We have published a new briefing note ‘Climate adaptation: what steps should financial institutions be taking now?’
Previous financial services related ESG notes and podcasts can be found on our Financial Services Regulatory Developments in ESG hub.
FCA sets out temporary measures for firms on ‘naming and marketing’ sustainability rules
- The new anti-greenwashing rule took effect from 31 May 2024.
- Since 31 July 2024 managers of UK-based
FAQs on the implementation of the EU corporate sustainability reporting rules
On 7 August 2024, the European Commission (Commission) published frequently asked questions (FAQs) intended to clarify the interpretation of certain provisions on sustainability reporting introduced by the Corporate Sustainability Reporting Directive.
The FAQs also include a limited number of clarifications concerning the interpretation of certain provisions of the first set of
Climate Resilience Dialogue – final report
On 30 July 2024, the Climate Resilience Dialogue published its final report.
The Climate Resilience Dialogue is a temporary group of stakeholders set up at the initiative of the European Commission (Commission) to discuss ways to narrow the climate protection gap and increase the resilience of the economies and societies to the
FSB report – Stocktake on Nature-related Risks: Supervisory and regulatory approaches and perspectives on financial risk
On 18 July 2024, the Financial Stability Board (FSB) issued a report providing a stocktake of member financial authorities’ initiatives related to the identification and assessment of nature-related financial risks.
The report draws on a survey of participating FSB members and the work done by international organisations on nature-related risks. It summarises current
NGFS publishes an information note on “Improving Greenhouse Gas Emissions Data”
- Outlines the use cases of Greenhouse Gas (GHG) emission data by supervisors, regulators and central banks. It describes the different countries’ experience about the availability, sources,
Published in OJ – Corporate Sustainability Due Diligence Directive
On 5 July 2024, there was published in the Official Journal of the EU (OJ), Directive (EU) 2024/1760 of 13 June 2024 on corporate sustainability due diligence and amending Directive (EU) 2019/1937 and Regulation (EU) 2023/2859.
The Directive enters into force on the twentieth day following its publication in the OJ (25 July
EBA issues ‘travel rule’ guidance
On 4 July 2024, the European Banking Authority (EBA) issued new guidelines on the ‘travel rule’.
The EBA publicly consulted on a draft version of the guidelines between 24 November 2023 and 26 February 2024. A public hearing took place on 17 January 2024.
The guidelines specify which information should accompany a transfer
NGFS reports on nature-related risks
On 2 July 2024, the Network for Greening the Financial System (NGFS) published two complementary reports on nature-related risks:
This report covers key emerging trends related to nature-related litigation, including cases concerning biodiversity loss, deforestation, ocean degradation, carbon sinks and plastic pollution
New Risks Redefined podcast: The UK General Election – Compliance considerations for financial services firms
In the first episode of our podcast series, Risks Redefined, brought to you by the Risk Advisory team, Hannah Meakin and Haney Saadah discuss the upcoming UK general election and what this will mean for firms with regards to compliance, in both the lead up to the election and the implications of the various potential