Eye on ESG

Tracking the Transition to Sustainable Business and Finance

On May 28 2024, the Biden administration released the “Voluntary Carbon Markets Joint Policy Statement and Principles”.

The Joint Statement makes a number of important and supportive points in favor of the VCM, noting that:

  • High-integrity VCMs, as well as carbon credit markets more broadly, have the potential to support decarbonization efforts within the United

On April 24, 2024, the Loan Market Association (LMA) published its Sustainability Coordinator Letter. The publication of the LMA’s letter follows the LSTA’s February 2023 publication of its own Sustainability Structuring Agent Engagement Agreement Inserts. This Legal Update contains a comparative analysis of the LMA and LSTA’s documents, notes key similarities and differences between the

The European Securities and Markets Authority (ESMA), published a combined report on its 2023 Common Supervisory Action (CSA) and the accompanying Mystery Shopping Exercise (MSE) on marketing disclosure rules under MiFID II. ESMA, together with the National Competent Authorities (NCAs), states that marketing communications and advertisements generally comply with MiFID II requirements. Investment firms generally

On 16 May 2024, the UK Government published an implementation update on its development of economy-wide sustainability disclosure requirements (the “Implementation Update”). The Implementation Update, which the UK Government committed to publishing in its 2023 Green Finance Strategy (which you can read more about here), discusses:

  • its endorsement of the IFRS Sustainability Disclosure Standards;
  • On 14 May 2024, the European Securities and Markets Authority (“ESMA”) published its final report on “Guidelines on funds’ names using ESG or sustainability-related terms” (the “Guidelines”). The Guidelines aim to provide fund managers with clear and measurable criteria to assess their ability to use ESG and/or sustainability-related terms in fund names, thereby

    The UK Competition and Markets Authority (“CMA”) has announced that three fashion retailers have signed voluntary undertakings to ensure that consumers have a clearer idea of how green their clothes really are. At the end of March 2024, ASOS, Boohoo and George at Asda committed to only make green claims about their products that are

    On 23 April 2024, the UK’s Financial Conduct Authority (“FCA”) published its “Finalised non‑handbook guidance on the Anti‑Greenwashing Rule (FG/24/3)” (the “Guidance”). The FCA has published the Guidance to help in-scope firms understand and comply with the anti-greenwashing rule, which will come into effect on 31 May 2024.

    In March 2023, the European Commission proposed the Green Claims Directive (the “Directive”), which aims to tackle greenwashing (read our previous update on the Directive here).  On 12 March 2024, the European Parliament voted in favour of the Directive at first reading. This move further complements the EU’s commitment to empowering consumers, ensuring fair