Insights

What does the anti-greenwashing rule mean for UK financial services firms?

Finn Arbuckle, Senior Commercial Analyst, and Madeleine Kelly, Consultant On Tuesday, October 25 2022, the Financial Conduct Authority (“FCA”) published its Consultation Paper (“CP”) for Sustainability Disclosure Requirements (“SDR”) and Investment Labels for UK-based financial market participants. After a year of being under consultation, the final version of the Policy Statement (“PS”) was released on November 28 2023. The SDR is designed to combat greenwashing, increase transparency, create a fair market, and protect retail and institutional investor interests regarding sustainability claims made by UK financial firms.

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The Corporate Sustainability Reporting Directive (“CSRD”) is a European Union regulation aimed at enhancing sustainability reporting by companies.

The SEC Climate-Related Disclosure Rules

Nicole Balarezo, Associate and Hunter Gowans, Senior Consultant After nearly two years of anticipation, the Securities and Exchange Commission (“SEC”) voted in support of the long- awaited Climate-Related Disclosure Rules on Wednesday, March 6 2024, by a margin of 3-2 votes. In fulfilling its role of protecting investors, the Commission approved a rule designed to produce reliable and comparable climate-related information material for investors’ decision-making and voting processes. The final version of the rule is narrower in scope than the original draft and integrates feedback gathered from over 24,000 comments, balancing the market´s demand for uniform climate-related financial information and widely voiced concerns about compliance costs.

CSRD double materiality: Your step-by-step guide

Gert-Jan van de Poll, Senior Associate The Corporate Sustainability Reporting Directive (“CSRD”) requires companies to report on relevant environmental, social, and governance (“ESG”) matters in their own operations, as well as in their upstream and downstream value chain. To determine what is relevant, a company must go through a materiality assessment process that applies the principles of double materiality. This is necessary to determine, in CSRD terminology, the specific reporting standards, disclosures, and data points that must be included in a company's sustainability reporting, as well as those that may justifiably be omitted.

What is the G in ESG? Unveiling the critical role of governance

George Lampridis, Senior Associate While environmental and social considerations often take the spotlight, governance remains the unsung hero of the ESG revolution. It serves as the foundation for the delivery and monitoring of ESG, akin to a ‘sandwich analogy for ESG’. This article delves into the multifaceted role of governance in ESG, highlighting compliance and the financial value of ESG-driven investments. Navigating challenges to establish a future-proof governance framework is crucial for sustainability in today's rapidly evolving landscape.

UK Real Estate Fund Managers: Embrace SDR!

Melville Rodrigues, Head of Real Assets Advisory at Apex Group, welcomes the UK’s Sustainability Disclosure Requirements and calls for UK-EU coherence on fund regulation.

How US credit managers can approach EU SLL issuance 11

Puk van Rees, Manager and Stephen Loce, Senior Analyst

Navigating sustainable investments in Sweden and the Nordics: A legal perspective

Understanding the CSRD through its purpose

Marcos Taboada Espiño, Associate ESG As a key part of the EU Action Plan on Sustainable Finance, the Corporate Sustainability Reporting Directive (“CSRD”) has been designed in response to investor and stakeholder demand for more abundant, trustworthy, and comparable sustainability information from companies to better inform their decision making. In this blog, we explore how CSRD’s purpose has shaped its design through the main requirements it mandates.