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On May 7, the European Commission (Commission) published its consultation on a draft Delegated Regulation expanding Article 8 of the Taxonomy Regulation ((EU) 2020/852) by specifying the disclosure obligations associated with environmentally sustainable economic activities relating to large corporations.
Continue Reading ESG: European Commission Consults on Draft Delegated Regulation of Disclosure Obligations Under Taxonomy Regulation

On April 26, the Securities and Exchange Commission announced that its Small Business Capital Formation Advisory Committee (Committee) will meet on Friday, April 30, to discuss solutions to increase access to capital for underrepresented founders and investors from smaller, regional funds. The meeting will include a presentation from the Office of the Advocate for Small…

On April 22, the House of Commons Treasury Committee (Committee) published a report on net zero and the future of green finance in the UK (the Report) along with a press release.

The key recommendations proposed by the Committee to achieve net-zero in the UK by 2050 include:
Continue Reading UK Treasury Committee Publishes Report on Net Zero and the Future of Green Finance

On April 23, the Financial Conduct Authority (FCA) published a new webpage on its strategic approach to climate change and sustainable finance.

The FCA explains it will continue to broaden and deepen its sustainable finance strategy, which is based on the themes of transparency, trust, and tools, as set out in its previous feedback statement (FS19/6).
Continue Reading FCA Webpage on Climate Change and Sustainable Finance

On March 22, the Securities and Exchange Commission launched a new page on its website to bring together agency actions and the latest information about climate and environmental, social and governance (ESG) investing.
Continue Reading SEC Responds to Investor Demand by Bringing Together Agency Information About Climate and ESG Issues

On March 15, Acting Securities and Exchange Commission Chair Allison Herren Lee made a public statement (Statement) requesting public input from investors, registrants and other market participants regarding climate change disclosures. In light of increased demand for company disclosure regarding climate change risks, impacts and opportunities, Acting Chair Lee has requested SEC staff to evaluate the SEC’s disclosure rules with an emphasis on promoting disclosures that are consistent, comparable and reliable.
Continue Reading Acting SEC Chair Lee Provides Public Statement Welcoming Public Comment on Climate Change Disclosures

On March 17, Acting Chairman Rostin Benham of the Commodity Futures Trading Commission announced that he has created a new Climate Risk Unit (CRU) to focus on the role of derivatives in mitigating climate-related risks and helping the economy transition to lower carbon usage. The CRU includes staff from across the CFTC’s various divisions and officers and represents the next step in years of climate leadership for the CFTC (including last year’s publication of the Market Risk Advisory Committee’s Climate-Related Market Risk Subcommittee’s report on Managing Climate Risk in the US Financial System).
Continue Reading CFTC Acting Chairman Announces New Climate Risk Unit

On March 10, the European Parliament adopted a legislative initiative report detailing recommendations for a new directive on corporate due diligence and corporate accountability for holding companies accountable for harm caused to human rights, the environment and good governance (the Report).
Continue Reading European Parliament Adopts Report Recommending Directive on ESG Due Diligence Obligations

On March 17, the European Supervisory Authorities (ESAs) published a joint consultation paper on draft regulatory technical standards (RTS) regarding the content and presentation of sustainability disclosures under Articles 8(4), 9(6) and 11(5) of the Sustainable Finance Disclosure Regulation ((EU) 2019/2088) (SFDR).
Continue Reading ESG: ESAs Consult on Draft RTS on Content and Presentation of Taxonomy-Related Sustainability Disclosures Under SFDR