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
On 3 June 2024, the Asia Pacific Loan Market Association (“APLMA”) published its set of “Model Provisions for Green Loans” (“Model Provisions”), following the publication of the “Draft Provisions for Sustainability-Linked Loans” by the London-based Loan Market Association (“LMA”) a year earlier in May 2023. The markets expect that the Model Provisions will bring some clarity into the classification of green loans going forward.Continue Reading APLMA publishes Model Provisions for Green Loans
On 30 March 2023, the UK Government published an updated Green Finance Strategy (the “Strategy“). The Strategy, which updates the UK’s 2019 Green Finance Strategy, outlines how “continued UK leadership on green finance will cement the UK’s place at the forefront of this growing global market, and how we will mobilise the investment needed to meet our climate and nature objectives“.Continue Reading The future of green finance in the UK: UK Government publishes updated Green Finance Strategy
On 23 February 2023, the Asia Pacific Loan Market Association, Loan Market Association and Loan Syndications and Trading Association jointly published updates on the Green, Social and Sustainability-Linked Loan Principles (the “Principles”) together with their supporting guidance documents (the “Guidance”).
All transactions completed prior to 9 March 2023 will be exempted from following the updated
Mining companies are closely linked to the energy transition, both as businesses for which new requirements apply and as suppliers of critical minerals used to produce electric vehicles batteries, solar panels and wind turbines, among other products. In this Legal Update, we discuss emerging climate change-related guidelines and requirements, give examples of how mining companies
Hong Kong’s Financial Secretary, Paul Chan, delivered the 2023-24 budget on 22 February 2023 with the promotion of a green economy, sustainable development and China’s “3060 Dual Carbon Targets” at the forefront.
He laid out his vision to establish Hong Kong as a leading global green technology and financing hub.
Continue reading at Mayerbrown.com.
COP27 has now come to a close. Against the global backdrop of political and economic turbulence, many questions were asked as to what could realistically be expected as outcomes of COP27. We now have the answers to those questions.Continue Reading COP27 Postscript – much ado about nothing?
We are half way through COP27, so (disregarding the intersessionals that will take place during 2023), the negotiations will “soon” start to focus on Dubai, the venue for next year’s COP28 summit. Who knows how much progress will be made before then. One point to note is that COP27 is more of an “implementation” COP, rather than one with a more grandiose task, such as ramping up climate ambition.Continue Reading Observations from the COP27 Halfway Point
On May 12, 2022, Singapore’s Green Finance Industry Taskforce (GFIT) published a second consultation paper on its proposed taxonomy for Singapore-based financial institutions (“Singapore Taxonomy”), which aims to provide a common framework for classification of economic activities upon which financial products and services can be built and combat greenwashing by setting
The European Union’s recent passage of its Sustainability Financial Disclosure Regulation marks yet another milestone in the progression of ESG matters. In a new article in The Secured Lender, we review this regulation and related ESG disclosure requirements, together with other notable ESG developments out of Japan and the United States, and discuss their