Michael Hurley

Omnibus could have knock-on impact for EU climate benchmarks, observers say

Proposed cuts to sustainability reporting under the EU's Omnibus package could impact the data needed to populate EU climate benchmarks - particularly those focused on judging transition credentials, an investor suggested.

'Several negative impacts' on SFDR if taxonomy reporting made voluntary

Omnibus was 'copy-paste' of big business' demands for deregulation, NGO says

The EU Omnibus' rocky road

As negotiations on the Omnibus proposal begin, Michael Hurley presents an overview of the story so far

UK regulators abandon plans for diversity and inclusion rules

Lawmakers propose bill that would block CSDDD for US companies

A bill has been proposed by US lawmakers that would "prohibit certain US entities from being forced to comply with any foreign sustainability due diligence regulation", including the EU Corporate Sustainability Due Diligence Directive (CSDDD).

EFRAG mulls pivot from financial institution standards to guidance after Omnibus

The European Financial Reporting Advisory Group (EFRAG) is preparing to decide how it can help financial institutions report in line with the Corporate Sustainability Reporting Directive (CSRD) after the EU's Omnibus package withdrew the prospect of sector-specific standards.

EIOPA says Omnibus means it needs to delay insurers' sustainability risk standards

The EU's insurance supervisor has asked for a delay to its work on standards for insurers' sustainability risk disclosures, arguing that the proposed Omnibus package creates uncertainty that makes its work harder.

About 2,700 companies subject to California climate risk rule, Ceres estimates

Almost 2,700 companies are set to be subject to California rules that require them to say how climate change poses risks to their global operations, in alignment with the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD), Ceres has estimated.

UK's sustainability rules no barrier to investment in defence, FCA says

The UK's Financial Conduct Authority (FCA) has said its sustainability rules do not prevent investment in, or finance of, defence companies - days after a group of politicians urged changes to remove "unnecessary barriers" linked to financial institutions' ESG policies.