Those who have had to navigate and consider the EU Sustainable Finance Disclosure Regulation (SFDR) have faced its challenges and noted its deficiencies. Specifically, these have included data gaps, the SFDR’s use as a...more
In this week’s edition, the European Commission contacted 20 airlines requiring them to address potentially misleading or inaccurate green claims. The International Sustainability Standards Board (ISSB) launched its digital...more
How to accelerate the transition to a sustainable economy is a hot regulatory topic for most major economies around the world – and is set to continue ascending the agenda in the years to come. As sustainability-related...more
Taxonomies will play a critical role in channelling investment towards sustainable activities. But while alignment between frameworks is critical , a one-size-fits-all approach can never be effective....more
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
On October 25, 2023, the European Council adopted the European Green Bond Standard (EU GBS), a new voluntary regime for green bonds that aims to solidify the EU's position as a leader in sustainable finance, reduce...more
The Commission has launched a far reaching consultation and review of SFDR, long expected by the industry. This bulletin provides an overview, as well as giving thought as to what we might see in terms of SFDR 2.0....more
On June 21, 2023, the General Court of the European Union rejected an action brought by a Member of the European Parliament (MEP) seeking to annul European Commission legislation that identified certain activities related to...more
On June 2, 2023, the European Financial Reporting Advisory Group (EFRAG) issued a draft letter requesting comments on the International Sustainability Standards Board’s (ISSB) proposal to improve the international...more
At Cooley, we’re increasingly speaking to clients in the US, Asia and elsewhere who are surprised by the intensity of environmental, social and governance (ESG) requests and covenants coming from their investors. Often these...more
With so many developments across the globe in the area of sustainability-related disclosures, we have looked back throughout May 2022 and summarised the key points coming out of the EU, UK and US....more
Outside the United States, particularly in the European Union (EU), the assessment and reporting of corporate Environmental, Social, and Governance (ESG) considerations and risks have already become legal requirements. In the...more
The year 2021 was a prolific one for environmental, social and governance (ESG) in the EU. The year 2022 looks just as productive for the EU legislature....more
The EU’s Green Deal, adopted in 2019, calls for achieving net zero greenhouse-gas emissions in the EU by 2050 and other very ambitious goals. Meeting them will require very significant shifts in the economy worldwide over...more
Please join us for a new webinar series dedicated to Environmental, Social & Governance (ESG) issues and how they will impact your business. To kick off the series, we will provide an introduction to European ESG...more
Building on its ambition to develop the UK as an international centre for green finance, as first set out in its 2019 Green Finance Strategy, the Government has published its Roadmap to Sustainable Investing. There are four...more
In this episode, which concludes our three-part EU ESG Considerations for Beginners miniseries, Akin Gump financial regulatory partner Ezra Zahabi looks at EU ESG developments and risks and what business should know about...more
The focus on environmental, social and governance (ESG) issues grew considerably in 2020, in part due to significant regulatory developments. Takeaways - Financial services businesses and other UK companies will still...more
In March 2021, a new European Union regime on sustainability-related disclosures in the financial sector will come into force. The Sustainable Finance Disclosure Regulation 2019/2088 (“SFDR”) contains rules regarding...more
As investors drive demand for investment products focused on environmental, social and governance (ESG) factors, fund managers have increasingly offered ESG-focused or “sustainable investing” funds. However, a recent speech...more
The Situation: The European Union ("EU") is on track to adopt the Taxonomy Regulation by the end of 2020, a key pillar of both the EU Action Plan on Financing Sustainable Growth and the European Green Deal. The Result: The...more