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Environmental Social & Governance (ESG) Financial Reporting

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

J.S. Held on

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

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

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

Goodwin on

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

WilmerHale on

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

Paul Hastings LLP

AIFMD Refresher: Deal Notifications & Anti-Asset Stripping Rules

Paul Hastings LLP on

The AIFMD contains numerous ongoing obligations that apply to sponsors and funds long after fundraising has completed. As part of our AIFMD refresher series, this article summarises one of the key AIFMD ongoing requirements...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

KPMG Board Leadership Center (BLC)

Directors Quarterly: January 2024

Taking stock, looking ahead - The start of a new year is an important opportunity for boards to take a step back and reassess their agendas to help ensure that they are appropriately focused on the most critical issues for...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 UK PLCs - December Edition

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Major Update on FRC Policy and Reset on Corporate Governance Reforms Plus CMIT Open Letter, With More to Come - On 7 November 2023, the Financial Reporting Council (FRC) announced a significant and wide-ranging policy...more

Cadwalader, Wickersham & Taft LLP

EFRAG and GRI Announce Interoperability in Impact Reporting Schemes

The European Financial Reporting Advisory Group (EFRAG) and the Global Reporting Initiative (GRI) released a joint statement announcing the interoperability of their respective reporting standards, enabling companies subject...more

BCLP

Crisis of Trust: Corporate Governance Update 2023

BCLP on

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

Allen Matkins

California Enacts Law Mandating Climate-Related Financial Risk Reporting

Allen Matkins on

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

Goodwin

New ISSB Sustainability Standards: A Long-awaited Milestone for Harmonising ESG-Related Disclosure

Goodwin on

On 26 June 2023, the International Sustainability Standards Board (“ISSB”) issued its first two sustainability standards, IFRS S1 and IFRS S2. These standards, which incorporate the recommendations of the Task Force on...more

Wilson Sonsini Goodrich & Rosati

International Sustainability Standards Board Publishes Sustainability and Climate Disclosure Standards

On June 26, 2023, the International Sustainability Standards Board (ISSB) published its first two sustainability disclosure standards, International Financial Reporting Standards (IFRS S1) – General Requirement for Disclosure...more

Cadwalader, Wickersham & Taft LLP

Accounting Firms Challenged on Reporting of Climate Risks in Company Financial Statements

Environmental law NGO ClientEarth has written to the Global Public Policy Committee (GPPC), which brings together representatives of the six large international accounting organizations, to request greater transparency and...more

Cadwalader, Wickersham & Taft LLP

ESMA Outlines Expected Sustainability Disclosures in Prospectuses

On July 11, 2023, the European Securities and Markets Authority (ESMA) issued a Public Statement outlining its expectations for sustainability-related disclosures to be incorporated into prospectuses. In its statement, ESMA...more

Bennett Jones LLP

International Sustainability Standards Board Releases Sustainability Disclosure Standards

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On June 26, 2023, the International Sustainability Standards Board (ISSB) released the final versions of its first two global sustainability disclosure standards for financial reporting (the ISSB Standards). The ISSB aims to...more

Skadden, Arps, Slate, Meagher & Flom LLP

ESG in 2023: A Mid-Year Review

As predicted in our February 1, 2023, client alert, “ESG in 2022 and Predictions for 2023,” a global economic slowdown and ongoing backlash in the U.S. have slowed the momentum of some aspects of the environmental, social and...more

Cadwalader, Wickersham & Taft LLP

Australian Regulator Emphasizes Focus on Greenwashing Claims

In a speech delivered at the Australian Finance Review’s ESG summit on June 5, 2023, the Australian Securities and Investments Commission’s (ASIC) Chair, Joe Longo, warned companies that greenwashing is an ongoing concern for...more

Cadwalader, Wickersham & Taft LLP

EFRAG Heeds Call to Prioritize General ESRS Guidance Over New Sector-Specific Standards

On March 29, the European Financial Reporting Advisory Group (EFRAG) announced that it would start to develop additional guidance for sector-agnostic European Sustainability Reporting Standards (ESRS). In making this...more

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