Policy

Nature risks bigger threat to the economy than Global Financial Crisis, warns GFI

Nature risks could cause more damage to the UK economy than the Global Financial Crisis, the Green Finance Institute has said, warning that large UK financial institutions are also not doing enough to mitigate the risks in their portfolio.

ISO developing standard for financial institution transition plans

'Historic day' as EU CSDDD approved

Rules to require large companies active in the EU to report on the sustainability of their supply chains and make best efforts to implement a climate transition plan have been approved, in what was labelled an "historic day".

Taxonomy users told to get creative to maximise its transition planning potential

The EU taxonomy of sustainable activities can help formulate climate transition plans in ways it is currently not being widely used, according to members of a European Commission-mandated expert group.

ISSB to work on biodiversity disclosures

The International Sustainability Standards Board (ISSB) will launch a research programme on biodiversity disclosures, with a view to potentially working on a standard.

FCA confirms start date for anti-greenwashing rule

Financial services companies in the UK will be bound by anti-greenwashing rules from June, the Financial Conduct Authority (FCA) confirmed as it issued further guidance.

AUD80trn investors back 'essential' Australian climate reporting bill

Governments urged to make nature transition plans mandatory

Governments have been urged by Finance for Biodiversity to make nature transition plans and disclosures mandatory for the financial sector to meet the goals of the Global Biodiversity Framework (GBF).

Europe needs more green securitisations, says head of French central bank

'Green securitisations' could be key to unlocking "several hundred billion euros a year" for the energy transition - helped by a common European issuance platform of such instruments, the head of the French central bank has said.

BoE suggests ways financial institutions can build on climate scenarios

Financial institutions can improve the relevance of results from climate scenario modelling by 'extending' them to incorporate data from sources such as building Energy Performance Certificates (EPC) ratings, according to research published by the Bank of England.

The UK's SDR has overlooked 'ethical' funds

The UK's Sustainability Disclosure Requirements (SDR) should create an additional label for 'ethical' funds, an asset manager has argued.

EFRAG proposes reducing 'circular economy' ESRS datapoints

The European Financial Reporting Advisory Group (EFRAG) has revealed it will vote this week on proposals to reduce the number of individual datapoints companies will disclose against under the Corporate Sustainability Reporting Directive (CSRD).

SBTi regrets 'misinterpretation' over offsets statement

The Science-Based Targets Initiative (SBTi) has sought to take the heat out of the furore surrounding its change of stance towards offsets, arguing its announcement was misinterpreted.

Mandatory plastic disclosure takes centre stage in treaty negotiations

Mandatory plastic disclosures for the financial sector could be one step closer as negotiations restart on a global plastics treaty, but the market has lamented the slow progress.

US launches task force that will study CBAM-style rules

The US government has established a White House Climate and Trade Task Force to study ways it can tackle "carbon leakage, carbon dumping, and embodied carbon in general" and draw lessons from the EU's Carbon Border Adjustment Mechanism (CBAM).