Supplementary ISSB Update April 2023

May 3By Staff Writer#ESG News #ESG Regulations

Companies reporting under the new climate disclosure standards being developed by the IASB’s International Sustainable Development Standards Board (ISSB) will be given an additional year to report on selected sustainability risks. This is done so that they can focus on climate-related reporting first, the ISSB explained.

Learn more: IFRS icon

Latest News

Stellantis to Continue Buying Tesla CO₂ Credits Despite EU Compliance Extension

By Sustainability ExpertApril 1

Amazon Launches Carbon Credit Service to Support Credible Climate Action

By Editor ESG LoreMarch 28

GreenLight Biosciences Secures Series C Funding to Scale RNA-Based Agricultural Solutions

By Industry NewsMarch 27

UK Launches First Global Standard for High-Integrity Nature Investments

By Staff WriterMarch 26

Stellantis to Continue Buying Tesla CO₂ Credits Despite EU Compliance Extension

Stellantis has confirmed it will continue purchasing carbon dioxide credits from Tesla in 2025, underscoring its commitment to meeting European Union emissions targets despite recent regulatory leniency. The European Commission recently approved a new compliance...

Amazon Launches Carbon Credit Service to Support Credible Climate Action

Amazon has introduced a carbon credit service through its Sustainability Exchange platform, offering companies access to high-integrity, science-based carbon credits. The new initiative is designed to help suppliers, business customers, and Climate Pledge signatories complement...

GreenLight Biosciences Secures Series C Funding to Scale RNA-Based Agricultural Solutions

GreenLight Biosciences has closed its Series C funding round, securing new capital to accelerate the commercialization of its sustainable RNA-based agricultural technologies. The round includes a $25 million investment from climate-focused investment firm Just Climate....

UK Launches First Global Standard for High-Integrity Nature Investments

The British Standards Institution (BSI) has introduced the Overarching Principles Standard (BSI Flex 701), a groundbreaking set of government-backed guidelines designed to boost transparency and integrity in nature-related investments. Marking a global first, the new...

CDP and EFRAG Unveil Mapping to Streamline Climate Disclosure Reporting

CDP, the global platform for environmental disclosure, and the European Financial Reporting Advisory Group (EFRAG) have released a new mapping that illustrates strong alignment between CDP’s climate-related question bank and the European Sustainability Reporting Standard...

IFAC Mandates Sustainability Training for Professional Accountants

The International Federation of Accountants (IFAC) has introduced significant revisions to the International Education Standards (IESs), making sustainability competencies a mandatory component of professional accountants’ training. The updates establish a global benchmark for sustainability reporting...

LEGO Advances Sustainability Goals with 50% Sustainably Sourced Materials

LEGO Group has made significant strides toward its sustainability objectives, with half of the materials used for its bricks in 2024 sourced from sustainable options. This marks a substantial increase from just 18% in 2023,...

Tata Power Eyes $5.63 Billion Investment in Andhra Pradesh Renewable Projects

Tata Power Renewable Energy Ltd (TPREL) is exploring a major renewable energy expansion in Andhra Pradesh, with plans to develop 7 gigawatts (GW) of solar, wind, and hybrid projects. The initiative, representing a potential investment...

Microsoft Expands Carbon Removal Efforts with Landmark India Afforestation Deal

Microsoft has secured 1.5 million tonnes of verified carbon removal credits from the Panna afforestation project in India, marking its largest carbon removal initiative in the Asia-Pacific region. Spanning 20,000 hectares in Madhya Pradesh, the...

Automakers Win EU Concession on Emissions Targets Amid EV Market Struggles

The European Commission has announced an extension for automakers to comply with CO2 emissions targets, shifting the compliance window from one year to three. The move, aimed at providing manufacturers with more flexibility, allows companies...

Microsoft Faces Sustainability Challenges Amid AI Growth, Reaffirms Commitment to Climate Goals

The rapid expansion of artificial intelligence (AI) has presented significant challenges for Microsoft in achieving its ambitious sustainability targets, including its goal to become carbon negative by 2030. Chief Sustainability Officer Melanie Nakagawa acknowledged that...

