Australia’s mandatory climate reporting starts January 1, 2025, following the passage of the Treasury Laws Amendment (Financial Market Infrastructure and Other Measures) Bill. Royal Assent is expected soon, meaning entities will need to prepare for this new requirement. Under the new law, companies must conduct scenario analyses, evaluating both a low (1.5-degree) and high (2.5+…

The UN Conference of the Parties on Biodiversity (COP16), taking place in Cali, Colombia, will gather diverse actors to catalyze collective action to transform our relationship with the natural world. Setting a new global benchmark in accountability for biodiversity impacts, a major revision to the Biodiversity Standard — GRI 101 — published in January, which…

The U.S. Environmental Protection Agency(EPA) released a proposed update to the agency’s Recommendations of Specifications, Standards and Ecolabels for Federal Purchasing (Recommendations), which help federal government purchasers and other buyers utilize private sector standards and ecolabels to buy products that are more sustainable and climate-friendly and contain safer chemical ingredients. This is the first time…

The Financial Conduct Authority (FCA), the conduct regulator for financial services firms and financial markets in the UK, announced that it was pushing out requirements for asset managers to comply with some of the new “naming and marketing rules” for sustainability-related investment products to April 2025, to give more time for firms to meet the…

Africa faces an increasingly heavy toll from climate change with many countries having to spend up to 9% of their budgets battling climate extremes, a World Meteorological Organization (WMO) report said on 2nd September. Despite producing far lower greenhouse gas emissions than other continents, Africa's temperatures have risen more rapidly than the global average. African…

FTSE Russell has expanded its Fixed Income EU Climate Benchmark index series to include high-yield securities and emerging markets, aligning these with the 2015 Paris Climate Agreement. Launched in June 2024, the phase 2 indices introduce a broader array of bonds to cater to the growing demand for climate-aligned fixed income investments. These new indices,…

India is on a path to significantly expand its bioeconomy, with projections indicating growth from $130 billion in 2024 to $300 billion by 2030. This expansion is driven by the newly introduced Biotechnology for Economy, Employment and Environment (BioE3) policy, which aims to position India as a leader in sustainable development and bio-based industries. India’s…

The European Investment Bank (EIB) has taken another significant step towards sustainability by issuing a new EUR 5 billion Climate Awareness Euro Area Reference Note (EARN). This 10-year bond, due September 4, 2034, pays an annual coupon of 2.625% and was priced at 98.937%. This latest issuance, over seven times oversubscribed, highlights EIB’s pivotal role…

Plastic’s convenience has led to its widespread use, but the environmental costs are staggering. Every year, 400 million tonnes of plastic waste are generated worldwide, with 60% ending up in the environment or landfills. Our reckless plastic use and consumption has driven the world to generate approximately 400 million tonnes of plastic waste each year.…

A top U.S. banking regulator has found that major lenders are in the early stages of assessing and managing the risks climate change poses to their businesses, and that significant work is needed in some areas, three people familiar with the matter said. The Office of the Comptroller of the Currency conducted a review last…

As Climate Week NYC approaches, the global conversation on climate change is intensifying, and the need for effective action by all stakeholders is clear to see. As the enabler for transparency on sustainability impacts, GRI has an important role in the debate, as demonstrated by the new Climate Change and Energy Standards currently under development.…

EFRAG publishes its XBRL Taxonomy for ESRS Set 1, which enables the digital tagging of ESRS statements. In addition, EFRAG publishes the XBRL Taxonomy for Article 8 disclosures that the EC requested EFRAG prepare. The digital taxonomies enable the marking up ('tagging') of sustainability reporting in machine-readable XBRL format. EFRAG was tasked by the European…