A bill introducing mandatory climate reporting for large and medium-sized companies passed the Australian Senate, marking a major step towards the establishment of a new climate risk disclosure framework in the country. The new proposed legislation would introduce climate-related reporting requirements broadly in line with the recently-released standards by the IFRS Foundation’s International Sustainability Standards…

The pilot of a new initiative to foster sustainable business practices by Micro, Small and Medium Enterprises (MSMEs) in the Philippines has successfully concluded. Part of a wider collaboration between GRI ASEAN and the Philippines Department of Trade & Industry (DTI), the Sustainable Practices and Reporting Kickoff (SPARK) saw targeted activities to support 15 SMEs…

The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, has published the translations in all official EU languages of its Guidelines on funds’ names using ESG or sustainability-related terms. The Guidelines will start applying three months after this publication, i.e. on 21 November 2024. Within two months of the date…

As noted in its Policy Statement on Consultation with Indian Tribes in Commission Proceedings, the Federal Energy Regulatory Commission (FERC) recognizes the unique relationship between the United States and Tribes as defined by treaties, statutes, and judicial decisions. FERC has committed to promote a government-to-government relationship between itself and federally recognized Indian Tribes. This guide…

Firefighters backed by 40 vehicles and a helicopter struggled to contain a wildfire on Monday on the southern coast of Portugal's island of Madeira that has burnt through more than 3,000 hectares (7,410 acres) of forest over the past five days. The blaze, which started on Wednesday in the rural area of Ribeira Brava, has…

An Argentine federal judge on Monday ordered a three-month suspension of deforestation in northern Chaco province, a rare step to protect one of the world's woodland ecosystems that is most rapidly being destroyed to make way for farmland. The unusual though not unprecedented move, announced officially, opens new tab on the public prosecutor's office website,…

EcoOnline’s latest survey reveals a significant shift in corporate America’s approach to climate action, with over 80% of companies proactively building net-zero programs—without waiting for legislation. This marks a departure from reactive compliance, showcasing a strong commitment to sustainability. Survey insights reveal that 73% of respondents see sustainability as a path to revenue growth, and…

A U.S. federal court has issued a ruling blocking new regulations in Missouri aimed at limiting the ability of financial professionals to integrate ESG considerations into their investment advice, finding that the regulation was vague and unconstitutional. The regulation, initiated by Missouri Secretary of State Jay Ashcroft, and passed in 2023, required securities firms and…

Governor Kathy Hochul announced a significant $200 million increase in funding for zero-emission school buses, the second wave from New York’s historic $4.2 billion Environmental Bond Act. This new funding, available through the New York School Bus Incentive Program (NYSBIP), supports school districts and bus operators in purchasing electric buses, installing charging infrastructure, and planning…

The World Bank has priced its largest-ever outcome bond, a $225 million Amazon Reforestation-Linked Bond, designed to tie financial returns directly to the success of reforestation projects in the Amazon. Unlike traditional carbon credit bonds, this innovative bond links returns to the generation of Carbon Removal Units (CRUs) from the reforestation of Brazil’s Amazon rainforest,…

Standard Chartered has unveiled an innovative ESG-linked Cash Account, designed to reward corporate banking clients who achieve significant environmental, social, and governance (ESG) goals. This new offering ties credit balance interest rates and fee pricing directly to a client’s ESG performance, encouraging businesses to set and meet ambitious targets. The key performance indicators (KPIs) chosen…

In their respective reports the ESAs reiterate the common high-level understanding of greenwashing as a practice whereby sustainability-related statements, declarations, actions, or communications do not clearly and fairly reflect the underlying sustainability profile of an entity, a financial product, or financial services. This practice may be misleading to consumers, investors, or other market participants. The…