SEC Acting Chair Seeks to Pause Legal Proceedings Against Climate Disclosure Rule

Acting U.S. Securities and Exchange Commission (SEC) Chairman Mark Uyeda announced today that he would request a postponement of legal proceedings against the SEC’s new climate disclosure rule, citing concerns that the rule is “deeply...

A2A Issues First Green Bond Under EU’s New Gold Standard

Italian utility company A2A has raised €500 million (USD$521 million) in a green bond issuance, marking the first corporate bond issued under the EU’s new European Green Bond (EuGB) label. This regulation, adopted by the...

Switzerland Sets New Emission Reduction Targets Under Paris Agreement

Switzerland has committed to cutting greenhouse gas emissions by at least 65% by 2035 compared to 1990 levels, with an average reduction of 59% between 2031 and 2035. These targets align with the Climate and...

SBTi Reaches Milestone of 10,000 Businesses Committed to Science-Based Climate Targets

The Science Based Targets initiative (SBTi) has announced a significant milestone, with over 10,000 businesses now setting science-based emissions reduction targets or committing to do so. This represents a 29% increase from the 7,425 companies...

Amazon Named Largest Corporate Renewable Energy Purchaser for Fifth Consecutive Year

Amazon has been recognized as the world’s largest corporate purchaser of renewable energy in 2024, according to Bloomberg NEF data. This marks the fifth consecutive year that the company has held this position. Amazon reported...

McDonald’s Adjusts DEI Policies Following Supreme Court Ruling

McDonald’s has announced significant changes to its diversity, equity, and inclusion (DEI) policies, including the retirement of its representation goal-setting and the discontinuation of its supply chain Mutual Commitment to DEI (MCDEI) pledge. The MCDEI...

China Introduces Basic Standards for Corporate Sustainability Disclosures

China has unveiled the Basic Standards for corporate sustainability disclosures, setting a framework to standardize ESG reporting nationwide. Announced by the Ministry of Finance (MOF) in collaboration with nine other departments on December 17, 2024,...

Japan Sets Ambitious Climate Target of 60% Emissions Reduction by 2035

Japan has announced a significant update to its climate goals, targeting a 60% reduction in greenhouse gas (GHG) emissions from 2013 levels by 2035. The new target, which surpasses the previous 46% reduction goal for...

Canada Introduces New Sustainability Reporting Standards with Key Transition Relief

Canada has unveiled a major advancement in sustainability reporting with the inclusion of CSDS 1 and CSDS 2 in the CPA Canada Handbook – Sustainability. Developed by the Canadian Sustainability Standards Board (CSSB), these standards...

Investors Ramp Up ESG Data Use but Raise Concerns Over Greenwashing and Reporting Gaps

A growing number of investors are increasing their reliance on ESG data, but concerns over the quality, comparability, and accuracy of this information persist, according to EY’s 2024 Institutional Investor Survey. The report reveals a...

COP29 Finalizes Article 6, Unlocking Trusted International Carbon Markets

The COP29 Presidency has announced a major breakthrough in climate diplomacy: the full operationalization of Article 6 of the Paris Agreement, which unlocks international carbon markets after years of stalled negotiations. The dual-track strategy employed...

European Regulators Call for Stronger Climate Risk Integration Following Stress Test Findings

The European Supervisory Authorities (ESAs) have released the results of the “Fit-For-55” climate stress test, assessing the resilience of banks, investment funds, and the pension and insurance sectors to the transition to a low-carbon economy....

UK Plans Regulation for ESG Ratings Providers to Boost Transparency and Trust

The UK government has announced draft legislation aimed at regulating Environmental, Social, and Governance (ESG) ratings providers, with plans to introduce the finalized law to Parliament by early 2025. The new law will bring ESG...

Dutch Appeals Court Overturns Landmark Climate Ruling Against Shell

A Dutch appeals court has ruled in favor of Shell, reversing the landmark 2021 decision that held the oil giant accountable for greenhouse gas (GHG) emissions linked to the use of its products by customers....

