Tagged: Sustainability
Final approval by the EU Parliament of the Corporate Sustainability Due Diligence Directive
Today, 24 April 2024, the Corporate Sustainability Due Diligence Directive (“CSDDD”) received the final green light from the European Parliament.
CSDDDSustainabilityNews regarding the Corporate Sustainability Due Diligence Directive
15 March 2024, the Committee of the Permanent Representatives of the Governments of the Member States to the European Union (“COREPER”) endorsed the Corporate Sustainability Due Diligence Directive (“CSDDD”) taking the directive one important step closer to finalizing the legislative process.
CSDDDSustainabilityESG KPI report 2024 by Invest Europe
Invest Europe has published an ESG KPI report covering data from 2022. Compared to their first edition published last year (covering data from 2021), which we touched upon in our previous Pulse update, there has been a 60% increase in the number of firms covered by the survey.
SustainabilityExposure Drafts on sustainability reporting standards for SMEs
The European Financial Reporting Advisory Group (“EFRAG”) has launched a public consultation on the Exposure Draft European Sustainability Reporting Standards for listed SMEs (“ESRS LSME ED”) and the Exposure Draft for the voluntary reporting standard for non-listed SMEs (“VSME ED”).
CSRDESRSSustainabilityDraft guidelines on Enforcement of Sustainability Information out for consultation
The European Securities and Markets Authority (“ESMA”) has sent draft Guidelines on Enforcement of Sustainability Information (“Guidelines”) out for consultation.
ESMASustainabilityFinal Report with amendments for RTS
The European Supervisory Authorities (EBA, EIOPA and ESMA) (together ESAs), published a Final Report with proposed amendments to the Commission Delegated Regulation (EU) 2022/1288 and the Regulatory Technical Standards (RTS) in December 2023.
Disclosure RequirementsESMARegulatory Technical StandardsSustainabilityChanges to the SFDR RTS proposed by ESA Final Report
The European Supervisory Authorities (EBA, EIOPA and ESMA) (together ESAs), published a Final Report with proposed amendments to the SFDR Delegated Regulation (Regulation (EU) 2022/1288) and the SFDR Regulatory Technical Standards (RTS) in December 2023.
Disclosure RequirementsESMARegulatory Technical StandardsSustainabilityNew green investment scheme consultation
On 21 December 2023, the Danish Financial Supervisory Authority published a draft executive order on a new green investment scheme for consultation.
Danish RegulationSustainabilityProvisional Agreement on the Corporate Sustainability Due Diligence Directive
A provisional agreement on the Corporate Sustainability Due Diligence Directive (CSDDD) has been concluded between the Council and the European Parliament on 14 December 2023.
CSDDDGovernanceRisk ManagementSustainabilityEU Green Bond Regulation enters into force
The EU Regulation (EU) 2023/2631 of the European Parliament and of the Council of 22 November 2023 on European Green Bonds and optional disclosures for bonds marketed as environmentally sustainable and for sustainability-linked bonds (the “EU Green Bond Regulation”) has been published in the Official Journal of the EU and enters into force 20 December 2023.
Disclosure RequirementsGovernanceSustainabilityTechnical screening criteria for remaining environmental objectives now published
The Environmental Delegated Act introduces technical screening criteria for economic activities substantially contributing to one of the remaining four environmental objectives.
SustainabilitySimplification and requirement reduction are key words in 2024 Commission Work Programme
On 17 October 2023, the EU Commission adopted their 2024 Commission Work Programme focusing mainly on strengthening EU’s competitiveness through reduction of burdens on businesses and rationalisation of reporting requirements.
GovernanceSustainabilityIntroduction of EU Taxonomy Stakeholder Request Mechanism
On 17 October 2023, the EU Commission and the advisory body, Platform on Sustainable Finance, introduced the EU Taxonomy Stakeholder Request Mechanism.
SustainabilityStatus on the EU sustainable finance framework
In June 2023 the European Commission published and adopted a sustainable finance package with measures to expand and strengthen the EU sustainable finance framework. This update provides a closer overview of those measures which are now subject to scrutiny by the European Parliament and the Council.
Regulatory Technical StandardsSustainabilityProposal for Danish implementation of CSRD out for consultation
On 13 October 2023, the legislative proposal for implementation of the Corporate Sustainability Reporting Directive (“CSRD”) and a number of appertaining executive orders went out for consultation.
CSRDSustainabilityConsultations on the implementation of SFDR
On 14 September 2023, the European Commission initiated two consultations on the implementation of SFDR. The consultations focus on, among others, the regulation’s useability and role in combatting greenwashing.
Disclosure RequirementsRegulatory Technical StandardsSustainabilityStatus on the CSDD Directive
On 13 September 2023, the Danish Corporate Governance Board published their annual account for 2022-2023. The account contains a status on the CSDD Directive which is still negotiated in the EU.
CSDDDSustainabilityMemo from the Danish Financial Supervisory Authority on periodic reporting
On 30 August 2023, the Danish Financial Supervisory Authority (“DFSA”) published a memo describing the requirements in SFDR art. 11 for periodic reporting.
ComplianceDisclosure RequirementsSustainabilityNew reports on the understanding of greenwashing
The progress reports are a result of a push from stakeholders requesting greater market integrity, investor protection and trusted environments for sustainable investments as sustainability has become an important competitive factor.
ESMASustainabilityEuropean Sustainability Reporting Standards have been adopted
On 31 July 2023 the European Commission adopted European Sustainability Reporting Standards (ESRS) which are mandatory standards for companies under CSRD to use when reporting on sustainability information.
CSRDESRSSustainability
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