Michael Hurley

UK 'exploring value of' taxonomy after repeated delays

A UK government consultation to "explore the value of implementing a taxonomy" has been welcomed by commentators but has done little to dispel concerns that years of work on the proposal may still lead it to be ditched.

UK confirms plans to join EU in regulating ESG ratings providers

The UK government has confirmed it plans to regulate ESG ratings providers to ensure transparency, good governance, managing conflicts of interest, and proper systems and controls.

Taxonomy, ESG ratings and transition plans in raft of UK green finance measures

COP29 finance day: Harmonisation initiatives the highlight of underwhelming day

Multi-jurisdiction taxonomies and a push for harmonised transition plan rules stole the headlines, as finance proved a sticking point, Michael Hurley writes

COP29: Brazil publishes updated climate targets

IOSCO encourages regulators to clarify issuers' liability for transition plans

Standard setters and regulators have been "encourage[d]" to provide "markers on what would constitute forward-looking information" to show preparers of transition plans the extent of information they can provide without expecting to be sued.

Investors urge EU against delaying deforestation regulation

Institutional investors have urged the European Parliament to reject a request to delay the EU Deforestation Regulation, saying it would unfairly "disadvantage countries and companies that have moved promptly to prepare for the new requirements".

COP29: MUFG backs Canada-led blended finance initiative

Canada has launched a $1.5 billion blended finance 'platform' that aims to provide climate finance to climate projects in "up to" 25 emerging markets and developing economies, with backing from MUFG.

Climate disclosure 'stagnated' in anticipation of reporting rules, Australian regulator finds

Australian financial institutions' disclosure of climate-related risks has "stagnated" compared to previous years, a trend which the regulator suggests was due to organisations waiting for more clarity on greenwashing and disclosure rules.

COP29: IIGCC welcomes UK's updated NDC

The UK has announced it will target a reduction in greenhouse gas emissions of at least 81% by 2035, compared to 1990 levels, in a move an investor group said showed the UK could lead the world in attracting private climate finance.