Australian Regulator Promises Flexible Enforcement of Sustainability Disclosures

The Australian Securities & Investments Commission (ASIC) has released a draft guide, titled “Regulatory Guide 000 Sustainability Reporting,” outlining the country’s new sustainability reporting regime and how the regulator plans to enforce these requirements. In...

Canada Aims for 35% Emissions Cut in Oil and Gas, No Production Limits

The Canadian government has introduced new regulations aiming to reduce emissions in the oil and gas sector by 35% by 2030, compared to 2019 levels. Environment Minister Steven Guilbeault emphasized that the goal is to...

TNFD Adoption Surges by 57% as 500+ Organizations Embrace Nature Risk Reporting

The Taskforce on Nature-related Financial Disclosures (TNFD) announced at COP16 in Cali, Colombia, that over 500 organizations have committed to aligning their risk management and corporate reporting with TNFD recommendations. This marks a 57% increase...

IBM Envizi ESG Suite Gets FedRAMP Authorization to Streamline Federal ESG Data Management

IBM announced that its Envizi ESG Suite has received Federal Risk and Authorization Management Program (FedRAMP) authorization. This milestone means that federal agencies can now use IBM’s trusted platform to manage their ESG data securely,...

China’s Leadership Reverses Course with Aggressive Economic Stimulus

China’s leadership has stunned markets with a dramatic shift in its approach to economic stimulus. President Xi Jinping, who for years resisted massive fiscal injections into the economy, is now spearheading one of the most...

BlackRock Survey: Insurers Increasingly Focus on Clean Energy and Low-Carbon Investments

Global insurers are increasingly focused on low-carbon transition and clean energy infrastructure investments, according to BlackRock’s 13th annual Global Insurance Report. A staggering 99% of respondents have set low-carbon transition objectives within their investment portfolios,...

Morningstar Sustainalytics Updates ESG Tools to Support EU Sustainability Compliance

Morningstar Sustainalytics has announced significant updates to its suite of tools designed to assist investors and corporations in navigating the evolving ESG regulatory landscape under the EU Sustainable Finance Action Plan. These enhancements include new...

Climate and Security at the Core of Von der Leyen’s New European Commission Leadership

European Commission President Ursula von der Leyen has announced her leadership team for the next five years, with a clear focus on climate change, the geopolitical challenges posed by the war in Ukraine, and rising...

AWS Partners with Accenture to Streamline ESG Reporting for Sustainable Growth

As the demand for accurate Environmental, Social, and Governance (ESG) reporting grows, AWS and Accenture have introduced a streamlined approach to help businesses manage their sustainability data more effectively. The AWS Sustainability Data Fabric (SDF)...

Missouri’s Anti-ESG Investment Rule Struck Down by Federal Court

A U.S. federal court has struck down Missouri’s recent regulation aimed at restricting the incorporation of Environmental, Social, and Governance (ESG) factors into investment advice. The court ruled that the regulation, introduced by Missouri Secretary...

Survey Finds 68% of Large U.S. Companies Now Have Dedicated Budgets for Sustainability Reporting

A new survey by ESG and EHS solutions provider EcoOnline shows that 68% of large U.S. companies now have dedicated budgets for sustainability reporting, underscoring the increasing prioritization of environmental and compliance initiatives. The survey,...

Silva Capital Launches Carbon Origination Fund with A$80 Million from Rio Tinto, BHP, and Qantas

Silva Capital, a carbon assets and investment manager, has announced the launch of the Silva Carbon Origination Fund, designed to provide access to large-scale, high-integrity carbon credits from nature-based projects in Australia. The fund targets...

China to Establish 70 National Carbon Standards by End of 2024

China has announced an ambitious plan to standardize carbon emission calculations across key sectors as part of its efforts to meet carbon reduction targets. By the end of 2024, the country aims to publish 70...

ERM Report Reveals 68% of US Corporate Leaders Engage in Greenwashing

A recent report by Environmental Resources Management (ERM) reveals a significant issue in the ESG rating market: greenwashing. According to the study, 68% of corporate leaders in the United States admit to engaging in greenwashing...

Record Investment in Offshore Wind as UK Boosts Renewable Energy Budget

The UK government has announced an unprecedented budget of over £1.5 billion for its next renewable energy auction, aiming to strengthen energy security and reduce costs for households and businesses. This represents a more than...

