There are so many ESG-related publications and developments that it is hard to keep abreast of them all. For this reason, every two weeks, our firm has been publishing a tracker of ESG-related publications and developments, with a primary focus on developments that may be of most interest to or impact our clients, be they corporates, asset managers or asset owners.
Key updates covered in this edition include:
- The Financial Conduct Authority (FCA)’s publication of two new consultations setting out new proposals on climate-related disclosure rules for listed companies and certain regulated firms, such as asset managers, life insurers and some pension providers.
- The European Council announcing the adoption of the European climate law, which sets into legislation the European Union (EU) goal to reach climate neutrality by 2050.
- The World Bank announcing the launch of its second Climate Change Action Plan, aimed to advance the climate change aspects of its Green, Resilient and Inclusive Development approach.
- Approval of the Spanish Royal Decree awarding the autonomous communities and the cities of Ceuta and Melilla a grant to execute various incentive plans linked to self-consumption and storage of renewable energy, as well as the implementation of renewable thermal systems within the residential sector. This Decree was approved as part of the Recovery, Transformation and Resilience Plan.
If you have any ESG-related questions, please get in touch with your usual Herbert Smith Freehills contact who will be able to direct you as appropriate.