Sustainable finance

Sustainable finance

Sustainable finance—content

Content on sustainable finance in this subtopic includes the following:

An introduction to sustainable finance

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Sustainable finance and ESG—overview—provides details on climate change and sustainability issues facing the financial sector. It provides an introduction to the area, setting out why climate change and sustainability is such a hot topic and explains how that has affected the financial sector especially when dealing with risk and financial stability. The Practice Note provides information on the global and European policy and legislative initiatives in this area, such as the Paris Agreement 2015, Sustainable Development Goals (SDGs), Principles for Responsible Investment (PRI), Principles for Responsible Banking (PRB), Task Force on Climate-related Disclosures (TCFD), Regulation (EU) 2019/2088 on sustainability-related disclosures in the financial services sector (SFDR), Regulation (EU) 2020/852 on the establishment of a framework to facilitate sustainable investment and amending Regulation (EU) 2019/2088 (Taxonomy Regulation) and Regulation (EU) 2019/2089 amending Regulation (EU) 2016/1011 as regards EU climate transition benchmarks, EU Paris-aligned benchmarks and sustainability-related disclosures for benchmarks (Low Carbon Benchmark Regulation). Policy developments, alongside regulatory and legislative measures in the UK level are also covered, as well as developments from

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Latest Environment News

Sustainable finance and ESG weekly round–up—21 November 2024

This week's edition of the Sustainable finance and ESG weekly round-up from the Finance Group includes: (1) ICC issues guidance on successful Carbon Pricing, (2) COP29 round up, and (3) ESAs issue ‘Fit-For-55’ climate scenario analysis results.

ECHA updates progress on PFAS restriction proposal evaluation

The European Chemicals Agency (ECHA) has issued a progress update on the evaluation of the per- and polyfluoroalkyl substances (PFAS) restriction proposal. ECHA and five European countries are reviewing over 5,600 comments received during consultation, identifying additional uses for assessment, and considering alternative restriction options beyond a full ban. The agency is evaluating the proportionality of these options for specific sectors, such as batteries and fuel cells, to inform the ongoing scientific committee evaluations.

Environment weekly highlights—21 November 2024

This week's edition of Environment weekly highlights includes: analysis on the consultation on expanding tax conditionality to new sectors, the case of Smallbrook v BCC, considering the tension between proposals seeking to reuse and repurpose buildings and those seeking to demolish and rebuild them and will be of relevance to those involved in regeneration projects which consider the two alternatives, and what businesses need to know about ASA, AI and greenwashing. It also covers developments at the 29th Conference of the Parties of the United Nations Framework Convention on Climate Change (COP29), the Office for Environmental Protection (OEP) and Green Alliance (GA) being granted permission to intervene in the appeal of R (Rights Community Action Ltd) v the Secretary of State for Housing, Communities and Local Government [2024] EWHC 1693 (Admin) and the launch of the Global Clean Power Alliance at G20 summit. In addition this week, the Department for Energy Security and Net zero (DESNZ) has announced of plans to introduce legislation aimed at restricting the future licensing of new coal mines in the UK the Office for Environmental Protection (OEP) has launched an investigation into the legality of the Department for Environment, Food and Rural Affairs (Defra)’s Statutory Guidance on applying the Farming Rules for Water, , the Department of Agriculture, Environment and Rural Affairs (DAERA) Minister, Andrew Muir, has announced an independent review of environmental governance in Northern Ireland, Defra has announced an update on the implementation of the Deposit Return Scheme (DRS) for drinks containers, reaffirming its commitment to launching the DRS across England, Scotland, and Northern Ireland in October 2027 and the Environment Agency (EA) has launched a consultation titled ‘River basin planning: working together 2024’, as the first consultation in the process of reviewing and updating river basin management plans (RBMPs) for 2027.

Prime Minister launches Global Clean Power Alliance at G20 summit

The Prime Minister has launched the Global Clean Power Alliance at the G20 Summit in Rio de Janeiro, Brazil, with 12 countries, including Brazil, Australia, Barbados, Canada, Chile, Colombia, France, Germany, Morocco, Norway, Tanzania, and the African Union, signing up to its inaugural mission. The US and the EU will also partner with the UK on this initiative. The Alliance aims to expedite the global clean energy transition by uniting developed and developing nations to meet COP28 commitments to triple renewable energy and double energy efficiency. It will have ‘Missions’ to address critical energy transition challenges, starting with a ‘Finance Mission’, co-chaired by Brazil, which seeks to unlock private finance for developing countries.