New Vodafone Solution Aids Companies in Meeting CSRD and EU Taxonomy Requirements

Vodafone Business has introduced the Vodafone Business ESG Navigator, a new software solution designed to assist companies in meeting their sustainability reporting requirements, particularly in line with the EU’s Corporate Sustainability Reporting Directive (CSRD). This...

Lufthansa Introduces Environmental Surcharge to Address Climate Regulation Costs

Lufthansa Group announced today the implementation of a new Environmental Cost Surcharge to offset the expenses of complying with increasing environmental regulations. Starting January 1, 2025, this surcharge will apply to all flights sold and...

Australia Introduces Mandatory Climate Disclosures and Sustainable Investment Labels

Australia’s government is spearheading major sustainable finance reforms to transition to a net-zero economy. These initiatives include mandatory climate-related financial disclosures, the development of a sustainable finance taxonomy, and investment product labels. The Albanese Government...

ESAs Propose Enhanced Disclosure Rules to Combat Greenwashing in Financial Products

The European Supervisory Authorities (ESAs) have proposed new categories for financial products under the Sustainable Finance Disclosure Regulation (SFDR) to address greenwashing and improve clarity for investors. The new categories, “Sustainable” and “Transition,” are designed...

EU Council Passes Nature Restoration Law After Austria’s Support

In a dramatic last-minute decision, Austria has swung the vote in favor of the Nature Restoration Law, enabling its approval by the European Council. This crucial legislation aims to protect and restore natural ecosystems, mandating...

UBS and Rockefeller AM Launch Ocean Engagement Fund for Blue Economy

UBS Global Wealth Management (GWM) and Rockefeller Asset Management have introduced the UBS Rockefeller Ocean Engagement Fund, a new initiative focused on the blue economy. This fund aims to engage with companies addressing ocean health...

CarbonMeta Files Patent for CO2 Tracking in Concrete Using Blockchain Technology

CarbonMeta Technologies, operating in the US and Saudi Arabia, has filed a patent application for a process that documents and tracks sequestered CO2 in concrete using blockchain technology. This patent aims to reduce the construction...

Biden Increases U.S. Tariffs on Chinese Imports, Including EV Batteries

In a move to address trade imbalances and protect domestic industries, President Joe Biden announced a steep increase in U.S. tariffs on a variety of Chinese imports, including electric vehicle (EV) batteries, computer chips, and...

EU Parliament Wraps Up Term with Sweeping Green Legislation Ahead of Elections

In its final plenary session before the June elections, the EU Parliament has approved several pivotal pieces of legislation, marking a significant push in its environmental and social governance efforts. Key measures include the Net...

FCA Issues Anti-Greenwashing Guidance, Proposes Expansion of Sustainability Framework

The Financial Conduct Authority (FCA) is stepping up its fight against greenwashing with new guidance and an expanded sustainability framework. The anti-greenwashing rule, set to take effect on May 31, aims to protect consumers by...

LyondellBasell Advances on Sustainability Ambitions with New Report

LyondellBasell has unveiled its latest annual sustainability report, “Everyday Sustainability,” chronicling the company’s strides over the past year toward solidifying its position as a frontrunner in the sustainability arena. This report delves into LyondellBasell’s concerted...

Japan Takes a Leap in Sustainability Reporting with IFRS-aligned Standards

The Sustainability Standards Board of Japan (SSBJ) has announced the release of exposure drafts for new sustainability disclosure standards, a move that marks Japan’s commitment to harmonizing its reporting practices with the International Financial Reporting...

Global Investors Embrace ESG Policies, Finds Deloitte/Tufts Survey

A recent survey conducted by Deloitte and The Fletcher School at Tufts University reveals a significant shift in the investment world, with 80% of global investors now implementing sustainable investment policies. This comprehensive study, spanning...

$425 Million Boost for Clean Energy in Former Coal Communities by Biden Administration

The U.S. Department of Energy (DOE) has earmarked $425 million to bolster clean energy manufacturing and industrial decarbonization projects, particularly benefiting former coal communities. This initiative, deriving funds from the Bipartisan Infrastructure Law (BIL) passed...

