFRAG) announced that it would start to develop additional guidance for sector-agnostic European Sustainability Reporting Standards (ESRS). In making this...more
Cadwalader recently hosted a breakfast discussion with the Loan Market Association (“LMA”) and LSTA with the aim of “Unlocking Sustainability-Linked Loans”. During the session, Cadwalader partner Sukhvir Basran was joined by...more
On March 23, 2023, the International Accounting Standards Board (IASB) commenced a new “maintenance” project to “explore whether and how financial statements can better communicate information about climate-related risks.”...more
On March 8, 2023, 25 organizations wrote to the European Commission concerning its treatment of agriculture in the forthcoming Taxonomy Delegated Act, urging them to follow the advice published by their own expert group. The...more
4/10/2023
/ Agribusiness ,
Climate Action Plan ,
Climate Change ,
EU ,
European Commission ,
Farms ,
Greenwashing ,
NGOs ,
Sustainability ,
Sustainable Business Practices ,
Sustainable Finance ,
Taxonomy