VIEW TIMELINE
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Horizon scanning:
ESG developments
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Bureau of Ocean Energy Management
2024
Government publishes the National Strategy to Develop Statistics for Environmental-Economic Decisions, measuring how nature contributes to the country’s economy and to account for natural capital in economic statistics
January 2023
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2024
Keeping up to date with developments in the ESG space can be a challenge at the best of times. The COVID-19 pandemic has further accelerated the ESG conversation, sharpening regulatory focus across the full gamut of environmental, social and governance issues. To help our clients stay abreast of this rapidly shifting landscape, we have published an ESG timeline providing insight into legal, regulatory, policy and market developments across various regions. Together with our regional ESG trackers/newsletters, this timeline will help businesses, investors and lenders keep track of ESG developments. For clients looking for bespoke ESG-focused legal and policy trackers in specific countries/regions, please contact Ernst Muller.
BOEM proposes to update regulations for clean energy development on the US Outer Continental Shelf
January 2023
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DETHUD and the EPA publish the National Blueprint for Transportation Decarbonisation, setting out a strategy for cutting all GHG emissions from the US transportation sector by 2050
January 2023
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FRB provides additional details on how its 2023 pilot climate scenario analysis exercise will be conducted; the pilot will involve the six largest US banks analysing the impact of scenarios for both physical and transition risks related to climate change on specific assets in their portfolios
January 2023
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DOL clarifies the application of the fiduciary duties of prudence and loyalty under the ERISA to the selection of plan investments that incorporate ESG goals (the "DOL Rule")
January 2023
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Trade representatives for the US and Japan agree to establish a joint task force aimed at promoting human rights in supply chains
January 2023
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New Jersey governor adopts executive orders to guarantee 100% renewable electricity by 2035
February 2023
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President Biden announces measures to develop standards for a "Made-in-America" national network of EV chargers
February 2023
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SEC publishes interpretive guidance for "pay versus performance" disclosure requirements, a measure used to link compensation paid executive officers to company performance
February 2023
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SEC Division of Examination announces ESG investing as one of its examination priorities for 2023
February 2023
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DOL and DHHS forms an inter-agency taskforce to combat exploitative child labour in the US
February 2023
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Australia
Canada
Europe
Global
Japan
Hong Kong
South Africa
UK
USA
Legal/regulatory development
Policy development
Market development
Government announces $6 billion Industrial Demonstrations Program, with the aim of accelerating decarbonisation projects targeting for hard-to-abate sectors
March 2023
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President Biden vetoes bill aiming to overturn the DOL Rule
March 2023
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CARB approves rule that requires a phased-in transition toward zero-emission medium-and-heavy duty vehicles
April 2023
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EPA announces proposed standards to further reduce harmful air pollutant emissions from light-duty and medium-duty vehicles starting with model year 2027
April 2023
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President Biden establishes a new White House Office of Environmental Justice to coordinate the implementation of environmental justice policies federally and improve the protection of vulnerable communities disproportionately exposed to environmental and health hazards
April 2023
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Florida adopts An Act Relating to Government and Corporate Activism, prohibiting state retirement systems from basing investment plans on non-pecuniary factors such as ESG
May 2023
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EPA proposes new GHG emission limits for fossil fuel power plants to promote more efficient generating practices
May 2023
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Colorado adopts SB 16 requiring that domestic insurers that write more than $100 million in premiums annually submit annual climate financial risk disclosure reports
May 2023
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US House Committee on Oversight and Accountability holds hearings regarding ESG investing
May 2023
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FTC plans to update its Green Guides framework regarding environmental claims in marketing materials
May 2023
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Publication of the National Clean Hydrogen Strategy and Roadmap, aimed at increasing the production, use and distribution of low carbon hydrogen for use in energy intensive industries
June 2023
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Department of the Interior proposes updates to its renewable energy regulations to promote the development of solar and wind energy on public land
June 2023
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Biden admnistration announces rules that would require government procurement to prioritise sustainable goods and services
August 2023
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Government publishes paper proposing Safeguard Mechanism reforms to deliver a clear trajectory to net zero in 2050 by reducing emissions at Australia's largest industrial facilities
January 2023
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ACCC announces investigation into several businesses for greenwashing
March 2023
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ASFI releases final taxonomy recommendations report, with public consultation results on the development of a sustainable finance taxonomy
March 2023
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Federal Senate agrees to establish an inquiry into greenwashing by certain entities
March 2023
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Introduction of the Nature Repair Market Bill and the Nature Repair Market (Consequential Amendments) Bill into the Commonwealth Parliament to enable landholders to voluntarily participate in biodiversity projects
March 2023
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Parliament passes the Safeguard Mechanism (Crediting) Amendment Bill, to establish the framework for key elements of the Safeguard Mechanism reforms