Bloomberg Survey Highlights ESG Data Management as Key Hurdle for European Firms Amid Regulatory Shifts

In an survey conducted by Bloomberg, around 200 financial market participants across Europe have voiced their concerns over managing the burgeoning volume of ESG data. This survey, spanning cities like London, Stockholm, Geneva, and Milan...

Bold Move Towards Carbon Neutrality: EU Sets Preliminary Deal on Carbon Removal

In a significant stride towards environmental sustainability, the European Parliament, alongside member states, has preliminarily agreed upon establishing a new regulation for a carbon removal certification framework, as announced by EU authorities. This groundbreaking framework...

Business Council of Australia Seeks One-Year Delay in Mandatory Climate Reporting

The Business Council of Australia (BCA) has called for a one-year postponement in the enforcement of proposed mandatory climate-related reporting laws for Australian companies. In a recent statement, the BCA argued for additional preparation time...

EU Unveils New Regulation to Enhance ESG Ratings Integrity

The Council and the European Parliament have struck a provisional deal on a groundbreaking regulation targeting Environmental, Social, and Governance (ESG) rating activities. This regulation is set to elevate investor trust in sustainable products by...

GRI Introduces New Sustainability Reporting Standard for Mining Sector

A Leap Towards Transparency in Mining The Global Reporting Initiative (GRI), a frontrunner in promoting standardized ESG reporting, unveiled a groundbreaking reporting standard for the mining sector today. This initiative is designed to enhance transparency...

EU Climate Targets Jeopardized by Inadequate Hydrogen, Biofuels, and Carbon Capture Plans

A recent report from the European Climate Neutral Observatory (ECNO) raises alarms about the potential derailment of the EU’s 2030 climate goals. The report, titled “Net Zero Risk in European Climate Planning: A Snapshot of...

EU’s New Banking Guidelines Focus on ESG and Climate Transition Risk Management

The European Banking Authority (EBA) has initiated a consultation process on proposed guidelines for banks to effectively identify, measure, manage, and monitor Environmental, Social, and Governance (ESG) risks. This includes addressing risks associated with the...

EU Cracks Down on Greenwashing: New Directive Approved

In a vote at the European Parliament, members have overwhelmingly endorsed new legislation aimed at combatting misleading environmental claims by businesses. Out of the 593 MEPs present, 593 voted in favor, signaling a strong commitment...

Australia’s Push for Climate Accountability: New Mandatory Reporting Law

Australia is set to make a significant leap in climate accountability with its new draft legislation mandating climate-related reporting for a broad range of companies. This groundbreaking move aims to provide clear, reliable information on...

French Ruling on Sustainable Funds to Drive Major Fossil Fuel Divestments in Europe

France Sets New Standards for ISR Funds France has implemented stringent new regulations for funds operating under its “socially responsible” ISR label, potentially causing billions of euros in divestments from fossil fuel holdings by pan-European...

UK Financial Watchdog Introduces New Framework to Combat Greenwashing in ESG Funds

New Measures to Protect Retail Investors The UK’s Financial Conduct Authority (FCA) has unveiled a comprehensive framework aimed at shielding retail investors from misleading environmental, social, and governance (ESG) claims. This initiative introduces an explicit...

Scania Implements Mandatory Green Purchasing Requirements for its Supply Chain

Strategic Shift towards Sustainable Transport Scania, the Swedish automotive industry giant, has announced a major shift in its purchasing policies, now mandating green supply chain requirements. This move reflects Scania’s commitment to leveraging its market...

Emerging AI and ESG Reporting Trend Raises New Governance Risks

The Rise of AI in ESG Reporting Artificial Intelligence (AI) is increasingly being integrated into environmental, social, and governance (ESG) reporting. As disclosure rules become more detailed, corporates and financial sectors are turning to AI...

Carbon Management Software Market Projected to Hit $5.5 Billion by 2032 Amid Rising Demand for ESG Transparency

Rising Demand for Carbon Management Solutions In response to increasing sustainability awareness and the looming threat of a global 1.5°C temperature rise, companies are increasingly turning to carbon management software. These tools, essential for calculating,...

