Adaptation – From Paris to Dubai and beyond

Momentum for adaptation action is growing across the board – but who will lead the way? With the effects of climate change already being felt around the world, climate mitigation measures, while important, may not be enough. More than ever, equal attention needs to be given to climate adaptation – to protect, and ensure the … Read more

ISSB publishes exposure drafts of two Sustainability Disclosure Standards

In March 2022, the International Sustainability Standards Board (ISSB) published two exposure drafts setting out proposed International Financial Reporting Standards (IFRS) Sustainability Disclosure Standards. The IFRS, which sets global accounting standards, established the ISSB in light of increasing calls for transparent, reliable and comparable reporting by companies on ESG matters. The proposed standards are intended … Read more

Starting shot for the implementation race – Initial thoughts on the SFDR RTS adopted on 6 April 2022

The wait is finally over: On 6 April 2022, the EU Commission adopted the Regulatory Technical Standards (“RTS”) for the Sustainable Finance Disclosure Regulation (“SFDR”). Below we have set out our initial thoughts on this text which will be a central working document for the full implementation of SFDR by the financial services industry. Based in part on … Read more

A look at the new Sustainability Disclosure Requirements

On 1 July 2021, Chancellor of the Exchequer Rishi Sunak announced plans to introduce new Sustainability Disclosure Requirements (SDRs). These represent additional disclosure requirements to those required by the Task Force on Climate-Related Financial Disclosures (TCFD) framework. What are SDRs? The government’s announcement indicates that the new SDR regime would apply to companies, pension schemes … Read more

Fit for 55 – EU reveals suite of proposals to combat climate change

The EU has revealed its ‘fit for 55’ suite of policies, which extends to about 2,000 pages and is designed to take a pro-active approach to combating climate change and to introduce a suite of proposals aimed at making Europe ‘the first climate neutral continent in the world’. Fit for 30: striking a balance The … Read more

European Commission publishes proposals for European Green Bond Standard

The European Commission (the Commission) published a draft legislative proposal for the long-awaited European Green Bond Standard (EU GBS) which was published alongside the Strategy for Financing the Transition to a Sustainable Economy on 6 July 2021. The EU GBS is intended to be a voluntary “gold standard” for green bonds and will provide a … Read more

Listing Regime – FCA consultation on enhanced climate-related financial disclosures

The Financial Conduct Authority (FCA) has published a consultation on enhancing climate-related disclosures by standard listed companies (CP21/18).  This consultation follows the FCA’s policy statement (PS20/17) on climate related disclosures by premium listed companies, published in December 2020, which introduced Listing Rule 9.8.6(8), requiring premium listed companies to report climate-related information in line with the … Read more