The Securities and Exchange Commission adopted (in a 3-2 vote) final rules related to climate-related disclosures. These rules had first been proposed in March 2022. In his opening remarks, SEC Chair Gensler noted that the climate-change related disclosure rules will
Eye on ESG
Tracking the Transition to Sustainable Business and Finance
Latest from Eye on ESG - Page 2
BUSINESS AND HUMAN RIGHTS: EU POLITICAL AGREEMENT ON FORCED LABOR PRODUCT BAN
On March 5, 2024, the European Parliament and the Council of the European Union reached a “political agreement” on a Regulation prohibiting products made with forced labor on the European Union (“EU”) market.1 While binding legislation was initially proposed…
NGO successfully challenges planning inspectors’ report on energy performance standards
The recent decision (20 February 2024) of the High Court in R (Rights Community Action) v Secretary of State is a rare example of an NGO succeeding in a climate change legal action under English law. In the case, Rights…
LAWSUIT CHALLENGES RECENT CALIFORNIA CLIMATE DISCLOSURE LAWS
A new lawsuit filed by several business interest groups seeks to overturn two recent California laws relating to emissions disclosures (SB253) and climate-related financial risk disclosures (SB261), which would require thousands of covered companies to begin making disclosures as early…
EU lawmakers agree on proposal to regulate ESG ratings providers
On 5 February 2024, the Council of the EU and the European Parliament reached a provisional agreement for a regulation on ESG rating activities (the “Proposed EU Regulation”). The Proposed EU Regulation differs in certain respects from the version that…
COP28 insights mini-series
Our mini Q&A series followed COP28, providing you with a quick and easy way to see how the discussions evolved. Our coverage highlighted significant and recent developments from a legal perspective, allowing you to assess the impact of these on…
SINGAPORE’S CARBON REGULATIONS: PAVING THE WAY FOR THE GREEN PLAN 2030
Recognising the threat of climate change and the importance of sustainable development, Singapore has made a commitment to establishing a robust framework of environmental and climate change laws and regulations – an unprecedented initiative in the Southeast Asia region.
Singapore…
NYDFS Finalizes Climate Risk Management Guidance
On December 21, 2023, the New York Department of Financial Services (“NYDFS”) finalized guidance on how the banks and mortgage institutions it regulates (“New York Institutions”) should manage climate-related financial and operational risks (the “Guidance”). The Guidance establishes extensive obligations…
Council of the EU agrees on proposal to regulate ESG ratings providers
On 20 December 2023, the Council of the EU reached an agreement on its negotiating mandate on a proposal for a regulation on ESG ratings (the “Proposed EU Regulation”). This builds on the European Commission’s proposal, which was published on…
Congress rejects presidential vetoes to Federal Law that establishes time limit requirement for indigenous lands demarcation
On December 14, the National Congress of Brazil overrode most of the presidential vetoes to Federal Law No. 14.701/2023 (the “Time Limit Act”), which regulates Article 231 of the Constitution to set guidelines for the recognition, demarcation, use and management…