In a significant move towards environmental protection, the European Parliament has approved a groundbreaking directive on environmental crimes and corresponding sanctions. The directive, adopted on Tuesday with overwhelming support, introduces an expanded list of criminal offenses and penalties aimed at combatting illegal practices detrimental to the environment.
The Business Council of Australia (BCA) has voiced its support for a one-year delay in the implementation of mandatory climate reporting requirements. The council emphasizes the importance of continuous improvement in the quality of climate-related financial disclosures, aligning closely with international standards.
In anticipation of the first publication of transition plans mandated by the European directive on Corporate Sustainability Reporting (CSRD), the Autorité des marchés financiers (AMF), the French Financial Markets Authority, has published an educational guide. Developed by its Climate and Sustainable Finance Commission (CCFD), the guide delves into the intricacies of companies' climate transition plans, emphasizing the significance of short- and medium-term targets, resource allocation, and governance.
The European Council and Parliament have reached a provisional agreement on a groundbreaking proposal for a regulation governing environmental, social, and governance (ESG) rating activities. This regulatory initiative aims to bolster investor confidence in sustainable products, recognizing the crucial role ESG ratings play in shaping capital markets and fostering trust in sustainable investments.
In a strategic move to bolster environmental, social, and governance (ESG) initiatives, Deloitte has expanded its partnerships with Informatica and Workiva. This collaboration aims to provide clients with robust ESG implementation and data management capabilities, combining the strengths of Informatica's AI-powered Intelligent Data Management Cloud platform and Workiva's cloud-based regulatory reporting offering.
The European Central Bank (ECB) has revealed its comprehensive Climate and Nature Plan for the years 2024-2025. This plan signifies a proactive step, building upon the progress achieved since the ECB's climate agenda in 2022, and signals an expansion of efforts to address critical aspects of climate change and nature degradation.
The International Ethics Standards Board for Accountants (IESBA) has announced the launch of two Exposure Drafts (EDs), setting forth the first comprehensive suite of global standards on ethical considerations in sustainability reporting and assurance.