In this week’s edition, we look at a Brazilian enforcement action relating to illegal deforestation in the Amazon. We also discuss ESMA’s opinion on the functioning of the Sustainable Finance Framework, as well as proposed...more
In early September 2023, the Green Technical Advisory Group (GTAG) issued two reports relating to the treatment of green financial products and taxonomy reporting. GTAG was established in 2021 and is an expert group that...more
Until now, however, no comprehensive estimate existed of the of that opportunity, (or, to put it another way, the size of the financing gap between committed spending and the investment needed to deliver Net Zero by 2050...more
On 13 June the European Commission (the Commission) published a new package of measures to bolster the EU sustainable finance framework. Its aim is to: “ensure that the EU sustainable finance framework continues to...more
On March 27, the Association of Southeast Asian Nations (ASEAN) Taxonomy Board (ATB), representing ASEAN finance sectoral bodies, released Version 2 of the ASEAN Taxonomy for Sustainable Finance. This follows Version 1, which...more
Last month, Canada’s Department of Finance published the Sustainable Finance Action Council (SFAC) recommendations for the development of a green taxonomy for sustainable investment, as the country moves toward its goal of...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
Last month, Singapore’s Green Finance Industry Taskforce (GFIT) launched the final consultation period to finalize its Green and Transition Taxonomy (the “Taxonomy”). This is Singapore’s third public consultation on the...more
On February 13, 2023, as part of the European Commission’s Strategy for financing transition to a sustainable economy, the European Banking Authority (EBA) launched an industry survey seeking input on green loans and...more
Following strong demand from investors for a timeline, the International Sustainability Standards Board (ISSB) has confirmed that draft IFRS S1 (General Requirements for Disclosure of Sustainability-Related Financial...more
On February 13, the Autorité des marchés financiers (AMF), the French financial regulator, proposed the introduction of legislation to establish “minimum environmental requirements” that must be met in order for financial...more
The rapid growth of ESG and sustainable finance in the GCC region offers substantial opportunities, but also entails significant associated risks. Introduction - The Gulf Cooperation Council1 region (GCC Region) is...more
On January 24, the European Central Bank (ECB) announced the publication of “new experimental and analytical indicators” that are intended to help analyze climate-related risks in the finance sector and monitor green...more
A global financial institution recently announced an updated energy policy, supplementing its previously issued 2030 targets. HSBC’s 2030 targets aimed, among other things, to reduce financed emissions in two carbon-intensive...more
Das Thema nachhaltige Finanzierung (Sustainable Finance) nimmt weiter an Fahrt auf und steht Anfang 2021 erneut im Fokus: diesseits des Atlantiks ist zum 10. März 2021 die EU-Offenlegungsverordnung in Kraft getreten, nach der...more
President-elect Joe Biden announced an ambitious clean energy plan designed to counteract the impacts of climate change and reverse policies from the last four years of the Trump Administration. With action promised on Day...more
The EU sustainable finance market has developed organically, guided by voluntary but universally accepted principles. According to recent research, climate change could cost up to 19 per cent. of Global GDP by the end of...more