ESG

Germany has thrown its hat into the sustainability ring—though not quite in the way Brussels might have hoped. Just weeks before a pivotal federal election, and amid the collapse of its coalition government, Berlin is calling for a major rethink of the EU’s Corporate Sustainability Reporting Directive (CSRD). The proposals aim to give smaller companies a two-year reprieve from sustainability reporting requirements and eliminate sector-specific obligations entirely.

The European Banking Authority (EBA) has stepped up its efforts to help financial institutions navigate the complexities of Environmental, Social, and Governance (ESG) risks with the release of its draft Guidelines on ESG scenario analysis. These guidelines, now open for public consultation, offer a roadmap for institutions to adopt forward-looking approaches and test their resilience against a backdrop of increasingly volatile environmental and social challenges.

In a move that could redefine how banks prepare for a greener and more responsible future, the European Banking Authority (EBA) has released its Guidelines on the management of Environmental, Social, and Governance (ESG) risks. Published on January 9, 2025, the 151-page report lays the groundwork for eurozone financial institutions to embed sustainability into their DNA—not just for today but for decades to come.

As the dust settles from over 70 national elections worldwide, it has become clear that business leaders are no longer letting political outcomes dictate their climate strategies. A recent Workiva survey of 1,600 global executives underscores this shift. Despite the uncertainty surrounding regulatory frameworks, an overwhelming 85% of executives plan to push forward with climate disclosures regardless of election results or geopolitical developments.

Sustainability reporting has evolved from a nice-to-have to a must-do. For years, it’s been voluntary—a chance to show off green credentials. But now? Regulators and investors are upping the ante. KPMG’s 13th Survey of Sustainability Reporting couldn’t have landed at a better time. With mandatory reporting on the horizon for many countries, the survey offers a fascinating look at how global companies are preparing for this seismic shift—or not.

Last month, Deloitte released a report analyzing potential pathways to decarbonizing the steel industry. The report highlights the critical role of the value chain and collaboration in achieving decarbonization, alongside key hurdles and potential solutions for progressing toward net-zero emissions.

On December 10, Hong Kong took a big leap toward shaping its future as a global leader in green finance by unveiling a new roadmap for sustainability disclosure. The plan outlines how the city will guide publicly accountable entities (PAEs) toward adopting the International Financial Reporting Standards - Sustainability Disclosure Standards (ISSB Standards), setting a clear path to full implementation by 2028.