On 24 July 2024, the European Securities and Markets Authority (“ESMA“) published an opinion on the sustainable finance regulatory framework (the “ESMA Opinion“), which outlines the ESMA’s long-term vision for the functioning of the EU’s sustainable finance framework (the “Framework“). The ESMA Opinion builds on the findings of the ESMA’s progress report on greenwashing, published on 31 May 2023, and the European Supervisory…
The ESMA sets out its long-term vision on the functioning of the Sustainable Finance Framework
On 24 July 2024, the European Securities and Markets Authority (“ESMA“) published an opinion on the sustainable finance regulatory framework (the “ESMA Opinion“), which outlines the ESMA’s long-term vision for the functioning of the EU’s sustainable finance framework (the “Framework“). The ESMA Opinion builds on the findings of the ESMA’s progress report on greenwashing, published on 31 May 2023, and the European Supervisory…
The ESMA sets out its long-term vision on the functioning of the Sustainable Finance Framework
On 24 July 2024, the European Securities and Markets Authority (“ESMA“) published an opinion on the sustainable finance regulatory framework (the “ESMA Opinion“), which outlines the ESMA’s long-term vision for the functioning of the EU’s sustainable finance framework (the “Framework“). The ESMA Opinion builds on the findings of the ESMA’s progress report on greenwashing, published on 31 May 2023, and the European Supervisory…
The ESMA sets out its long-term vision on the functioning of the Sustainable Finance Framework
On 24 July 2024, the European Securities and Markets Authority (“ESMA“) published an opinion on the sustainable finance regulatory framework (the “ESMA Opinion“), which outlines the ESMA’s long-term vision for the functioning of the EU’s sustainable finance framework (the “Framework“). The ESMA Opinion builds on the findings of the ESMA’s progress report on greenwashing, published on 31 May 2023, and the European Supervisory…
The ESMA sets out its long-term vision on the functioning of the Sustainable Finance Framework
On 24 July 2024, the European Securities and Markets Authority (“ESMA“) published an opinion on the sustainable finance regulatory framework (the “ESMA Opinion“), which outlines the ESMA’s long-term vision for the functioning of the EU’s sustainable finance framework (the “Framework“). The ESMA Opinion builds on the findings of the ESMA’s progress report on greenwashing, published on 31 May 2023, and the European Supervisory…
BBVA Achieves Record $28 Billion Sustainable Finance Activity in Q2 2024
Spanish Bank BBVA announced that it achieved €26 billion (USD$28.5 billion) in sustainable finance mobilization in Q2 2024, a new record for the bank, driven by factors including growth in areas such as cleantech and renewable energy. According to BBVA, the bank is ahead of its goal to mobilize €300 billion in sustainable finance from 2018-2025. BBVA set an initial…
Companies Failing on Nature Reporting
WBA benchmark logs lacklustre progress ahead of COP16 – despite mounting regulations and guidance. New research has shown that major global companies are failing to assess and measure their impact on nature. Using data from 2022-24, the World Benchmarking Alliance’s (WBA) latest Nature Benchmark covered 816 companies across more than 20 sectors – including food, mining and apparel – with…
SFDR Revisions Cause Asset Manager Regulatory “Fatigue”
ESG-labelled funds are facing increasing pressure on several fronts, while Article 9 withdrawals suffer record levels. Concurrent changes on ESG fund regulation devised by the European Securities and Markets Authority (ESMA) and the European Commission have multiplied compliance challenges for asset managers and the wider industry. In May, the European Commission published a summary report on a three-month 2023 consultation…
EU Commission, ESMA Cause Asset Manager Regulatory “Fatigue”
ESG-labelled funds are facing increasing pressure on several fronts, while Article 9 withdrawals suffer record levels. Concurrent changes on ESG fund regulation devised by the European Securities and Markets Authority (ESMA) and the European Commission have multiplied compliance challenges for asset managers and the wider industry. In May, the European Commission published a summary report on a three-month 2023 consultation…
Glencore Abandons Coal Demerger at Investors’ Request
Company cites “evolving views on ESG” as a key reason behind the decision to keep its fossil fuel business. Commodity trader and miner Glencore has abandoned plans to spin off its huge coal business in response to pressure from investors, the company has said. The Anglo-Swiss group revealed the dramatic U-turn in a statement on Wednesday, saying 95% of investors…