This is the first of an occasional series to help inform you in a timely way of meaningful – yet still selective & practical – news developments that occur in a short period of time. Sometimes a lot happens at once, and we want to get you the headlines for important news before your boss asks you about it. We’ll analyze some of these stories in greater depth in subsequent blogs or other future resources.
The items below are out of the UK and Europe, but are important as they impact US-based multi-nationals and serve as potential bellwethers for actions on SEC’s table right now.
- EU adopts 2050 climate neutrality law
- UK adopts climate disclosure rules
- EU Sustainable Finance Disclosure Regulation (SFDR) has created problems similar to what SEC’s Division of Examinations April 9, 2021 Review of ESG Investing Risk Alert was intended to address.
- The European Commission may have weakened the financial sector’s own demand for ESG linked bonds by calling them unsuitable for use as a resource for the banking sector’s own capital preservation assets.
- Climate litigation predicted – once again – to grow, but this time there is legal momentum, precedent and science behind the threat.
- The International Organization of Securities Commissions (IOSCO), the international body of the world’s securities regulators and global standard setter for the securities sector, plans to publish a report next month concerning oversight of ESG ratings agencies and their credentials.