The European Securities and Markets Authority (ESMA) has wrapped up a two-year supervisory effort into how asset managers across the EU are handling sustainability risks and disclosures, and while the overall verdict is “satisfactory,” the tone is clear that there’s still work to do.
Europe’s financial watchdogs are drawing a sharper line on how banks and insurers prepare for climate, social, and governance shocks, and they’re inviting everyone to weigh in.
The UK government has published exposure drafts of its proposed UK Sustainability Reporting Standards (UK SRS), marking a significant move toward aligning with the global baseline for sustainability disclosures developed by the IFRS Foundation’s International Sustainability Standards Board (ISSB).
In a move pitched as part simplification, part survival strategy, EU member states have agreed to rein in some of the most ambitious corporate sustainability rules on the books, at least for now.
At a time when financial leaders are juggling cyber threats, inflation worries, and geopolitical rifts, Denmark’s central bank governor Signe Krogstrup is asking them to keep one eye firmly on the horizon, because the climate risks aren’t going anywhere. Speaking at the central bank’s climate conference on June 19, Krogstrup didn’t sugarcoat the moment.
The Basel Committee on Banking Supervision has introduced a new voluntary framework designed to guide the disclosure of such risks by banks worldwide. This framework, which offers flexibility in its implementation, aims to enhance transparency around the potential financial impact of climate change on the banking sector.
The wave of ESG reporting triggered by the EU’s Corporate Sustainability Reporting Directive (CSRD) is sweeping across Europe, with Denmark leading the charge. But while Danish companies are ahead of the curve, a new analysis reveals that achieving full compliance remains an ambitious and complex goal, even for the early movers.