Topic: Sustainability

Climate risk to become part of PRA’s “core supervisory approach”, with remedial actions in store

The UK’s prudential regulator has warned it plans to ramp up supervision of climate-intensive financing and levy higher capital requirements to compensate for climate risk in 2022, while the Financial Conduct Authority has announced its own refreshed ESG strategy.

29 October 2021

Tighten up ESG-linked derivatives to avoid greenwashing, ISDA urges

Trade organisation ISDA has called for reform in the ESG-friendly investment sector, calling on market participants to adopt quantitative key performance indicators to verify that sustainability-linked derivatives meet their stated goals.

15 September 2021

SEC hints at forthcoming climate disclosure rules

SEC chair Gary Gensler has promised widely anticipated climate disclosure rule proposals will arrive this year and will move beyond the existing TCFD framework.

02 August 2021

FCA pushes to net zero in climate disclosure plans

Issuers of listed securities and asset managers will need to make climate disclosures under new FCA proposals, seeking to bring financial regulation in line with the UK’s 2050 net-zero goal.

24 June 2021

Bank of England launches “fiendishly complicated” climate stress tests

The Bank of England has launched its biennial climate stress test for the UK’s largest banks - but insists it will not link the results to future capital requirements.

10 June 2021

Singapore consults on corporate governance

Singapore’s regulatory authority is consulting on revised corporate governance guidelines for financial institutions, as regulators in Malaysia, Hong Kong and Japan emphasise sustainability and diversity in their own recent corporate governance overhauls.

12 May 2021

Is the European CMBS market set for a revival?

The impact of the covid-19 pandemic on financial markets has been compared by many to the aftereffects of the post-2008 financial crisis, and for good reason. Reed Smith partners Jason Richardson and Iain Balkwill ask whether European commercial mortgage-backed securitisation will survive, or whether the pandemic has sounded a second death-knell for this form of securitisation.

28 April 2021

EU and UK target greenwashing with sustainability proposals

UK lawmakers have urged the country’s financial regulator to ramp up efforts to tackle greenwashing, as the European Commission announces proposals to require large international banks to comply with higher sustainability reporting requirements.

23 April 2021

Community round-up: turnover at the FCA, and new leadership in South Africa and Dubai

The FCA’s international executive director and interim COO Nausicaa Delfas has been named to head up the UK’s Financial Ombudsman Service, while South Africa’s FSCA and Dubai’s DFSA have both announced their new leadership.

23 April 2021

Existing risk categories can capture climate risk drivers, Basel says

The Basel Committee on Banking Supervision says it has “not found any evidence” to support the creation of a separate risk category to address the drivers of climate risk – but indicates there will need to be more “granular” measurement of the changing climate’s impact on banks’ actual exposures.

16 April 2021

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