The European Commission has published a comprehensive set of frequently asked questions (FAQs) on August 7, 2024. This initiative aims to provide clarity and reduce administrative burdens for companies navigating the complex landscape of sustainability reporting requirements.
Deloitte's 2024 "Sustainability Action Report" unveils a landscape of substantial progress in corporate sustainability initiatives, while also highlighting ongoing challenges in data quality and reporting. The report offers a detailed look at how companies are adapting to increased regulatory scrutiny and evolving stakeholder expectations around environmental, social, and governance (ESG) issues.
A recent report by Environmental Resources Management (ERM) has brought to light the prevalence of greenwashing within corporate America. According to the study, a staggering 68% of corporate leaders in the United States admit to engaging in greenwashing practices, raising significant concerns over the credibility of environmental, social, and governance (ESG) claims made by businesses.
In a victory for the Australian Securities and Investments Commission (ASIC), the Federal Court has imposed a $11.3 million ($7.4 million USD) penalty on Mercer Superannuation (Australia) Limited for misleading statements regarding the sustainability of its superannuation investment options. This ruling marks a pivotal moment as it is the first greenwashing case brought before the court by ASIC, setting a precedent for the financial services industry in Australia.
The International Accounting Standards Board (IASB) has announced two significant proposals aimed at improving financial reporting standards, particularly in relation to climate-related disclosures and reporting requirements for subsidiaries.
ESG (Environmental, Social & Governance) pressure is mounting from multiple fronts for organizations to implement ESG reporting. ESG has the momentum and force to become a significant measurement of an organization's integrity.
The European Securities and Markets Authority (ESMA) published an Opinion outlining its long-term vision for improving the EU's Sustainable Finance Regulatory Framework. This comprehensive document aims to enhance the framework's usability and coherence, focusing on facilitating investors' sustainable investment journey while supporting the effective functioning of the entire Sustainable Investment Value Chain (SIVC).