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Parliament assents to Workplace Gender Equality Amendment Act 2023
April 2023
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Government introduces amendments to the Safeguard Mechanisms
May 2023
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ASIC publishes report on its greenwashing related enforcement and interventions
May 2023
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Government tables a report outlining recommendations for reform of the Modern Slavery Act 2018
May 2023
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Government releases its Implementation Plan for Australian Carbon Credit Units
May 2023
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Government releases second consultation paper on proposed mandatory climate-related financial disclosure regime
June 2023
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Department for Industry, Science and Resources releases its Critical Minerals Strategy for 2023-2030
June 2023
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Environment Minister announce new laws on mandatory packaging design standards and targets, particularly relating to sustainability
June 2023
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Safeguard Mechanism reforms to take effect
July 2023
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Commencement of Western Australian Aboriginal Cultural Heritage Act 2021
July 2023
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Government announces investment of $2 billion in new Hydrogen Headstart program
July 2023
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ASFI publishes a research paper on taxonomy transition methodology which identifies 12 key considerations to mobilise capital toward initiatives that facilitate decarbonisation
July 2023
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Clean Energy Regulator is progressing its efforts to establish the Australian Carbon Exchange, which is intended to facilitate the trading of Australian Carbon Credit Units
July 2023
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ACCC releases guidance on making environmental and sustainability claims
July 2023
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ASFI appoints a Taxonomy Technical Expert Group to advise on the development of Australia's sustainable finance taxonomy
August 2023
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2024
Treasury releases the 2023 Intergenerational Report, which considers five “major forces” affecting the Australian economy and budget over the next 40 years, two of them being climate change and the transition to net zero emissions
August 2023
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EU and its Member States launch the Just and Green Recovery Team Europe Initiative for South Africa, as part of its Global Gateway programme
January 2023
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Government publishes regulations under section 27(2) of the Disaster Management Act in response to the state of disaster declared regarding the electricity crisis
February 2023
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National Assembly passes the Prevention and Combatting of Hate Crimes and Hate Speech Bill
March 2023
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President signs Employment Equity Amendment Bill which empowers the government to set specific equity targets by sector and region where transformation initiatives have lagged
April 2023
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DoEL publishes Draft Employment Equity Regulations 2023 for public comment
May 2023
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Africa Finance Corporation and Japan Bank for International Cooperation sign a memorandum of understanding to collaborate on infrastructure projects that accelerate the energy transition in Africa
May 2023
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Public hearings commence on the Climate Change Bill
May 2023
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South Africa launches dedicated blended finance fund, SA-H2, to raise $1bn for the construction of green hydrogen projects
June 2023
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Government publishes discussion document proposing reforms for the whistleblower protection regime
June 2023
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FCA closes its consultation on the new SDR on investment labels; once adopted these rules will establish a set of sustainability-related product labels, disclosure requirements, and additional rules regarding sustainable investing
January 2023
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Government announces creation of the DESNZ
February 2023
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Treasury announces inquiry into greenwashing–sustainability disclosure requirements
February 2023
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UK and Singapore sign a Green Economy Framework, promoting cooperation in the green economy
March 2023
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Government publishes a revised Green Finance Strategy (updating its previous 2019 strategy) for managing climate change and supporting the transition to net zero
March 2023
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DESNZ publishes Powering up Britain: Net Zero Growth Plan, setting out how the government aims to enhance the UK's energy security, seize the economic opportunities of the low carbon transition and deliver the UK's net zero commitments
March 2023
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CMA closes its consultation on new draft guidance on environmental sustainability agreements
April 2023
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FRC consults on proposed changes to the Corporate Governance Code (applicable to companies with a premium listing on the London Stock Exchange) which would introduce a number of ESG requirements; changes expected to apply for reporting periods beginning 1 Janaury 2025
May 2023
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HMT consults on Future Building Standards to ensure new buildings are "zero carbon ready"
June 2023
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FCA shares findings of its review of the sustainability-linked loans market, highlighting concerns regarding credibility, market integrity and greenwashing
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HMT carries out call for evidence for scope 3 emissions reporting
October 2023
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DESNZ launces a UK Business Climate Hub, offering support to SMEs on the climate and regulatory framework
August 2023
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UK TPT publishes status update and response to disclosure framework consultation
August 2023
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FCA and PRA consult on diversity and inclusion in the financial sector
September 2023
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CSRD enters into force, strengthening the rules concerning the ESG information reportable by in-scope EU companies
January 2023
