Climate activists are putting pressure on the European Union to reconsider its decision to exclude banks from a landmark deforestation rule, in a move designed to preempt an official review of the regulation next year. UK-based nonprofit Global Canopy says …
A provisional agreement in the European Union setting guardrails around the ESG [environmental, social, and governance] ratings industry is being hailed as the world’s toughest. The plan goes “much further than any of the other regimes we have seen internationally,” …
The finance industry will be shielded from the full scope of the European Union’s most consequential piece of ESG legislation to date, as the bloc settles on a compromise to help it get the bill over the finish line. Under …
Britain’s competition watchdog said on Tuesday it would scrutinize environmental claims made by UK consumer goods giant Unilever about certain household essential items, amid a wider crackdown on greenwashing. The Competition and Markets Authority (CMA) said it is seeking to …
Banks, asset managers and other financial firms have won a reprieve from Europe’s most consequential ESG regulation to date, as a wave of intense industry lobbying pays off. Spain, which holds the European Union’s rotating presidency, has proposed that financial …
Fewer than one in five of the world’s biggest polluting companies have short-term emissions reductions targets in line with keeping global temperature rises below 1.5 degrees Celsius, an investor pressure group said on Wednesday. The number of companies pledging to …
Britain’s financial watchdog said on Thursday it was having to “push back” against some investment funds that misleadingly attempt to label themselves as being focused on environmental, social and governance (ESG) based performance. Regulators across the world are seeking to …
A $9.5 trillion investor group that includes Allianz SE, Legal & General Plc and the California Public Employees’ Retirement System reported a modest decline in greenhouse gas emissions enabled by its members’ lending and investment activities, the first time it …
Banks in Europe will need to adjust the risk assessments they conduct of their clients to reflect new ESG requirements enforced by their watchdog. In a world first, the European Banking Authority is revising the framework that sets industrywide capital …
In a global first, Europe’s main bank regulator is revising the framework that sets capital requirements so that lenders reflect environmental and social risks in mandatory, industrywide buffers. The European Banking Authority has identified “some short-term fixes” to minimum requirements …
