The International Finance Corporation (IFC) and the IFRS Foundation have formed a strategic partnership to enhance sustainability and climate reporting in emerging markets and developing economies (EMDEs). Announced during London’s Climate Action Week, this collaboration aims to standardize and improve transparency in sustainability reporting. The partnership will promote the implementation of IFRS Sustainability Disclosure Standards…

Canada has amended the Competition Act to combat greenwashing, imposing strict requirements for businesses to substantiate their environmental claims. Effective June 20, these regulations introduce significant penalties for non-compliance, including hefty fines and private litigation starting in June 2025. Companies must urgently review their environmental claims and implement robust compliance programs to mitigate risks. This…

In a historic move, Denmark is set to introduce the world’s first CO2 tax on agricultural emissions, specifically targeting livestock. This landmark policy, achieved through broad agreement among farmers, industry, and environmental groups, aims to significantly reduce greenhouse gas emissions. The tax, beginning in 2030, will gradually increase by 2035, with revenues dedicated to supporting…

Maersk has celebrated the launch of its first low greenhouse gas emission warehouse in Taulov Dry Port, Denmark. This groundbreaking facility, constructed in less than two years, represents a significant step towards Maersk’s goal of achieving net-zero CO2 emissions by 2040. Built to BREEAM Excellent standards, the warehouse features zero direct emissions, electrified equipment, solar…

The European Central Bank (ECB) has unveiled its second set of climate-related financial disclosures, revealing a noteworthy decline in carbon emissions from its monetary policy portfolios. Key drivers include the Eurosystem's tilting framework and issuers' improved carbon efficiency, with one-fifth of reductions attributed to reinvestments favoring better climate performers. Expanded disclosures now encompass 99.7% of…

The International Sustainability Standards Board (ISSB) has announced significant strides in harmonizing sustainability disclosure through strategic partnerships and a new two-year work plan. Key collaborations include the Transition Plan Taskforce, GHG Protocol, CDP, Taskforce on Nature-related Financial Disclosures, and Global Reporting Initiative. These efforts aim to streamline sustainability reporting, ensuring investors receive high-quality, comparable information.…