Hong Kong is set to introduce a set of guidelines for ESG ratings and data

Hong Kong’s Securities and Futures Commission (SFC) supports and sponsors the development of a Voluntary Code of Conduct (VCoC) for ESG ratings and data products providers in Hong Kong. The VCoC will align with international...

Outflows from Europe’s ESG funds continue to worsen

The European sustainable fund industry experienced outflows in the third quarter due to concerns about economic uncertainty and regulatory changes. In Europe, ESG funds launches totalled 126 in the third quarter, down 31% from the...

Businesses Advised to Prioritize ESG in Growth Strategies, Reports Moore Global

In the current economic climate, incorporating Environmental, Social, and Governance (ESG) factors into business strategies is crucial for sustainable growth, asserts Moore Global’s CEO, Anton Colella. A recent study by Moore Global, in collaboration with...

European Commission Targets Microplastic Pollution with New Preventative Measures

In an unprecedented move, the European Commission is introducing measures designed to curtail microplastic pollution resulting from accidental plastic pellet spillage. Annually, an estimated 52 to 184 thousand tonnes of these pellets contaminate the environment...

Malta Launches Consultation on Offshore Renewables Policy, Including Wind and Solar

The policy document and consultation it has initiated was announced by Energy Minister Miriam Dalli in the presence of stakeholders and regulating entities. The Offshore Renewable Energy Policy is technology neutral, and supports the implementation...

LG Group Manages ESG Information Like Financial Data

LG Group has decided to manage environmental, social, and governance (ESG) management activities as if they were financial data. The aim is to provide shareholders with transparent and consistent ESG performance and information to lead...

A Regional Comparison of ESG Regulations: Singapore

Environmental, social and governance (ESG) standards are rapidly gaining prominence regionally and internationally, as regulators equip their jurisdictions with appropriate guidelines targeted at meeting ESG objectives and preventing an increase in undesirable practices such as...

A New Dawn For ESG Regulation In Singapore?

Singapore’s regulators are taking important steps toward advancing environmental, social and governance (ESG) goals in the corporate sphere. In June 2023, the Monetary Authority of Singapore (MAS) launched a public consultation on a proposed code...

EU Commission Adopts Final Sustainability Reporting Rules

The European Commission announced today that it has adopted the European Sustainability Reporting Standards (ESRS), the rules and requirements for companies to report on sustainability-related impacts, opportunities and risks under the EU’s upcoming Corporate Sustainable...

Driving ESG Compliance in the Philippines

With the focus on environmental, social and governance, a clearer understanding will help businesses align with global frameworks The venerated American economist Milton Friedman once said: “The business of business is business.” The only social...

Climate-Related Lawsuits Increase Nearly 2.5 Times Worldwide in Five Years

The number of “climate-related” legal cases worldwide has surged nearly 2.5 times in the past five years, becoming a pivotal mechanism for combating climate change. This information was revealed in a joint report by the...

Regulatory Pressure Fuels a Boom in the ESG Reporting Software Market

Rising regulatory demands and increasing stakeholder pressure are prompting a surge in demand for ESG reporting and data management software. According to a report by Verdantix, this is leading to the creation of a multi-billion...

Nature Restoration Law: MEPs Adopt Position for Negotiations with Council

The EU must have restoration measures in place by 2030 covering at least 20% of its land and sea areas, say MEPs. Following a debate on Tuesday, Parliament today adopted its position on the EU...

A New Era of ESG Reporting: What Miners Need to Know About the ISSB Standards

We’re entering a new era of sustainability disclosure. June saw the much-anticipated launch of the International Financial Reporting Standards (IFRS) Sustainability Disclosure Standards by the International Sustainability Standards Board (ISSB). The standards mark a significant...

Microsoft Adds ESG Reporting, Scope 3 Emissions Capabilities to Sustainability Platform

Microsoft unveiled a series of new features that it is adding to its sustainability platform, Microsoft Cloud for Sustainability, with updates including capabilities to help companies meet emerging ESG reporting requirements and regulations, calculate Scope...

