Corporate climate disclosure is the current focus of legislative bodies around the world. From the US Securities and Exchange Commission’s (SEC) proposed climate disclosure rule to the EU Commission’s Corporate Sustainability Reporting Directive, more companies are becoming subject to mandatory climate reporting. California, which is both a Democrat state and the US’s largest state economy, […]
Use Case: Compliance
Unpacking the European Union’s CSRD
June 28, 2023 The European Union’s Corporate Sustainability Reporting Directive (CSRD) came into force on January 5, 2023. This wide-ranging legislation calls for the robust reporting of corporates’ climate-related financial risks and opportunities — and not just for companies in the European Union. Tens of thousands of companies in the US, UK, Canada, and elsewhere […]
Climate Risk Regulation Rundown: May 2023
What happened in climate-related financial regulation last month, and what’s coming up. Americas Commissioner Mark Uyeda of the US Securities and Exchange Commission (SEC) warned that the agency may become the “global police” for environmental, social, and governance (ESG) issues. In a speech before the Managed Funds Association on May 16, Uyeda said the SEC […]
How Does the CSRD Compare to the TCFD?
Businesses, investors, and governments are increasingly paying attention to companies’ climate and sustainability disclosures so they can better understand their financial risks and opportunities. To improve the quantity and quality of this information, global standard-setters and regulators are introducing climate and sustainability reporting frameworks and rules. The European Union’s Corporate Sustainability Reporting Directive (CSRD) and […]
Climate Risk Regulation Rundown: March 2023
What happened in climate-related financial regulation last month, and what’s coming up. Americas On March 20, US President Joe Biden vetoed a Republican-led attempt to stop retirement plan managers from considering environmental, social, and governance (ESG) factors when making investments. The Department of Labor’s rule, put into effect this January, allows managers to consider climate […]
Climate Risk Regulation Rundown: February 2023
What happened in climate-related financial regulation last month, and what’s coming up. Americas On February 14, US President Joe Biden appointed Lael Brainard, a vice-chair of the Federal Reserve, to serve as director of the National Economic Council (NEC). Brainard was a climate hawk during her time at the Fed, making speeches on the importance […]
White Paper: Why the SEC Proposed Climate Disclosure Rule is a Game Changer
The US Securities and Exchange Commission (SEC) is ushering in a new era of climate-related disclosure. In April 2023, the agency is expected to finalize a new rule that will require all companies listed on US exchanges to include detailed climate-related information in their periodic filings. The rule, in part inspired by the Task Force […]
Climate Risk Regulation Rundown: November 2022
What happened in climate-related financial regulation last month, and what’s coming up. Americas The US Securities and Exchange Commission (SEC) charged Goldman Sachs Asset Management (GSAM) for failing to honor policies and procedures linked to three environmental, social, and governance (ESG) products. In an order published November 22, the agency said GSAM will pay a […]
CDP Reporting Annual Disclosure Updates for 2023
Today’s climate disclosure landscape is quickly evolving. Amid the emergence of regulatory climate disclosure requirements, and in order to remain relevant, well known voluntary disclosure standards are changing. CDP, the sustainability disclosure non-profit, is one example. The organization updates its disclosure framework annually, adjusting its coverage of key climate issues, as well as the contents […]
Climate Risk Regulation Rundown: October 2022
What happened in climate-related financial regulation last month, and what’s coming up. Americas The US Securities and Exchange Commission (SEC) reopened the comment period for its proposed climate risk disclosure rule on October 7 and is unlikely to finalize the regulation this year. The agency discovered a technical error, which caused some public comments submitted […]