climate reporting News

EU Plans to Walk Back Key Planks of Toughest ESG Legislation

The European Commission is proposing a significant watering down of what was arguably its most consequential piece of ESG regulation. The European Union’s executive arm is proposing that the bloc amend eight main points in the scope of the Corporate …

EU Weighs Easing Corporate Liability Under Toughest ESG Law

The European Union is reviewing the extent to which companies can be held liable for environmental and human rights breaches in their supply chains, ahead of a package designed to remove red tape from the bloc’s ESG regulatory framework. The …

Investors With $6.8 Trillion Warn EU Not to Bow to ESG Backlash

A group of investors representing €6.6 trillion ($6.8 trillion) of assets is calling on European officials not to cave in to mounting pressure to scale back the bloc’s ESG regulations. The planned reporting rules are essential to help asset managers …

Corporate ‘Irritation’ Over ESG Fueled by Significant Costs

As ESG rapidly morphs into one of the least-loved labels in global finance, those monitoring the development say it’s not all down to ideology. Instead, annoyance with environmental, social and governance metrics has grown along with regulatory requirements around ESG …

EU Says Drive to Simplify Will Not Weaken Climate Agenda

The European Union’s drive to simplify rules will not weaken the bloc’s climate change goals, European Commission President Ursula von der Leyen said. She was speaking on Wednesday after the Commission published a plan to boost EU competitiveness, the first …

Three-Quarters of Firms Globally Are Not Ready for New ESG Rules: KPMG Report

Three-quarters of companies globally are not ready to have their environmental, social and governance (ESG) data audited externally months before new regulations kick in, according to a new report from KPMG published on Tuesday. Stricter European Union, U.S. and global …

Finance Firms Managing $136T in Assets Urge Boards for More Environmental Data

Financial institutions managing $136 trillion in assets will this week call on companies to share more data on their environmental impact, the chair of disclosure platform CDP told Reuters. In a letter to the boards of over 15,000 companies, 746 …

Canada Financial Watchdog Sets Rules for Insurers, Banks on Climate Risk Disclosure

Canada’s financial industry regulator published a set of guidelines for banks, insurance companies and other regulated firms to assess and disclose climate risks. Financial firms will need to release climate-related financial disclosures at least once a year, the guidance from …

G20-Backed Standards Body Approves First Global Company Sustainability Rules

The G20-backed International Sustainability Standards Board on Thursday approved “global baseline” rules for firms disclosing how climate change affects their business, after calls to curb greenwashing in a “pivotal” year for climate reporting. Subject to ‘balloting’, or standard checks before …

Fund Groups Warn Against EU Idea of Legally Defining ‘Greenwashing’

LONDON, Jan 16 (Reuters) – European Union regulators should not define greenwashing in law, fund industry groups have told the bloc’s markets watchdog, citing concerns this would complicate a sector in “constant flux.” Trillions of dollars have flowed into investments …