The Securities and Exchange Commission (the “SEC”) has adopted new rules that require public companies to disclose substantial information about the material impacts of climate-related risks on their business, financial condition, and governance (the “Final Rules”). The SEC says that “climate-related risks, their impacts, and a public company’s response to those risks can significantly affect
Oliver Williams
Oliver Williams is an associate in the Banking & Finance practice of the London office. He is also an active member of the firm’s Global ESG Group.
HEY GEN AI: HOW DO YOU SOLVE A PROBLEM LIKE GREENWASHING?
First published in the Financial Times’ Banking Risk & Regulation, the article by Cail Wyn Evans and Oliver Williams explores the adoption of GenAI to identify greenwashing.
Continue reading at Mayerbrown.com.
EU lawmakers agree on proposal to regulate ESG ratings providers
On 5 February 2024, the Council of the EU and the European Parliament reached a provisional agreement for a regulation on ESG rating activities (the “Proposed EU Regulation“). The Proposed EU Regulation differs in certain respects from the version that was agreed upon by the Council of the EU in December 2023.
The…
COP28 insights mini-series
Our mini Q&A series followed COP28, providing you with a quick and easy way to see how the discussions evolved. Our coverage highlighted significant and recent developments from a legal perspective, allowing you to assess the impact of these on your business.
View the mini Q&A series at Mayerbrown.com.
Council of the EU agrees on proposal to regulate ESG ratings providers
On 20 December 2023, the Council of the EU reached an agreement on its negotiating mandate on a proposal for a regulation on ESG ratings (the “Proposed EU Regulation“). This builds on the European Commission’s proposal, which was published on 13 June 2023.
The EU’s desire to regulate ESG rating agencies is a response to increasing concerns from a variety of stakeholders about the reliability, comparability and transparency of ESG ratings and the data behind these ratings.Continue Reading Council of the EU agrees on proposal to regulate ESG ratings providers
COP28 Insights Mini-Series – Part 2
As we alluded to in our pre-COP video (which you can watch here), the first Global Stocktake under the Paris Agreement will be concluded at COP28. Although it is an important milestone in terms of establishing a comprehensive picture of what has been achieved since the Paris Agreement was entered into and what remains to be done, discussions appear to be fraught. Clearly, an exercise of this kind allows for the re-opening of old wounds around substantive matters such as how to share responsibility for mitigation efforts. On this theme, at the opening ceremony, UNFCCC Executive Secretary, Simon Stiell, urged participants to signal the decline of the fossil fuel industry. Current expectations are that decisions in this regard will be in the context of the Global Stocktake. Continue Reading COP28 Insights Mini-Series – Part 2
COP28 Insights Mini-Series – Part 1
This mini Q&A series will follow COP28, providing you with a quick and easy way to stay informed as the discussion evolves. Our coverage will highlight significant and recent developments from a legal perspective, allowing you to assess the impact of these on your business.
In this video, Tim Baines (Environmental partner, London, and founding…
UK Sustainability Disclosure Framework – FCA publishes final rules on Sustainability Disclosure Requirements and investment labels
On 28 November 2023, the UK’s Financial Conduct Authority (“FCA“) published its “Sustainability Disclosure Requirements (“SDR“) and investment labels” policy statement (PS23/16) (the “Policy Statement“). The Policy Statement introduces a set of new rules aimed at tackling greenwashing, including investment product sustainability labels and restrictions on how terms…
ESMA publishes explanatory notes on the definition of “sustainable investments”, “do no significant harm” and the use of estimates in European sustainable finance regulation
The European Securities and Markets Authority (“ESMA“) has today published three useful explanatory notes covering key topics of the European sustainable finance framework, namely: a) the definition of “sustainable investments”; b) the application of do no significant harm (“DNSH“) principle; and c) the use of estimates.
The explanatory notes set out…
2023 has been the year of the taxonomy
Our international ESG team has been keeping an eye on what’s going on with regards to green taxonomies. With so much activity already this year, we summarize some of the key developments below.
EU
We recently published this reminder of the EU’s taxonomy framework. Our publication is particularly relevant to non-EU groups with large subsidiaries…