Topic: ESG

EU: ECON passes Basel implementation package with consolidated output floor

A key EU parliamentary committee has accepted adaptations to the final Basel III implementation, and opened the door for a potential future dedicated prudential framework that could include a “one-for-one” capital treatment for crypto and fossil fuel financing.

30 January 2023

What’s in store for 2023? Part three: regional issues

Some of the regulatory issues banks will face in 2023 cut across borders, but not all. In this final part of GBRR’s examination of the year to come, we asked practitioners in the US, UK, Singapore, and Hong Kong how local issues will play out over the next 12 months.

18 January 2023

FCA plans code for ESG ratings providers and pushes for extra regulatory powers

The UK’s Financial Conduct Authority has introduced plans for a code of conduct for third-party ESG data and rating services, as a stopgap while it pushes for an expansion of its remit to directly regulate the sector.

28 November 2022

ADGM sustainable finance proposals emphasise taxonomy flexibility

A year ahead of the United Arab Emirates’ hosting of COP28, the financial regulator for Abu Dhabi’s financial free zone has released what it describes as deliberately flexible and non-prescriptive rules on green and “greening” finance, and a new ESG disclosures framework for regulated entities, allowing applicants to apply standards of their own choosing beyond those recommended by global standard-setters.

15 November 2022

FCA introduces anti-greenwashing disclosure and labelling rules

The Financial Conduct Authority is proposing new rules to tackle misleading sustainability labels on investment products, in what has been called a “change of rhetoric” from the UK regulator.

26 October 2022

ESMA releases “nuanced” but “contradictory” five-year plan

The European securities regulator has announced its long-term strategy for the next five years – highlighting stability across the common market and the green and digital transitions – but one practitioner tells GBRR its plans for reducing regulatory complexity are both “nuanced” and “contradictory”.

12 October 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

EBA finalises data collection plans for remuneration and gender pay gap information

The EBA has announced its finalised guidelines for the collection of gender-focused remuneration and salary data, set to come into force next year.

04 July 2022

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