With the uncertainty plaguing the ultimate status of the SEC’s climate disclosure rules on the federal level (we reported on the most recent developments in The SEC Votes to “End its Defense” of Climate Change Rules and SEC Asks Court to Put Climate Change Litigation on Hold), a number of U.S. states have continued
Environmental, Social and Corporate Governance (ESG)
Have your say on CSRD: EFRAG Launches Public Call for Input on Revisions to ESRS
By John Verwey, Rachel Lowe, Sulaiman Malik & Michael Singh on
The European Financial Reporting Advisory Group (EFRAG) has launched a public call for input (Call for Input) on 9 April 2025, seeking feedback from stakeholders and, in particular, from the first wave of preparers who applied the European Sustainability Reporting Standards (ESRS) in their 2024 Corporate Sustainability Reporting Directive…
Changes on the Horizon for UK Alternative Investment Fund Management Regulation
By John Verwey, Rachel Lowe, Sulaiman Malik & Michael Singh on
On 7 April 2025, HM Treasury published a consultation to overhaul the regulation of Alternative Investment Fund Managers (“AIFMs“) in the United Kingdom (“Consultation“). The Financial Conduct Authority (“FCA“) has published a call for input alongside the Consultation (“Call for Input“), which indicates its approach to regulating…
CSRD and CSDDD Officially Delayed, With Huge Majority of MEPs in Support
By John Verwey, Rachel Lowe, Sulaiman Malik & Michael Singh on
On 3 April 2025, the European Parliament voted to postpone the implementation dates for corporate sustainability due diligence and reporting requirements, as the first step in the European Commission’s “Omnibus” simplification package to reduce administrative requirements of companies and aimed to bolster the competitiveness of the European Union. With 531 votes for, 69 against and…
Momentum on Voting on the Omnibus Delay and Updating Corporate Sustainability Reporting Requirements
By John Verwey, Rachel Lowe, Sulaiman Malik & Michael Singh on
Vote to delay
On 1 April 2025, the European Parliament approved the “urgent procedure” with regards to the “Omnibus” package of proposals to streamline corporate sustainability requirements.
The next step to vote on the “stop-the-clock” proposal will take place on 3 April 2025.
The approval of the urgent procedure of the Omnibus passed with…
European Council Greenlights First Step of Omnibus – The ‘Stop-the-clock’ Proposal
By John Verwey, Rachel Lowe, Michael Singh & Sulaiman Malik on
On 26 March 2025, the European Council approved its position, known as a “negotiating mandate”, on a key element of the European Commission’s proposal to streamline corporate sustainability requirements which are captured in an “Omnibus”. Specifically, they approved a delay to the current timetable of the Corporate Sustainability Reporting Directive (“CSRD”)…
EU Platform on Sustainable Finance Focuses on Usefulness of Taxonomy in Response to European Commission Proposal
By John Verwey, Rachel Lowe, Sulaiman Malik & Michael Singh on
On the 26 March 2025, the EU Platform on Sustainable Finance (“Platform”) responded to the European Commission’s call for evidence on the draft delegated regulation amending the Taxonomy Delegated Acts[1] (the “Taxonomy”).
The Platform welcomes many of the proposed amendments and notes that several of the Platform’s recommendations from their…
UK Financial Regulators Drop Diversity and Inclusion Rules but Keep Culture in Focus
By John Verwey, Rachel Lowe, Sulaiman Malik & Michael Singh on
On 11 March 2025, the UK’s financial regulators confirmed they have decided not to move forward with proposed diversity and inclusion (D&I) rules for financial firms. This decision in a letter by the Financial Conduct Authority (FCA) and a letter by the Prudential Regulation Authority (PRA) marks the end…
CSRD Slashed: EU’s Corporate Sustainability Regulations Significantly Reduced
By John Verwey, Rachel Lowe, Sulaiman Malik & Michael Singh on
On 26 February 2025, the European Commission (the “Commission”) adopted a new package of proposals to simplify the regulations on sustainability. Their aim is to combine the competitiveness and climate goals of the European Union, which we reported on here, as part of their aim for a “simpler and faster” Europe.
The proposals…
Streamlining Sustainable Finance: Simplification of the EU Taxonomy
By John Verwey, Rachel Lowe, Sulaiman Malik & Michael Singh on
On 5 February 2025, the EU Platform on Sustainable Finance (the ‘‘Platform’’) published a report with recommendations on how to simplify the EU Taxonomy (the ‘‘Report’’). The EU Taxonomy is the EU’s classification system for sustainable activities. The Report sets out key areas of improvement and simplification of taxonomy reporting by…