In the latest quarter, sustainable bond issuance reached $234 billion, representing a 20% decline year-over-year and a 19% decrease from the robust Q1 2024 performance. For the first half of 2024, total issuance amounted to $534 billion, down 8% from the same period in 2023, yet still significantly higher than in the second half of…

Market Dynamics Driving ESG Evolution Market forces, including shifting ESG regulations, U.S. anti-ESG sentiment, and increasing competition among ESG service providers, are reshaping asset managers and rating agencies’ ESG integration. BlackRock’s New Approach BlackRock, the world’s largest asset manager, is adjusting its engagement and voting strategies on climate issues. The firm’s CEO, Larry Fink, has moved away…

The number of plastic bags found on UK beaches has plummeted by 80% over the past decade, following the introduction of a mandatory fee for single-use carrier bags. According to the Marine Conservation Society’s (MCS) annual litter survey, volunteers discovered an average of one plastic bag every 100 meters of coastline surveyed last year, compared…

The International Accounting Standards Board (IASB) published a consultation document, proposing eight examples to illustrate how companies apply IFRS Accounting Standards when reporting the effects of climate-related and other uncertainties in their financial statements. The IASB developed these illustrative examples1 in response to strong demand from stakeholders, particularly from investors. They expressed concerns that information…

EFRAG released a report on the early implementation of the European Sustainability Reporting Standards (ESRS) among large EU companies. Supported by Boston Consulting Group (BCG), this study, titled ‘State of Play as of Q2 2024 | Implementation of ESRS,’ highlights preliminary practices and challenges faced by 28 large companies across various sectors. Double Materiality Assessment Companies…

The Global Reporting Initiative (GRI), one of the leading organizations promoting standardized ESG reporting, and the Taskforce on Nature-related Financial Disclosures (TNFD) announced the publication of a joint interoperability mapping resource, a new guide aimed at helping companies looking to report on nature-related and biodiversity risks and impacts using both the GRI Standards and TNFD…

Indian businesses are taking the lead in ESG reporting and prioritizing diversification efforts, outpacing their global counterparts, according to a recent study by DBS Bank. The comprehensive research, titled “Pivotal: How treasury and finance enable a new era of globalisation,” was conducted in partnership with the Financial Times Longitude and surveyed over 570 senior executives…

The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, has published an Opinion on the Sustainable Finance Regulatory Framework, setting out possible long-term improvements. ESMA acknowledges that the EU Sustainable Finance Framework is already well developed and includes safeguards against greenwashing. At the same time, ESMA considers that, in the…

The International Finance Corporation (IFC) and the IFRS Foundation have entered into a strategic partnership to strengthen sustainable capital markets by enhancing sustainability and climate reporting in emerging markets and developing economies (EMDEs). Announced during London Climate Action Week, this collaboration represents a significant step towards standardized and transparent reporting practices. “Today marks a pivotal moment…

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…

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…

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…