The SEC has adopted the much-anticipated climate-related disclosure rules, which are more than 900 pages long, two years after they were first proposed. Although the rules will almost certainly face challenges in court that...more
Introduction - With the adoption by 196 parties of the Paris Agreement in December 2015, legally binding international climate change arrived. The Paris Agreement requires increasingly aggressive five-year cycles climate...more
On December 21, 2023, the New York Department of Financial Services (“DFS”) published guidance (the Guidance) to assist regulated institutions in assessing and managing their climate-related financial and operational risks....more
Introduction: Navigating the Complexities of Carbon Management - Companies in all industries are faced with increasing pressure to define their corporate approach to climate change and greenhouse gas (GHG) reduction,...more
Following two rounds of consultation, the Australian Government has released an exposure draft of the Treasury Laws Amendment Bill 2024: Climate related financial disclosure (Draft Bill) which would introduce mandatory,...more
Executive Summary- Climate disclosure regulations are among the most significant and complex challenges faced by companies and boards, with a variety of requirements emanating from numerous governmental authorities and...more
On December 21, 2023, the New York Department of Financial Services (“NYDFS”) finalized guidance on how the banks and mortgage institutions it regulates (“New York Institutions”) should manage climate-related financial and...more
Climate Risk Assessments for banking purposes are in the early stages of development. No laws or regulations have been issued regarding the topic. Nonetheless, it is obvious that lawmakers and regulators are keenly intent on...more
On October 17, 2023, Themis, a technology platform that helps its clients manage their financial crime risk exposure, and World Wildlife Fund (WWF) UK, announced that they are working together to produce a Deforestation and...more
REGULATORY ISSUES & UPDATES - Mandatory Climate Change Reporting Requirements Under the New European ESRS E1 - The implementation of the European Sustainability Reporting Standards poses risks for reporting companies,...more
On September 18, 2023, the Taskforce on Nature-related Financial Disclosures ("TNFD") released its final recommendations for disclosures on nature-related dependencies, impacts, risks, and opportunities. The TNFD aims to...more
On September 20, 2023, the European Investment Bank (EIB) announced that it was developing a methodology to assess its clients’ exposure to nature-related impacts and risks. The EIB reinforced its commitment to address...more
In June 2023, the Australian government published an updated Statement of Expectations for the Australian Prudential Regulation Authority (APRA), requiring it to, among other things, “promote prudent practices and...more
On March 28, 2023, the Taskforce on Nature-related Financial Disclosures (TNFD) announced the release of the fourth and final iteration of its beta framework for nature-related risk management and disclosures, including a...more
The Bank of England released a report titled Climate-Related Risks and the Regulatory Capital Framework (Report) on March 13, 2023. The Report expands on the Bank’s 2021 Climate Change Adaptation Report (CCAR), in which it...more
Last week, the Federal Reserve Board (FRB) announced additional details on its pilot climate scenario analysis (CSA) involving six of the largest U.S. banks. The additional details include a Participant Instructions Document...more
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
There is increasing awareness about the interconnected nature of climate-related issues such as biodiversity loss, health, human rights, security and inequality. Indeed, climate change disputes are on the rise, and the...more
Energy Blockchain’s Most Obvious Use Case is Not What You Think - "Instead, a select group of blockchain companies is finding success with a focus on certificates of origin, helping demonstrate the provenance of renewable...more