The Australian Senate recently passed a groundbreaking bill mandating climate-related financial disclosures for large and medium-sized companies. This legislation marks a significant milestone in Australia's journey towards establishing a comprehensive climate risk disclosure framework.
The latest annual benchmark study on environmental, social, and governance (ESG) policies and compliance conducted by Corporate Counsel in partnership with Morrison Foerster has revealed several notable trends in how organizations and their legal departments are approaching ESG.
The Securities and Exchange Commission is firmly asserting its authority to require public companies to disclose information about their climate-related risks and greenhouse gas emissions.
The European Commission has published a comprehensive set of frequently asked questions (FAQs) on August 7, 2024. This initiative aims to provide clarity and reduce administrative burdens for companies navigating the complex landscape of sustainability reporting requirements.
Deloitte's 2024 "Sustainability Action Report" unveils a landscape of substantial progress in corporate sustainability initiatives, while also highlighting ongoing challenges in data quality and reporting. The report offers a detailed look at how companies are adapting to increased regulatory scrutiny and evolving stakeholder expectations around environmental, social, and governance (ESG) issues.
A recent report by Environmental Resources Management (ERM) has brought to light the prevalence of greenwashing within corporate America. According to the study, a staggering 68% of corporate leaders in the United States admit to engaging in greenwashing practices, raising significant concerns over the credibility of environmental, social, and governance (ESG) claims made by businesses.
In a victory for the Australian Securities and Investments Commission (ASIC), the Federal Court has imposed a $11.3 million ($7.4 million USD) penalty on Mercer Superannuation (Australia) Limited for misleading statements regarding the sustainability of its superannuation investment options. This ruling marks a pivotal moment as it is the first greenwashing case brought before the court by ASIC, setting a precedent for the financial services industry in Australia.