Texas Attorney General Ken Paxton announced that the state has banned UK-based bank Barclays from participating as an underwriter in Texas’ municipal bond market, following the company’s failure to respond to requests for information over its ESG policies. The announcement marks the latest in a series of moves in an ongoing anti-ESG movement by Republican politicians in the U.S. Texas…
Global standards-setting board the International Ethics Standards Board for Accountants (IESBA) announced today the release of its new proposed standards for ethical considerations in sustainability reporting and assurance, aimed at mitigating greenwashing and elevating the quality of reported sustainability information. The new IESBA proposals include the exposure drafts “International Ethics Standards for Sustainability Assurance” (IESSA), setting out a framework of…
In the modern business landscape, where Environmental, Social, and Governance (ESG) considerations continue to mature, evolving the ESG reporting and performance journey is more than a corporate responsibility, it’s a strategic imperative. Jim Pelletier of Wolters Kluwer TeamMate examines the opportunities. The ESG journey often begins by navigating a labyrinth of data, standards, and regulatory requirements. Many organizations are focused…
The European Council announced today that it has adopted new legislation aimed at phasing down highly potent greenhouse gases including fluorinated gases (F-gases) and ozone depleting substances (ODSs), marking the last major step to the implementation of the new regulation. According to a statement by the European Commission welcoming the announcement, the new rules will result in the elimination of…
Issuance volumes of green, social, sustainability and sustainability-linked (GSSS) bonds grew modestly in 2023 to $946 billion from $925 billion in 2022, maintaining a record 14% share of overall bond issuance, with continued growth in Europe and Asia Pacific markets offset by another year of sharp declines in North America, according to a new report from Moody’s Investors Service. For…
Climate tech startup CHOOOSE announced today the launch of a new partnership with energy giant bp, aimed at enhancing its decarbonization solutions for the aviation industry, and helping airlines to meet their sustainability obligations. As part of the partnership, bp is making a strategic investment in CHOOOSE. Founded in 2017, Norway-based CHOOOSE provides a software-as-a-service (SaaS) platform enabling companies to build…
Covid-19 has fundamentally altered the global paradigm, and its impacts are evident practically in every facet of our lives. The growing interest in social risk and human capital management, and enthusiasm for ESG and socially responsible investing, has increased worldwide. In 2023, the majority of assets managed in Europe, comprising approximately €7trn out of a total of €12trn euros, were…