Britain's financial watchdog has confirmed that its pioneering anti-greenwashing rule aimed at combating misleading environmental claims will come into full force from May 31. The move by the Financial Conduct Authority (FCA) marks a significant step in the global effort to ensure transparency and accountability in the rapidly growing sustainable investment market.
New York City's Comptroller, alongside trustees of the New York City Employees’ Retirement System, Teachers’ Retirement System, and Board of Education Retirement System (the Pension Systems), has secured agreements with three of North America's largest banks: JPMorgan Chase, Citi, and the Royal Bank of Canada. These agreements commit the banks to regularly disclose their ratio of financing for clean energy supply to financing for fossil fuel extraction, known as the Energy Supply Ratio, along with the underlying methodology.
The Securities and Exchange Commission (SEC) has announced a temporary halt in the implementation of its new climate disclosure rule as it engages in legal battles over its legality. This decision, disclosed on Thursday, comes as the SEC faces challenges in court regarding the enforcement of the measure.
The U.S. Environmental Protection Agency (EPA) has unveiled the final national pollution standards for passenger cars, light-duty trucks, and medium-duty vehicles, setting a new benchmark for climate action in the United States. These regulations, spanning model years 2027 through 2032 and beyond, promise to revolutionize the automotive industry while significantly curbing carbon emissions.
The Fifth Circuit Court of Appeals has issued an administrative stay of the Securities and Exchange Commission's (SEC) much-discussed climate disclosure rule. This rule, which was unveiled on March 6, 2024, aimed to compel public companies to provide enhanced disclosures regarding the risks they encounter due to climate change.
The European Union Council has reached a crucial agreement on the Corporate Sustainability Due Diligence Directive (CSDDD). This legislation, aimed at promoting responsible business conduct, marks a significant step forward in holding corporations accountable for their impacts on human rights.
The Sierra Club and the Sierra Club Foundation, represented by Earthjustice, have taken legal action against the Securities and Exchange Commission (SEC) over its recently finalized rule on climate risk disclosure. The lawsuit, filed in the U.S. Court of Appeals for the D.C. Circuit, contends that the SEC's final rule falls short of adequately addressing climate-related risks faced by public companies, consequently failing to provide investors with necessary information.