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Climate Change Financial Reporting

BCLP

California Climate Reporting Mandates Still On Track Following Limited Amendments

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As we previously reported, in 2023 California enacted the monumental climate disclosure laws SB 253 (the “Climate Corporate Data Accountability Act”) and SB 261 (the “Climate-Related Financial Risk Act”), with the first...more

Jones Day

Update on Australia's New Climate-Related Financial Disclosure Regime

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Australia's mandatory climate-related financial disclosure regime is inching closer to implementation after the proposed legislative reforms were passed by both Houses of Parliament in September 2024. As discussed in our...more

K&L Gates LLP

ESG—Australia: Mandatory Climate-Related Financial Disclosures: Legislation Passes Parliament

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On 22 August 2024, the Senate passed the Treasury Laws Amendment (Financial Market Infrastructure and Other Measures) Bill 2024 (the Bill), which requires certain organisations to make mandatory climate-related financial...more

Jones Day

Coming Soon: Mandatory Climate Disclosure Laws in Australia

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The Development: On August 22, 2024, the Australian Senate passed the Treasury Laws Amendment (Financial Market Infrastructure and Other Measures) Bill 2024 ("Bill")....more

J.S. Held

Crosscurrents: Harmonizing Global Sustainability Reporting & IFRS and ESRS Interoperability Guide

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Introduction: Advancing Global Sustainability Reporting Standards - To improve the alignment of sustainability reporting standards globally, the International Financial Reporting Standards Foundation (IFRS) and European...more

Fenwick & West LLP

California Climate Laws May Be Delayed

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California Gov. Gavin Newsom is proposing delays to California climate laws SB 253 and SB 261. The first law will require certain companies to report their Scope 1 and 2 greenhouse gas (GHG) emissions beginning in 2026 and...more

Latham & Watkins LLP

ISSB Announces Focus Harmonising the Sustainability Reporting Landscape Developing Key Partnerships

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The ISSB’s new two-year work plan aims to reduce complexity and build on market-leading frameworks and standards. ...more

Jones Day

Australian Financial Services Regulatory Update | January-June 2024

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Recent legal and regulatory developments, including the joint release of APRA and ASIC guidance concerning the new Financial Accountability Regime, APRA's announcement that it will publish superannuation expense data to...more

Hogan Lovells

EU adopts first of its kind Nature Restoration Law

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In a surprising turn of events, the Council of EU Environment Ministers formally adopted on 17 June 2024, the much-contested EU Nature Restoration Law. The new Law sets specific, legally binding, targets and obligations for...more

Jones Day

Australia's Climate Disclosure Regime Moves Closer to Implementation Beginning 1 January 2025

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On 27 March 2024, Australia's climate disclosure regime moved a significant step closer to implementation, with the federal government's introduction of proposed legislation into Parliament. Any organisations with a presence...more

BakerHostetler

SEC Adopts Final Rules for Climate-Related Disclosures

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Nearly two years after the SEC released proposed rules regarding the standardization of climate-related disclosures, and after more than 24,000 public comments, the SEC adopted the Final Rules by a 3-2 vote on March 6. The...more

Goodwin

The Coming Storm: Preparing for The SEC's Final Climate-Related Disclosure Rules

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On March 6, 2024, the U.S. Securities and Exchange Commission (SEC) adopted final rules that will require expansive new climate-related disclosures in Form 10-K and Form 20-F annual reports and most registration statements....more

WilmerHale

SEC Adopts Final Rules on Climate-Related Disclosures

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On March 6, 2024, in a 3-2 vote along party lines, the SEC adopted the long-awaited final rules on climate-related disclosures. The proposed rules faced intense public scrutiny over the last two years, with the SEC receiving...more

Holland & Knight LLP

SEC Adopts Landmark Climate Disclosure Rules

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The U.S. Securities and Exchange Commission (SEC) on March 6, 2024, adopted a new slate of standardized climate-related disclosure rules for public companies and foreign private issuers. Adopted by a 3-2 vote, the final rules...more

Latham & Watkins LLP

Recent Developments for UK PLCs - March Edition

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On 23 February 2024, the Investment Association (IA) issued its annual letter to FTSE 350 remuneration committee chairs providing an update on the IA’s Principles of Remuneration and emerging views on remuneration matters....more

Jones Day

Australian Government Releases Draft Climate Disclosure Laws

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The Situation: The Australian government has released its widely anticipated exposure draft legislation for the introduction of Australia's national mandatory climate-related financial disclosures regime....more

Latham & Watkins LLP

France Transposes Corporate Sustainability Reporting Directive Into Law

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As the first EU country to transpose the CSRD into national law, France will gradually replace the EFPD with sustainability reporting under the new directive. The Corporate Sustainability Reporting Directive (the CSRD)...more

Latham & Watkins LLP

Recent Developments for Directors - December 2023 Edition

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On October 7, 2023, California Governor Gavin Newsom signed into law two statutes that will require certain companies doing business in California to disclose their GHG emissions (SB 253) and climate-related financial risk...more

Dorsey & Whitney LLP

How California’s Sweeping New Climate Laws May Impact Your Business

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California recently enacted two sweeping and unprecedented laws that will require virtually all large companies who do any amount of business in California in any industry or sector to disclose their direct and indirect...more

BakerHostetler

New Regulations and Standards Look to Clean Up the Voluntary Carbon Market and Fight Greenwashing

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As businesses across the globe strive to fulfill carbon-neutral and net-zero promises over the coming decades, the voluntary carbon market has emerged as a necessary resource to help businesses bridge the gap to...more

BCLP

Crisis of Trust: Corporate Governance Update 2023

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Following a series of accounting and audit scandals in recent years and what has been described as a “crisis of trust”, the UK Government, regulatory bodies, and institutional investor groups have set out to reform the UK’s...more

Bass, Berry & Sims PLC

California Legislature Passes Significant Climate Disclosure Bills With Potential Broad Scope

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Over the weekend, California Governor Gavin Newsom signed into law two major climate-related disclosure bills, Senate Bill 253: Climate Corporate Data Accountability Act (SB 253) and Senate Bill 261: Greenhouse Gases:...more

Allen Matkins

California Enacts Law Mandating Climate-Related Financial Risk Reporting

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This February post noted the introduction of SB 261 which aimed at imposing climate-related financial risk reporting.  In the ensuing months, the bill was amended seven times and garnered numerous supporters and opponents. ...more

Holland & Knight LLP

Greenhouse Gas Guessing Game: California's Latest Climate Disclosure Legislation

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The California Legislature has sent two landmark bills to Gov. Gavin Newsom for approval that will have global repercussions. Bundled with Senate Bill (SB) 252 as part of the Climate Accountability Package, SB 253 and SB 261...more

Latham & Watkins LLP

California Passes GHG Emissions Reporting and Climate-Related Financial Risk Legislation

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Governor Newsom has committed to signing into law two bills that would require certain companies that do business in California to disclose their GHG emissions and climate-related financial risks. In January 2023,...more

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