This edition includes a financial reporting and auditing update for audit committees, highlights from the KPMG 2024 US CEO Outlook, view on the post-election geoeconomic forecast, CEO succession planning, and the latest in...more
The European Union (EU) Commission has published a draft set of frequently asked questions (FAQs) on the interpretation of certain provisions of the EU Corporate Sustainability Reporting Directive (CSRD) and the first set of...more
The EU Taxonomy Regulation (the "Regulation") is a highly complex piece of legislation which sets out a classification framework in order to determine whether an economic activity carried out by an undertaking is...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
On 4 December 2023 the European Supervisory Authorities (the “ESAs”) published their final report on updating the regulatory technical standards of the Sustainable Finance Disclosure Regulation (“SFDR Level 2”). The...more
The first edition of this paper was published on 22 August 2023. Since that date, the European Commission has finalized its guidance indicating that Article 8 of the Taxonomy Regulation and the Disclosures Delegated Act apply...more
REGULATORY ISSUES & UPDATES - Mandatory Climate Change Reporting Requirements Under the New European ESRS E1 - The implementation of the European Sustainability Reporting Standards poses risks for reporting companies,...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
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
The Green Technical Advisory Group, which is guiding the UK government’s implementation of a UK Green Taxonomy, has issued detailed advice for the upcoming legislation. In September 2023, the Green Technical Advisory Group...more
Both opportunities and challenges have arisen for the asset management industry as a result of the rapid introduction of UK and EU sustainable finance regulation in recent years. The new requirements have been heightened in...more
The EU’s Taxonomy Regulation entered into force on 12 July 2020. It created a framework relating to the reporting of environmental sustainability of economic activities and investments. It does this by defining various...more
The Sustainable Finance Disclosure Regulation (SFDR) is a European regulation that has applied directly in the EU (and EEA countries) since March 2021. The aim of the SFDR is to provide harmonised disclosure requirements,...more
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
The Commission is also consulting on proposed targeted amendments to the Taxonomy Climate Delegated Act and on the Taxonomy Disclosures Delegated Act. On 5 April 2023 the European Commission opened a consultation on its...more
The European Commission has published a call for feedback on proposals for a new set of EU Taxonomy criteria for the remaining environmental objectives. In addition, the European Commission has published the EU Taxonomy...more
On 10 March 2021,the Sustainable Finance Disclosure Regulation ((EU) 2019/2088) ("SFDR") came into force. This imposes environmental, social and corporate governance (“ESG”) and reporting requirements on a wide range of...more
Commission Delegated Regulation (EU) 2022/1288, setting out the regulatory technical standards (RTS) to be used by financial market participants (FMPs) when disclosing sustainability-related information under the Sustainable...more
Challenges create opportunities and the environmental and social challenges we currently face are no exception. In this paper we consider the opportunities provided by sustainable finance, and more specifically impact...more
On 6 April 2022, the European Commission (“Commission”) adopted the consolidated final regulatory technical standards (“RTS”) to the Sustainable Finance Disclosure Regulation (2019/2088/EU) (“SFDR”) and the EU Taxonomy...more
On March 25, 2022, the three European supervisory authorities − the European Banking Authority, the European Insurance and Occupational Pensions Authority and the European Securities and Markets Authority (collectively the...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
Truly Green? CMA Continues to Evolve Guidance and Metrics for Companies’ Environmental Claims - The Competition and Markets Authority’s (CMA’s) Green Claims Code (the Code) and final guidance (the Guidance) on...more