ESG Clarity: The Belgian Presidency has decided to postpone the Corporate Sustainability Due Diligence Directive (CSDDD) vote in the Council of the EU, following Germany’s announcement of abstention and the need for further discussions among EU Member States.
BNN Bloomberg: The European Union has agreed to delay additional ESG disclosure requirements by two years, as it responds to pressure from businesses leaders who warn they’re buckling under the weight of regulations.
ESG Clarity: The European Commission’s proposal for almost full decarbonisation by 2040 “is revolutionary and reinforces the EU position as a global leader on climate change”, according to a leading policy director at the International Emissions Trading Association (IETA).
BNN Bloomberg: The EU was on track to move forward with the Corporate Sustainability Due Diligence Directive after December, when lawmakers and representatives of member states ended months of negotiations with a provisional agreement.
BNN Bloomberg: Europe’s banks are asking investors not to pay too much attention to a new green metric due to be published in in the coming weeks, as early estimates show the industry woefully behind where it needs to be.
GreenBiz: In early 2024, France introduced the potential of jail time for any corporate director who fails to comply with the country’s Corporate Sustainability Reporting Directive (CSRD). Specifically, the penalty includes a fine of up to $81,400 and jail time of up to five years.
Yahoo News: European Union lawmakers backed a two-year delay in sector-specific rules for the oil, energy and mining industries, to make more detailed disclosures on environmental, social and governance (ESG) factors, citing the need to ease regulatory burdens on companies.
ESG Today: EU banking supervisor The European Banking Authority (EBA) announced the launch of a consultation on new proposed guidelines, setting out requirements for banks to identify, measure, manage and monitor ESG risks, including setting plans to address risks arising from the EU’s transition to a climate-neutral economy.
The Guardian: More men than women were appointed to the boards of large financial services firms in Europe last year, even as nearly a third of companies risked falling short of the EU’s upcoming plans to impose mandatory quotas for women on corporate boards.
Funds Europe: Political hostility to US ESG investing has dampened enthusiasm among American asset managers, while European counterparts maintain support for ESG-related shareholder proposals, according to Morningstar.
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