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Corporate Social Responsibility › Financial Institutions

Corporate Social Responsibility refers to a business model that incorporates self-regulation mechanisms and aims to ensure better corporate compliance with ethical standards and international norms. Some... more +
Corporate Social Responsibility refers to a business model that incorporates self-regulation mechanisms and aims to ensure better corporate compliance with ethical standards and international norms. Some businesses approach the concept of corporate social responsibility more generally and define it as efforts to limit businesses' negative environmental and social impacts.  less -
K&L Gates LLP

July 2024 ESG Policy Update—Australia

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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

K&L Gates LLP

Global Survey of ESG Regulations for Asset Managers - ESG and the Sustainable Economy Handbook

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INTRODUCTION - Asset managers (i.e., investment advisers) offering funds in more than one country are accustomed to adapting to different regulatory requirements. However, the challenges presented by the global regulation...more

Cadwalader, Wickersham & Taft LLP

UK Financial Regulator Publishes Guidance on New Anti-Greenwashing Rule

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Greenwashing remains at the top of enforcement agendas in 2024. Marketing products and services as “green” and “sustainable” is a common practice and seen as an important way to attract the attention of environmentally...more

K&L Gates LLP

March 2024 ESG Policy Update—Australia

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Australian Update - Australian Securities and Investments Commission Continues Greenwashing Enforcement Efforts - On 28 February 2024, the Australian Securities and Investments Commission (ASIC) reported that an outsourced...more

A&O Shearman

10 lessons in sustainability regulation

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Creating an effective regulatory framework will be critical to deliver Net Zero. But does that mean more – or less – regulation? From trade agreements to taxonomies, carbon adjustment mechanisms to corporate sustainability...more

K&L Gates LLP

Global Survey of ESG Regulations for Asset Managers

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Asset managers (i.e., investment advisers) offering funds in more than one country are accustomed to adapting to different regulatory requirements. However, the challenges presented by the global regulation of environmental,...more

Cadwalader, Wickersham & Taft LLP

European Banking Authority Reports on the Role of Environmental and Social Risks in the Prudential Framework

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In October 2023, the European Banking Authority (EBA) published a report addressing the need for a comprehensive prudential framework that adequately considers emerging environmental and social risks. The report is a response...more

Cadwalader, Wickersham & Taft LLP

Taskforce on Nature-Related Disclosures Publishes Final Recommendations

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On September 18, 2023, following a two-year development process, the Taskforce on Nature-related Financial Disclosures (TNFD) published its final recommendations (the Recommendations) to help market participants with...more

Cadwalader, Wickersham & Taft LLP

Report Makes Recommendations for Financial Institutions to Advance Climate-Action Initiatives

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In a report published in June 2023, the Columbia Center on Sustainable Investment (CCSI) claims that many financial institutions’ climate strategies are not currently aligned with global climate goals under the Paris...more

Cadwalader, Wickersham & Taft LLP

Global Banking Regulators Plan to Develop Short-Term Climate Scenarios

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The Network of Central Banks and Supervisors for Greening the Financial System (NGFS) is assembling a team of modelling experts to develop short-term climate scenarios that capture the adverse implications in the near term of...more

Cadwalader, Wickersham & Taft LLP

ECB Reports Progress, Identifies Gaps in Banks’ Climate-Related Disclosures

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In April 2023, the European Central Bank (ECB) published its 2022 assessment of climate-related and environmental risk disclosures of EU-based banks, finding that while most “significant institutions” “now disclose at least...more

A&O Shearman

Decarbonisation disputes: the evolving frontier of climate-related risk

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The Net Zero transition will not be smooth. The scale of the investment required and the appetite and ability of countries to implement new policy – both now and in the years to come – will cause unprecedented disruption and...more

Cadwalader, Wickersham & Taft LLP

Beyond the Headlines – Three Global Banks Update Emissions Financing Reduction Targets

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Between February 23 and March 3, three leading global financial institutions announced updated environmentally linked targets aimed at reducing by 2030 their financed emissions in carbon intensive sectors, including oil &...more

Cadwalader, Wickersham & Taft LLP

House Committee Chair Announces Probe into Bank ESG Practices

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Attacks on “ESG investing” in the U.S. continues to intensify as additional Republican lawmakers take aim at financial institutions’ alleged “ESG agenda.” Citing an effort to “promote the depoliticization of our capital...more

Cadwalader, Wickersham & Taft LLP

NYC Comptroller and Pension Funds Advocate for Banks to Establish Interim Absolute GhG Emissions Targets

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On January 2, the New York City (NYC) Comptroller, Brad Lander, the NYC Employees’ Retirement System, the NYC Teachers’ Retirement System, and the NYC Board of Education Retirement System, announced that they had submitted...more

Orrick, Herrington & Sutcliffe LLP

Fed announces climate scenario exercises

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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

J.S. Held

Crosscurrents: J.S. Held’s Environmental, Social & Governance Observations (ESG Issues at the State Level)

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Right now, one big question for companies is, “How do you balance the demands of investors and consumers against the political backdrop both nationally and at the state level?”...more

Bilzin Sumberg

Banking Groups Protest Against Expected ESG Regulations

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We’ve provided insights previously about increased regulatory and litigation activity related to Environmental, Social and Governance (ESG) disclosures by companies to current and prospective investors. For those not yet...more

Jones Day

2021 Transactional Year in Review and 2022 Forecast - The ESG Surge Continues: Focus on Europe

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The focus on ESG across the business spectrum ramped up over the course of 2021, surpassing several milestones along the way and resulting in a surge of regulatory changes and new initiatives by the end of the year....more

Akin Gump Strauss Hauer & Feld LLP

ESG Sukuk: A Next Step in the Evolution of the Global Sukuk Market

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In recent years, the relevance and growth of environmental, social and governance (ESG) principles in investments has captured the attention of the global business community. With Shari'ah-compliant investing also continuing...more

Jones Day

"Caging the Green Swan"—A Global Take on ESG Risk Management

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Intensifying demands from regulators, investors, and the public for attention to environmental, social, and governance ("ESG") considerations presents a key challenge for risk managers, particularly those in the financial...more

Latham & Watkins LLP

EBA Consults on Prudential Disclosures on ESG Risks

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The EBA consultation paper calls for the implementation of a Green Asset Ratio to measure banks’ sustainability performance. Regulators and sustainability-conscious investors increasingly expect banking institutions in...more

Jones Day

French Financial Legal Committee Report Reflects on Climate Change Liability

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On July 19, 2020, the Legal High Committee for Financial Markets of Paris ("HCJP") issued a report on social and environmental responsibility of companies and their managers under French law. This report was initiated based...more

BCLP

EP4 – New Horizon for Environmental and Social Responsibility in Project Financing

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The Equator Principles Association (“EPA”) recently released an updated draft of the Equator Principles (“EP4”) with the proposed revisions focusing on four areas: i) social impact and human rights; ii) climate change; ...more

BCLP

Promoting Corporate Social Responsibility Through Lending

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Financial institutions continue to develop products to encourage Corporate Social Responsibility (CSR) goals. The Loan Market Association has recently published Sustainability Linked Loan Principles to guide the use of loan...more

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