On May 11, the International Capital Market Association’s (ICMA) Sustainable Finance Committee published a report setting out its proposed high-level definitions for the most frequently used terminology in the sustainable finance sector (the Report).
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ESG factors
London Weekly Fireside Chat
Posted in Financial Markets, UK Developments
Katten is continuing our weekly, 15-minute fireside chat series featuring London partners Carolyn Jackson, Nathaniel Lalone and Neil Robson on notable UK and European developments from the prior week’s Corporate & Financial Weekly Digest. Please join us for our second installment Tuesday, May 12, at 1:00 p.m. Eastern / 6:00 p.m. London time.
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ESG: House of Commons EU Scrutiny Committee Letter Regarding the Taxonomy Regime
Posted in Financial Markets, UK Developments
On May 4, the House of Commons EU Scrutiny Committee (the Committee) published a letter to HM Treasury on the proposed regulation (the Taxonomy Regulation) on the establishment of a framework to facilitate sustainable investment (the Letter).
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ESG: EU Council Adopts Taxonomy Regulation
Posted in EU Developments, Financial Markets
On April 16, the Council of the EU (the Council) published a press release regarding a unified EU classification system to encourage private investment in sustainable growth and contribute to a climate-neutral economy (the Press Release).
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ESG: IOSCO Publishes Report on Sustainable Finance and the Role of Securities Regulators and IOSCO
Posted in EU Developments, Financial Markets
On April 14, the International Organization of Securities Commissions (IOSCO) published a final report on sustainable finance and the role of securities regulators and IOSCO (the Report).
In the Report, IOSCO provides an overview of the current sustainable finance initiatives taken by regulators and the industry. The Report also includes a detailed analysis of the most relevant environmental, social and governance related international initiatives, and third-party frameworks and standards.
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Environmental, Social and Governance (ESG): TSC Releases Correspondence with UK Regulators
Posted in Financial Markets, UK Developments
On March 10, the United Kingdom’s Treasury Select Committee (TSC) released letters written to the CEO of the UK’s Financial Conduct Authority (FCA) and the Governor of the Bank of England (the Bank) and the responses to those letters. The TSC wrote to the FCA and the Bank in October 2019 and February respectively, and the responses were received in late-February.
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Environmental, Social and Governance (ESG): EU Publishes Taxonomy Final Report
Posted in EU Developments
On March 9, the European Union (EU) Technical Expert Group on sustainable finance (the TEG) published their final report setting out recommendations to the European Commission (the Commission), including recommendations relating to the overarching design of the EU Taxonomy, guidance on how users of the Taxonomy can develop disclosures and a summary of the economic activities covered by the technical screening criteria (the Final Report).
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Environmental, Social and Governance (ESG): EU Publishes Green Bond Guide
Posted in EU Developments, Financial Markets
On March 9, the European Union (EU) Technical Expert Group on sustainable finance (the TEG) published its Usability Guide for the EU Green Bond Standard (the Guide). This is one aspect of the work mandated to the TEG by the European Commission (the Commission) under the Action Plan on Sustainable Finance and builds on the preliminary report on the EU Green Bond Standard published by the TEG in June 2019.
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ESG: ESMA Publishes Strategy on Sustainable Finance
Posted in EU Developments, Financial Markets
On February 6, the European Securities and Markets Authority (ESMA) published its Strategy on Sustainable Finance (the Strategy). This continues work initiated by the European Commission (the Commission) concerning sustainable finance and the incorporation of environmental, social and governance (ESG) factors into European financial services (for more information, please see the January 10 edition of Corporate & Financial Weekly Digest).
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ESG and Sustainable Investments: House of Lords EU Committee Queries Taxonomy Regulation With HMT
On January 16, the House of Lords European Union Committee published a letter from the Chair, Lord Kinnoull, to John Glen, Economic Secretary to Her Majesty’s Treasury (the Letter). The Letter concerns the recently published Taxonomy Regulation (for more information please see the January 10 edition of Corporate & Financial Weekly Digest).
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