News & Analysis as of

Climate Change Sustainable Finance Financial Services Industry

A&O Shearman

Mansion House: HM Treasury Consults on UK Green Taxonomy

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HM Treasury has published a consultation on developing a U.K. Green Taxonomy to classify sustainable economic activities, with the aim of increasing sustainable investment and reducing greenwashing risk. Responses to the...more

A&O Shearman

Mansion House 2024

A&O Shearman on

Rachel Reeves, the U.K. Chancellor has set out a package of reforms in her Mansion House speech. The reforms aim to drive growth and competitiveness in financial services. Ms. Reeves stated that the regulatory changes...more

A&O Shearman

Network for Greening the Financial System Long-Term Climate Macro-Financial Scenarios for Climate Risks Assessments

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The Network for Greening the Financial System has published the fifth phase of its long-term climate macro-financial scenarios for climate risks assessments. The main development is an updated assessment of physical risk. It...more

A&O Shearman

UK Transition Finance Market Review Publishes Recommendations

A&O Shearman on

The U.K. Transition Finance Market Review published its report for scaling transition finance. The report sets out the TFMR's recommendations on how to scale a high-integrity transition finance market that can support both...more

A&O Shearman

UK Climate Financial Risk Forum Publishes Guides on Climate Risk

A&O Shearman on

The U.K. Climate Financial Risk Forum (CFRF) has published three guides to help the financial sector develop its approach to climate-related financial risks and opportunities...more

K&L Gates LLP

September 2024 ESG Policy Update – Australia

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Australian Update - Climate-Related Disclosures Legislation Passed - The Treasury Laws Amendment (Financial Market Infrastructure and Other Measures) Bill 2024 (Cth) passed Parliament on 9 September 2024 and received Royal...more

K&L Gates LLP

July 2024 ESG Policy Update—Australia

K&L Gates LLP on

Australian Update - Proposed Code of Practice to Reduce Modern Slavery Through Lending, Investment and Asset Management - The New South Wales (NSW) Anti-Slavery Commissioner (Commissioner) recently released its discussion...more

A&O Shearman

European Commission Provides Further Clarifications on EU Corporate Sustainability Reporting Rules

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The European Commission has published a draft Commission Notice on the interpretation of certain legal provisions in the Accounting Directive, Audit Directive, Audit Regulation, Transparency Directive, Regulation (EU)...more

A&O Shearman

Financial Conduct Authority Consults on Rules for Admission of Securities to UK Trading Platforms

A&O Shearman on

The Financial Conduct Authority has opened a consultation on proposed rules for companies seeking to admit securities to a U.K. regulated market or "primary" multilateral trading facility under the new Public Offers and...more

K&L Gates LLP

June 2024 ESG Policy Update—Australia

K&L Gates LLP on

Australian Update - Australia and EU Enter Into Critical and Strategic Minerals Partnership - On 28 May 2024, Australia and the European Union (EU) signed a Memorandum of Understanding (MOU) for a bilateral partnership to...more

K&L Gates LLP

ESG—Australia – Climate-Related Financial Disclosures: Updated Bill

K&L Gates LLP on

On 27 March 2024, the Australian Government published the first reading draft of the Treasury Laws Amendment (Financial Market Infrastructure and Other Measures) Bill 2024 (New Bill), which superseded the previous exposure...more

K&L Gates LLP

May 2024 ESG Policy Update—Australia

K&L Gates LLP on

AUSTRALIAN UPDATE - Updated Bill to Introduce Climate-Related Financial Reporting Regime - Background - The Australian Government released the first reading draft of the Treasury Laws Amendment (Financial Market...more

A&O Shearman

Australia, are you ready for the mandatory climate related financial disclosure regime?

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The Australian government is in the process of finalising legislation relating to its proposed mandatory climate-related financial disclosure regime, following the completion of a one-month consultation process on the draft...more

Katten Muchin Rosenman LLP

ESG Guidepost | Issue 12

Katten ESG Guidepost is a monthly publication highlighting the latest news, legal and regulatory developments involving environmental, social and governance matters....more

BCLP

All Washed Up - What Are the Risks for Firms That Won’t Show Greenwashing the Red Card?

BCLP on

In recent years, there has been a noticeable increase in green products and the promotion of sustainable objectives across the financial services industry. For example, we have seen much discussion of green loans, green...more

K&L Gates LLP

December 2023 ESG Policy Update - Australia

K&L Gates LLP on

Australian Update - ASIC to Focus on Net Zero Statements and Targets - On 21-22 November 2023, the Australian Securities & Investments Commission (ASIC) hosted the ASIC Annual Forum, outlining: The progress and outcomes ASIC...more

A&O Shearman

Sustainable lending – a growing role for Islamic finance and Middle Eastern financiers

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The aims of ESG investing and Islamic Finance structures are already closely – though not perfectly – aligned. Middle Eastern governments are looking to diversify away from oil and gas. This, Samer Eido and Afsha Karim...more

Goodwin

The Seeds for SFDR II? Two EU Commission Consultations

Goodwin on

The European Commission (the Commission) has published two consultations to both evaluate and assess enhancements to the EU’s Sustainable Finance Disclosure Regulation (SFDR). Open until 15 December 2023, the Commission is...more

Cadwalader, Wickersham & Taft LLP

European Commission Action on Climate Taxonomy and ESG Rating Provider Regulation

On June 13, 2023, the European Commission published “a new package of measures to build on and strengthen the foundations of the EU sustainable finance framework.” The aim is to ensure that the EU sustainable finance...more

Goodwin

The EU Sustainable Finance Package: key points for private fund managers

Goodwin on

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

Hogan Lovells

UK: Updated Green Finance Strategy 2023

Hogan Lovells on

The government's updated net-zero Green Finance Strategy was published on 30 March 2023. We set out below the key elements of the updated Strategy which focuses on the need for green investment and on opportunities for the...more

Cadwalader, Wickersham & Taft LLP

EBA Seeks Input from Credit Institutions on Green Loans and Mortgages

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

Cadwalader, Wickersham & Taft LLP

ISSB Announces First Two Sustainability Disclosure Standards to Come Into Force from January 2024

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

Cadwalader, Wickersham & Taft LLP

Global Bank Announces Updated Energy Policy

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

Latham & Watkins LLP

GFANZ Issues Guidance on Net Zero Plans for Financial Institutions

Latham & Watkins LLP on

The Final Report recommends five themes that financial institutions should incorporate into their net zero transition strategies. On 1 November 2022, the Glasgow Financial Alliance for Net Zero (GFANZ) issued its Final...more

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