On 14 May 2023, the European Securities and Markets Authority (ESMA) published the Final Report containing Guidelines on funds’ names using ESG or sustainability related terms. The Final Report follows a public consultation which ran from 18 November 2022 to 20 February 2023 and a statement on 14 December 2023.
The objective of
On 24 April 2024, the European Parliament plenary formally adopted the proposal for a Directive on Corporate Sustainability Due Diligence (CSDDD or the Directive). This note summarises ten key issues enterprises active in the EU should know about the Directive.
1. Aim of the CSDDD
The CSDDD will serve a number of purposes.
On 25 April 2024, the European Parliament adopted the text of the proposed Corporate Sustainability Due Diligence Directive. The draft Directive still needs to be formally adopted by the Council of the EU. Following this it will be published in the Official Journal of the EU (OJ).The Directive enters into force on the
On 25 April 2024, the European Parliament issued a press release stating that it had adopted the text of the proposed Regulation on the transparency and integrity of environmental, social and governance rating activities. The legislative measures still need to be formally adopted by the Council of the EU. Following this they will be published
On 16 April 2024, the Basel Committee on Banking Supervision (Basel Committee) issued a Discussion Paper on how climate scenario analysis (CSA) can be practically used to help strengthen the management and supervision of climate related financial risks. The Discussion Paper considers the objectives of CSA exercises and relevant features to
On 10 April 2024, the European Parliament (EP) issued a press release confirming that MEPs have approved delaying sector specific sustainability reporting standards, as well as general reporting standards for non-EU companies.
The press release outlined that:
On 4 April 2024, the European Commission (the Commission) published a Progress Report on the Platform on Sustainable Finance’s Monitoring Capital Flows to Sustainable Investments.
The Report outlines that the European Union must scale up its investments in reaching climate and environmental targets by at least two thirds by 2030, relative to average levels
On 26 March 2024, the European Securities and Markets Authority (ESMA) issued a consultation paper containing draft technical standards supplementing the EU Green Bond Regulation. The consultation paper is the first of two consultations planned by ESMA with the other set for Q1 2025.
The EU Green Bond Regulation lays down uniform requirements
On 15 March 2024, the Council of the EU published a letter it had sent to the Chair of the European Parliament’s Committee on Legal Affairs concerning the proposed Directive on Corporate Sustainability Due Diligence and amending the Whistleblower Directive. The letter states that following informal trilogue between the three institutions on 13 December 2023
On 29 February 2024, members of the Norton Rose Fulbright Risk Advisory and Financial Services team hosted the first in our three part webinar series on ESG.
In this first instalment of the webinar series the team provided an analysis into the SFDR vs the SDR. In addition, the team looked closely at the increasing