On 16 January 2025, the Financial Stability Board (FSB) issued a report on the assessment of climate-related vulnerabilities.
The report is part of the FSB’s Roadmap to Address Climate-related Financial Risks and describes a framework and analytical toolkit to assess climate-related vulnerabilities using a forward-looking approach. It also includes some metrics that can
On 16 January 2025, the European Banking Authority (EBA) issued a consultation paper on draft guidelines on environmental, social and governance (ESG) scenario analysis.
The draft guidelines are addressed to Member State competent authorities and to financial institutions as defined in Article 4(1) of Regulation No 1093/2010 which are also institutions
On 9 January 2025, the European Banking Authority (EBA) published a Final Report containing Guidelines on the management of Environmental, Social and Governance (ESG) risks (the Guidelines).
The Guidelines address ESG risk management processes of ‘financial institutions’ (as per Article 4(1) point 3 of the Capital Requirements Regulation) as part
On 17 December 2024, the Platform on Sustainable Finance, an advisory body to the European Commission, published a briefing note outlining how a categorisation system for sustainable finance products could be set up and calibrated. The Platform on Sustainable Finance will present the proposal in a webinar on 21 January 2025 from 13:00 to 14:00
On 18 December 2024, the European Central Bank and European Insurance and Occupational Pensions Authority issued a paper which proposes a possible EU-level solution to address the widening gap in natural catastrophe insurance protection in Europe. The paper analyses 12 existing national natural catastrophe insurance schemes and how they employ private and public funds to
In recent years, diversity and inclusion (D&I) in the financial services sector has become a focus for regulators around the world. Individual regulators, however, have taken different approaches to D&I to reflect the local socio-economic environment.
Below, we provide a high-level summary of the position across a number of key jurisdictions updating our table published
On 13 December 2024, the European Securities and Markets Authority (ESMA) issued Q&As on the application of its guidelines on funds’ names using ESG or sustainability-related terms (Guidelines).
Background
On 21 August 2024, ESMA announced that it had published translations of the Guidelines in all official EU languages.
Following the publication
On 12 December 2024, there was published in the Official Journal of the EU (OJ), Regulation (EU) 2024/3005 of the European Parliament and of the Council of 27 November 2024 on the transparency and integrity of Environmental, Social and Governance rating activities, and amending Regulations (EU) 2019/2088 and (EU) 2023/2859.
The Regulation enters
On 2 December 2024, the European Commission issued a set of FAQs to support stakeholders in the implementation of the EU taxonomy.
The FAQs provide technical clarifications regarding various elements of the EU taxonomy. Among other things, they cover the application of general taxonomy requirements and technical screening criteria for specific activities included in the
On 19 November 2024, the Council of the EU issued a press release stating that it had adopted the Regulation on ESG rating activities.
Next steps
The Regulation will be published in the Official Journal of the EU and enter into force 20 days later. The Regulation will start applying 18 months after its entry