June 9, 2023 The European Parliament has voted in favour of significant new rules designed to reshape corporate practices and strengthen accountability for the environmental and social impacts of companies. The regulations will require companies to identify, address, and mitigate the effects of their activities and value chains on human rights and the environment. This…

June 8, 2023 Commercial Bank of Dubai (CBD.DU) is set to raise $500 million through a debut sale of green bonds, its first foray into the international debt markets since 2020 that got $1.4 billion in orders, a bank document showed on Wednesday. The five-year bonds will be used to finance projects eligible under CBD's…

June 8, 2023 The Inter-American Development Bank (IDB) has approved a loan to support the development of the green hydrogen industry and its derivatives in Chile. This operation seeks to help decarbonize the economy and generate new opportunities for the country’s productive development. The resources will be used to finance new projects in green hydrogen,…

June 7, 2023 Investment management company Aquila Capital has secured a 3 billion yen ($21.5 million) loan from Japan’s Ashikaga Bank for a solar power project in Japan’s Chiba prefecture, the company said in a statement on Wednesday. As Japan targets to have 36%-38% of its electricity from renewable sources by the end of this…

June 2, 2023 The UK Department for Business and Trade (DBT), in collaboration with the Financial Reporting Council (FRC), has issued a call for evidence to support the review of the UK’s non-financial reporting requirements. The review aims to ensure the UK’s non-financial reporting framework continues to meet the needs of investors, stakeholders, and the…

May 28, 2023 XBRL EU urges digital for sustainability disclosures at a meeting in Rome this week. At the very successful XBRL-EU conference in Rome earlier this week, the attendees heard a range of details about the upcoming implementation of the European Sustainability Reporting Standards (or ESRSs) via the CSRD, or Corporate Sustainability Reporting Directive.…

May 28, 2023 This week the European Parliament and Council negotiators agreed on the timeline and processes for establishing the European single access point (ESAP), a common data platform that will merge digital data crucial for capital markets, financial services, and sustainable finance from across Europe. The ESAP initiative was initially proposed by the EU…

May 21, 2023 The Securities and Exchange Commission (SEC) has proposed a new rule proposal Electronic Submission of Certain Materials Under the Securities Exchange Act of 1934; Amendments Regarding the FOCUS Report, which would introduce XBRL for certain reports. The new rule would require electronic filing and XBRL-based structured data for certain forms, including…

May 16, 2023 The Securities and Exchange Commission (SEC) published the draft Open-End Fund Taxonomy and taxonomy guide for public review. Files are available at https://www.sec.gov/structureddata/dera_taxonomies. Sample filings using the draft OEF taxonomy can be found at https://xbrl.sec.gov/oef/2023/oef23-samples-2023-05-02.zip. Comments must be received by June 5, 2023. To find out more details please visit : https://www.xbrl.us/

May 12, 2023 The US Securities and Exchange Commission (SEC) adopted welcome amendments that requires open-end funds (OEF) to prepare concise, visually engaging, iXBRL tagged annual and semi-annual reports for investors and shareholders. This week, the SEC took an important step towards the implementation of that rule with the publication of a draft taxonomy. Until…

May 12, 2023 Share buybacks are a significant chunk of US market demand for stocks, amounting to more than $1.25 trillion in 2022. Issuers use buybacks to return capital to shareholders, in some ways turning public markets upside down: traditionally companies come to stock exchanges to raise capital, not return it. They are also an…

In September 2022, the FCA sent a portfolio letter to benchmark administrators where the FCA highlighted the risk of poor disclosures for ESG benchmarks. High quality ESG benchmarks are important to support trust in the market for ESG products and the transition to a net zero economy. The FCA have now completed a preliminary review on…