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Financial institutions have high exposure to companies with transition potential, central bank says
26 March 2024French financial institutions are highly exposed to corporates with the potential to meet the criteria of the EU sustainability taxonomy, research by the Banque de France says.
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CSDDD transition plan requirement 'little more than window dressing'
25 March 2024A requirement to disclose climate transition plans in the watered-down text of the Corporate Sustainability Due Diligence Directive (CSDDD) is "little more than window dressing" in the absence of a mechanism to force companies to implement the plans, it has been argued.
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EU releases biodiversity risk assessment framework
22 March 2024The European Commission has published a framework to help financial institutions better measure and quantify biodiversity risk.
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French companies sound alarm at 'greenwashing' in ESMA sustainability enforcement rules
22 March 2024The French Association of Large Companies (AFEP) has voiced concern that draft rules for regulators enforcing the disclosure of sustainability-related information will too strictly police perceived 'greenwashing' and be complex to apply.
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ECB says 18 banks face fines for failing to meet climate expectations
21 March 2024The European Central Bank (ECB) says 18 banks may face fines for failing to meet its expectations on climate and broader environmental risk management.
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S&P: Climate-related credit rating actions 'to grow'
21 March 2024Climate-related credit rating actions at corporate and infrastructure issuers doubled in number last year and are expected to continue to increase, S&P Global Ratings predicts.
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Canadian regulator demands financial institutions report in line with ISSB this year
21 March 2024Canada's largest banks and insurers must disclose how they are implementing a climate transition plan and conducting climate scenario analysis, under rules that have been updated to align with International Sustainability Board (ISSB) standards.
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ShareAction takes aim at banks this AGM season
21 March 2024The upcoming annual general meeting (AGM) season will be the "busiest yet" for ShareAction, as it plans to push the banking sector for more transparent climate policies.
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Commission to delay review of Green Asset Ratio for banks
18 March 2024The European Commission is to postpone a review of the much-maligned Green Asset Ratio (GAR) reporting indicator for banks, a key figure at the EU's executive arm has said.
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CSDDD agreed, in watershed moment, but is weakened to 'shadow of former self'
15 March 2024The EU passed a landmark sustainability reporting law which, although significantly weakened from previous versions, was described as "a watershed moment for corporate accountability".