EU bolsters sustainable finance with strict regulations for ESG rating agencies

The EC has unveiled several measures, including regulations for ESG ratings providers and a fresh set of criteria for the EU Taxonomy of sustainable economic activities. These steps are part of the Commission’s strategy to...

ESG regulations have increased 155% in the last decade

New research has found that global ESG regulations have increased by 155% in the last 10 years as nations get serious about climate legislation, but the risk remains that companies will struggle to navigate the...

Secondary legislation clarifies contribution of biofuels to renewables target in transport

New rules on how to calculate the contribution of biofuels and biogas in blended transport fuel to the EU renewable energy target in transport have been adopted by the Commission today. The delegated regulation, foreseen...

UK businesses risk fines for missing emissions reporting deadline

The European Corporate Sustainability Reporting Directive comes into force in 2024 Almost two-thirds (60%) of UK companies are set to miss an upcoming Scope 3 emissions reporting deadline, according to a survey, putting them at...

The Hong Kong Stock Exchange is seeking feedback on its proposals to improve climate disclosure in ESG reporting

The Hong Kong Stock Exchange is seeking feedback on its proposals to improve climate disclosure in ESG reporting, including making it mandatory for all issuers and introducing new disclosures in line with the Climate Standard...

EU agrees binding green fuel targets for aviation

The European Union has agreed a deal to set binding targets for airlines in Europe to increase their use of sustainable aviation fuels, in an attempt to kickstart a market for green fuels and start...

Asia and Australia target greenwashing as companies risk penalties

Asia-Pacific nations from Singapore to South Korea are getting tougher on false or misleading climate claims as ESG rules ramp up. Having pressured South Korean oil giant SK E&S into retracting claims it would produce...

At Least 10,000 Foreign Companies to Be Hit by EU Sustainability Rules

A Refinitiv analysis has identified thousands of companies subject to the coming EU rules. About a third are American, 13% are Canadian and 11% are British. Thousands of American, Canadian and British companies will have...

EU taxonomy changes

The European Commission has opened a four-week consultation on changes to the European Green Taxonomy. Proposals under consideration are: The changes will be adopted in June this year and will take effect from 1 January...

Tunisia introduces water quota system due to severe drought

Tunisia on Friday introduced a quota system for potable water and banned its use in agriculture until Sept. 30 in response to a severe drought that has hit the country, the agriculture ministry said. Tunisia,...

UN General Assembly Seeks World Court Ruling on Climate Change

The United Nations General Assembly’s consensus adoption on March 29, 2023, of a resolution seeking an International Court of Justice (ICJ) advisory opinion on climate change is a milestone in defining the human rights obligations...

EU pushes forward Net Zero Industry Act

The plan aims to increase the manufacturing of clean technologies in the EU to reach at least 40% of the EU’s deployment needs by 2030 The European Commission has proposed the Net Zero Industry Act...

The first rule of ESG: Don’t talk about ESG

How much should companies cower to the political pushback against all things ESG and, well, “woke”? I’ve been pondering that question and talking to corporate sustainability professionals and communications experts to understand how companies are...

Finastra launches ESG solution for sustainable lending

Finastra has launched its ESG Service, a cloud-native SaaS product that simplifies lending for sustainable practices. The ESG Service is an open and scalable platform that makes it easier to integrate sustainability performance goal criteria...

State of ESG regulation and investment outlook in China

With the growing importance of environmental, social and corporate governance (ESG) and the high level of globalisation in capital and supply chains, the scope of ESG regulation is no longer confined to listed companies, the...

Republican governors tout green bona fides even as ESG becomes politically toxic as ‘woke’ climate change virtue signaling

Republican governors across the US have been trumpeting their states’ green bona fides even as the anti-ESG clatter from GOP lawmakers shows few signs of abating. Alaska’s Mike Dunleavy said his state has the potential...

ESG is increasingly critical in US M&A, but greenwashing concerns persist

Buyers are scrutinizing everything from an acquisition target’s projected greenhouse gas (GHG) emissions to ways in which a deal may impact their own climate mitigation strategies. In this regard, reliable and verifiable reporting of climate...