ESG

A new survey by PwC reveals that less than half of companies required to report under the EU’s Corporate Sustainability Reporting Directive (CSRD) in 2024 are fully confident in their ability to meet the directive’s ambitious sustainability reporting standards. Despite the widespread recognition of the directive's significance, just 42% of respondents from large companies required to report on sustainability by next year feel fully prepared. For companies due to report the following year, that confidence drops to a mere 14%.

German companies are eager to lead the way in global climate protection but are running into a familiar roadblock: unreliable policies and patchy incentives. That’s the recurring theme of the AHK Climate Protection Compass 2024, a report from the German Chamber of Industry and Commerce (DIHK) and the German Chambers of Commerce Abroad (AHKs).

A significant transformation is taking place in corporate reporting. The International Sustainability Standards Board (ISSB) has introduced new standards that go beyond traditional financial metrics, challenging companies to provide a more comprehensive view of their sustainability impact.

The Council of the European Union has adopted a new regulation today to oversee Environmental, Social and Governance (ESG) rating activities, following a similar move by the UK government earlier this month to bring these influential metrics under regulatory supervision.

The Hague Court of Appeal delivered its judgment last Tuesday in the closely watched appeal between Shell and Friends of the Earth Netherlands (Milieudefensie). While the court reaffirmed that Shell is responsible for reducing its carbon emissions, it concluded that the company should not be bound by a specific reduction rate.

The UK government has recently unveiled draft legislation to regulate providers of these influential metrics. The proposal, which would place ESG ratings firms under the oversight of the Financial Conduct Authority (FCA), reflects growing concerns about transparency and accountability in an industry that increasingly shapes global investment decisions.

A new report from EY reveals a troubling disconnect between corporate climate action and the urgent need to combat climate change. The 2024 EY Global Climate Action Barometer found that while the quality and coverage of climate-related disclosures have improved, the pace of corporate action is still not sufficient to avoid the looming climate crisis. As global temperatures soar, companies worldwide continue to fall short of the necessary targets outlined in the 2015 Paris Agreement.