ESG

AI risks 'surging for financial institutions', finds RepRisk

Financial institutions expect the adoption of artificial intelligence (AI) to pose growing business conduct risks to their portfolios, according to a new report.

EU banks to be quizzed on climate-related 'financial turmoil' in stress test

EU banks are to be asked to report their exposure to climate-related physical and transition risks as part of an EU-wide stress test for the first time, the European Banking Authority (EBA) revealed.

Permira makes 'transformative investment' in CDP, as it becomes 'commercial entity'

Private equity giant Permira has invested an undisclosed sum in CDP, as the disclosure platform transforms from non-profit to a for-profit organisation.

Forestry industry captured GHG Protocol process, outgoing advisor alleges

Business interests unduly influenced the Greenhouse Gas (GHG) Protocol standard-setting process, a member of its independent standards board alleged in a letter announcing his resignation.

Better capex data is not a 'nice to have' for investors, webinar hears

While corporate capital expenditure (capex) data offers investors "a clear signal of low-carbon transition credibility", investors are increasingly demanding better data, an Environmental Finance webinar heard.

'Concerning CSDDD delays' undermine investor confidence, EU told

Implementation guidance for the EU's Corporate Sustainability Due Diligence Directive (CSDDD) is urgently needed to uphold business and investor confidence in the bloc, academics and lawyers told the EU in an open letter.

French investors devise framework to tackle 'engagement washing'

A group of French investors has devised a framework to judge the effectiveness of engagement with companies, which they claim can help mitigate the risks of 'engagement washing'.

FCA proposes cuts to UK financial institution climate reporting rules

UK financial institutions would have to report less information on climate-related risks under proposals by their regulator to replace rules based on the Task Force on Climate-related Financial Disclosures (TCFD) recommendations.

Singapore key testing ground for ISO transition plan rules, Fidelity says

Transition planning expectations set by Singapore's financial regulator will be a key test of the world-first international transition plan standard, according to Fidelity International.

Up to 450 US companies to report impacts under non-EU ESRS, says EFRAG

As many as 450 US companies are set to be in scope of EU rules that will require them to report their sustainability impacts, according to estimates by the European Financial Reporting Advisory Group (EFRAG).

Exemption for asset managers in ESRS 'creates a reporting vacuum'

The EU risks creating a "reporting vacuum" that undermines investors' data needs if it proceeds with a proposal to exempt asset managers' reporting under the Corporate Sustainability Reporting Directive (CSRD), observers warned.

Exchanges lament 'fragmented sustainability regulation'

Stock exchanges have called for regulators to introduce equivalence regimes to urgently address "fragmentation" it says is the result of divergent sustainability rules.

Brazil revokes mandatory sustainability reporting for listed companies

'TISFD framework could face same double-materiality challenges as TNFD'

The knotty problem of 'double materiality' could prevent the creation of a standard for social data, according to one data provider.

SEC cites EU, ISSB 'challenges' among reasons for revoking climate rules

The US Securities and Exchange Commission (SEC) cited "challenges faced by other climate-risk reporting regimes" including in the EU's among reasons for proposing to revoke in full its own rules.