Topic: Sustainability

Republicans lash out at “troubling” ESG trends at annual bank CEO hearing

The CEOs of the seven biggest US retail banks have faced questions over their ESG-focused initiatives and a spate of user account frauds at P2P network Zelle, in their annual grilling before the US Senate’s banking committee.

26 September 2022

“It’s a little bit of a journey”: the road to climate transition

Panellists from two of the US’ largest regulators discussed the challenges of a US$150 trillion climate transition with representatives of the US Treasury and Goldman Sachs at the Bank Policy Institute-The Clearing House’s annual conference in New York.

15 September 2022

White House mulling climate standards for energy-intensive crypto

US president Joe Biden’s administration has urged a closer look at the climate impact of crypto, as Ethereum prepares for a major change to its processes designed to slash its carbon footprint.

12 September 2022

EU sustainability reporting standard could mean “information overload”, consultees say

Sustainable investing groups have praised the EU’s draft Sustainability Reporting Standards, whose consultation period closed this week, but banking groups have called for a delay in implementation.

10 August 2022

Data availability concerns persist as ESG amendments to MiFID II enter force

New EU rules integrating ESG into MiFID II requirements have come into force, despite warnings from industry that the data needed for effective compliance is still not available.

08 August 2022

“Greening the economy is more important than growing the green economy”: MAS release annual green report

The head of Singapore’s regulator has pledged to focus on “greening the economy” while announcing tightened-up disclosure requirements to prevent greenwashing.

01 August 2022

Industry reacts to “arbitrary and capricious” SEC climate proposal

Industry stakeholders have given a broadly hostile response to the US Securities and Exchange Commission’s climate disclosure proposal, saying its move away from a principles-based approach is “dramatic and unwarranted”.

22 June 2022

Basel focuses on pay in new climate risk standards

Internationally active banks should align their pay with climate risk, the Basel Committee on Banking Supervision has said, as it issues its final rulebook on the subject.

17 June 2022

FSB urges expanded toolbox for addressing systemic climate risks

The Financial Stability Board has released its latest stock-take of regulatory efforts on the climate front – suggesting expanded use of scenario analysis and stress testing, more granular climate reporting requirements, and greater use of macroprudential tools by national regulators.

03 May 2022

EU banks set to disclose “adverse impacts” under new SFDR standards

The European Commission has become the latest body to address climate risk reporting at banks, less than a week after the ISSB issued its draft global standards for sustainability disclosures.

07 April 2022

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