In a significant policy development for the automotive sector, the Council of the European Union has officially endorsed a key amendment to the CO₂ emissions regulations for new passenger cars and vans. The change introduces a three-year averaging rule, allowing manufacturers to meet their 2025 emissions targets based on the average performance over 2025, 2026,…

In a critical move for global ocean conservation, world leaders recently convened in New York to advance the Agreement on the Conservation and Sustainable Use of Marine Biological Diversity of Areas Beyond National Jurisdiction—commonly known as the BBNJ Agreement. Hailed as one of the most significant environmental accords in recent history, the BBNJ Agreement seeks…

The European Securities and Markets Authority (ESMA) has published its long-anticipated draft Regulatory Technical Standards (RTS) under the newly adopted EU ESG Ratings Regulation, marking a significant step toward increased transparency, accountability, and consistency in the ESG ratings landscape. The draft rules, released for public consultation, aim to strengthen the integrity and reliability of ESG…

In a significant development for sustainability reporting, the International Sustainability Standards Board (ISSB) has released an Exposure Draft proposing targeted amendments to IFRS S2 Climate-related Disclosures. These changes are designed to support smoother implementation while maintaining the integrity and usefulness of disclosed information for investors. Focus on Practicality Without Compromising Transparency The proposed amendments reflect…

Financial services have a pivotal role to play in addressing the world’s most pressing sustainability challenges, according to a new article published on Medium. The piece underscores how financial institutions, by embedding impact considerations and due diligence into their decision-making processes, can influence businesses across industries to adopt more responsible and sustainable practices. By leading…

In a significant regulatory development, the Canadian Securities Administrators (CSA) has announced a pause on the introduction of new mandatory climate-related and diversity disclosure requirements. The decision comes amid ongoing global economic uncertainty, with the CSA citing a renewed focus on maintaining market competitiveness and economic resilience. While the rollout is on hold, companies are…

The IFRS Foundation, in collaboration with the Inter-American Development Bank (IDB) and IDB Invest, has announced a landmark strategic partnership to promote the widespread adoption and implementation of the IFRS Sustainability Disclosure Standards across Latin America and the Caribbean. This regional initiative is designed to accelerate the integration of globally recognized sustainability reporting frameworks into…

The European Union has launched a bold five-year initiative to drive sustainability and energy efficiency across key product sectors, as part of its broader green transition agenda. The new roadmap, released on Wednesday under the Ecodesign for Sustainable Products Regulation (ESPR), aims to enforce stricter standards for durability, repairability, and environmental performance between 2025 and…

The International Finance Corporation (IFC), the private sector arm of the World Bank Group, has officially launched a generational review of its Sustainability Framework — a landmark update that will shape the future of environmental and social (E&S) standards across emerging markets. Influencing more than $4.5 trillion in financial flows globally, the IFC framework serves…

Europe’s Hottest Year on Record: 2024 Brings Unprecedented Heat, Floods, and Human Impact Europe endured its hottest year ever recorded in 2024, marked by record-breaking heatwaves, widespread flooding, and escalating climate damages, according to the European State of the Climate 2024 report released by the Copernicus Climate Change Service (C3S) and the World Meteorological Organization…

The United Nations Development Programme (UNDP) and the German Federal Ministry for the Environment, Nature Conservation, Nuclear Safety and Consumer Protection (BMUV) have announced new funding support for the International Sustainability Standards Board (ISSB)’s Nature-related Disclosure Projects. The initiative, backed through BMUV’s International Climate Initiative (IKI), represents a significant expansion of the ongoing partnership between…

In a major move to ease compliance and promote sustainability, the European Commission has introduced new guidance and simplification measures to support the effective implementation of the EU Deforestation Regulation (EUDR), which comes into force at the end of 2025. The updated guidance is designed to reduce the administrative burden on companies and ensure a…