Sullivan & Cromwell (S&C) lawyers. The highlights of key recent developments in environmental, social and governance (ESG) matters of relevance to public and private companies globally. Impacting people, companies and financial institutions in several jurisdictions.
European Union (EU), actions focus on boosting low carbon industries:
the Net-Zero Industry Act
the Critical Raw Minerals Act
the new European Hydrogen Bank
United States (USA):
conflict over ESG investing continues at the federal and state level
resolution - vetoed by Biden - to overturn a new Department of Labor rule that permits retirement fund fiduciaries to consider ESG factors in their investment decision-making
similar efforts across many U.S. states to limit financial market participants’ consideration of ESG factors
SEC disclosure controls
Institutional Shareholder Services releases new Global Board-Aligned Voting Policy to counter ESG-focused policies
United Kingdom (UK):
Parliamentary committee and regulator’s anti-greenwashing proposals
critical mineral supply chain
nuclear power as environmentally sustainable
Competition and Markets Authority and draft guidance on environmental sustainability agreements
FTSE Women Leaders Review finds companies met voluntary gender diversity targets early
Financial Institutions and Sustainable Finance Developments:
USA International Development Finance Corporation and revisions to environmental and social policy and procedures
EU to review how early climate-related shocks could generate significant stress for the financial system in the period up to 2030 as well as review how the financial system can support green investments under stress
EU legislators reach deal on European Green Bond Standard
Bank of England releases report on climate risk and regulatory capital framework
Canadian Office of the Superintendent of Financial Institutions and new guideline on climate risk management
Plus Australia on greenwashing and IPCC report
Click at the image below for more details at the S&C ESG Monthly Newsletter .
