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Items tagged with "ESG"

EU establish Sustainable Investment Terms

To encourage private investment in sustainable growth the EU Council has adopted a classification system aimed at creating a common language on environmental objectives across Europe. In order to reduce greenwashing and improve investor confidence in financial products labelled as ‘sustainable’, common, clear metrics through which to discuss environmental objectives are important. An EU wide […]

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Accountancy Europe supports EC Initiative to review Non-Financial Reporting

The European Commission (EC) are currently undergoing a review process, taking a fresh look at its Sustainable Finance Strategy and Non-Financial Reporting Directive in order to better deliver on its Green Deal policy objectives. This week Accountancy Europe have emphasised their support of this consultation, highlighting how the field experience of the 1 million professional accountants […]

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France Tackles Greenwashing

Last month France’s securities regulator, the Autorité des Marchés Financiers (AMF), introduced a new policy designed to help tackle greenwashing in asset management. In order to help ensure information communicated to investors is clear, accurate and not misleading, the policy consists of a set of minimum requirements for fund managers to meet in order to […]

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ESMA on ESG Enforcement Actions

The recent European Securities and Markets Authority (ESMA) annual report on enforcement of corporate disclosure demonstrates the increased attention paid by regulators to Environmental Social and Governance (ESG) disclosures. The report presents the 2019 activities of ESMA and European accounting enforcers when examining the compliance of financial and non-financial statements provided by European issuers. Enforcement […]

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ECB urges Climate Disclosure

Ahead of the UN summit in Glasgow this November, Christine Lagarde, President of the European Central Bank (ECB), recently urged companies and central banks to speed up climate risk assessment and improve environmental disclosures. Speaking at the launch of the finance agenda for the UN climate summit COP26, Lagarde spelled out the serious financial risks […]

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TCFD Support Grows

The Task Force for Climate-related Financial Disclosures (TCFD) recently announced a milestone of reaching more than 1,000 supporters globally – indicating a desire within a wide range of market participants to strengthen climate reporting. Increasingly, firms are accepting that climate risk is financial risk – and investor demand for high quality, comparable, accurate data on […]

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FRC to Assess Climate Reporting

Climate issues seem to be… well… hot. This week the UK’s Financial Reporting Council (FRC) announced a major review of how companies and auditors assess and report on the impact of climate change. The review will assess to what extent existing reporting requirements, including recommendations for companies to report in line with the TCFD framework, are […]

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EU: Expand XBRL Reporting to Include Climate Change Disclosure

On Tuesday, European Commission Executive Vice-President Valdis Dombrovskis gave a speech at a key IFRS conference setting out a broad vision for the future of corporate reporting, incorporating a number of important strands for the XBRL community.

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ESMA Commits to Stronger ESG Regulation

Earlier this month the European Securities and Markets Authority (ESMA) published its Strategy on Sustainable Finance. The strategy sets out how ESMA will place sustainability at the core of its activities by embedding Environmental, Social, and Governance (ESG) considerations into its work.

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FRC Release Climate Reporting Podcast

The UK’s Financial Reporting Council (FRC) has published a podcast discussing their recent report, which offered some practical guidance for best practice on climate-related disclosure. The FRC found that while investors support increased disclosure on climate-related risk, companies are frequently falling behind expectations. The report drew on the TCFD framework to structure practical guidance on […]

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