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Provisional agreement reached on the creation of a regulation to establish a uniform standard for bonds issued under the designation “European Green Bond”
February 2023
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European Commission sets out new rules for renewable hydrogen, adopting two delegated acts under the Renewable Energy Directive
February 2023
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European Parliament and the Council of the EU agree to raise the bloc's 2030 renewable energy targets
March 2023
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European Union adopts new rules on pay transparency to close the gender pay gap in the EU
April 2023
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European Commission and Council of the EU agree the ReFuelEU Aviation proposal; the new rules will help decarbonise the aviation sector by requiring fuel suppliers to blend sustainable aviation fuels with kerosene in increasing amounts from 2025
April 2023
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EU and South Korea establish a partnership to cooperate on climate adaptation, carbon pricing, methane emissions and climate finance
May 2023
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European Parliament votes in favour of the CSDDD which, if adopted, will requires companies to identify, end and/or mitigate their impact on the environment and human rights abuses
June 2023
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Science Based Targets Network, a collaboration of leading global non-profits and mission driven organisations, launches its first science-based targets for nature
May 2023
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OECD publishes revisions to the Guidelines for Multinational Enterprises, government-backed recommendations on responsible business conduct to encourage sustainable development
June 2023
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ISSB publishes the IFRS S1 and IFRS S2 sustainability and climate disclosure standards
June 2023
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United Nations Global Compact publishes the Just Transition in Supply Chains report, focusing on how companies can improve the resilience of their supply chains in light of climate change risks and tackle the transition to net zero
August 2023
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CSA delays final regulation for National Instrument 51-107 (Disclosure of Climate-related Matters), which once adopted, will require publicly listed companies to disclose their climate-related governance and risk management procedures and, if material, their climate-related strategy and reduction metrics and targets
January 2023
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Canadian government announces the Sustainable Jobs Plan to further its net-zero objectives by promoting sustainable job streams
February 2023
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SFAC releases its Taxonomy Roadmap Report, featuring a framework to establish standardised definitions of climate-compatible investments
March 2023
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OSFI publishes Guildeline B-15: Climate Risk Management, setting out the OSFI's approach to climate-related risks and future disclosure requirements for large banks and insurance groups (expected to enter into force in 2024)
March 2023
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April 2023
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Government proposes new measures to prevent plastic pollution, including the launch of consultations into new labelling rules
April 2023
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Parliament passes the Fighting Against Forced Labour and Child Labour in Supply Chains Act, which will require certain companies to report from May 2024 onwards on the steps taken to prevent and reduce the risk that forced or child labour is used
May 2023
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Government adopts a credit system to offset GHG emissions as part of its aim to achieve net zero emissions by 2050
June 2023
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$350 million investment announced to support Canada's Initiative for Sustainable Aviation Technology
June 2023
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JFTC publishes draft of Guidelines Concerning the Activities of Enterprises, etc. Toward the Realisation of a Green Society under the Antimonopoly Act
January 2023
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Publication of amendments to corporate disclosure rules which require Japanese public companies to disclose sustainability-related information in their securities registration statements and annual securities reports for fiscal years ending on and after 31 March 2023
January 2023
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Japanese Cabinet approves a basic policy which is aimed at implementing a "Green Transformation"
February 2023
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Green Transformation League publishes the Basic Guidelines for Disclosure and Evaluation of Climate-related Opportunities to raise awareness of the importance of climate-related “opportunities”
February 2023
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Japan expresses interest in adopting the IFRS Sustainability Disclosure Standards at a meeting held between SSBJ and ISSB
March 2023
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Listed companies in Japan with fiscal year ending on 31 March 2023 required to prepare annual public disclosure documents with ESG-specific disclosures
March 2023
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JFTC enacts new guidelines as to how and whether the concept of “sustainability” would impact their regulatory enforcement
March 2023
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Working Group on Impact Investment, established under the Expert Panel on Sustainable Finance of the JFSA, publishes a report which sets out domestic and international trends and draft basic guidelines on impact investment
June 2023
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2024
2024
2025
© Herbert Smith Freehills 2023 Modern Slavery and Human Trafficking Statement | Accessibility | Legal and Regulatory | Privacy Policy | Report Fraud | Whistleblowing
HKEX publishes a research paper on the global carbon markets and opportunities for Hong Kong
January 2023
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Hong Kong government issues first tokenised green bond
February 2023
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2024
2025
Hong Kong budget outlines: (i) issuance of no less than HKD 15 billion of retail green bonds in the next financial year and the expansion of the scope of the Government Green Bond Programme to cover sustainable finance projects; (ii) issuance of the HK$800 million tokenised green bond - the first tokenised green bond issued by the government; (iii) five initiatives to foster innovation and facilitate fundraising for projects with environmental benefits. Government to set up a “Green Technology and Finance Development Committee” to formulate an action plan to promote the development of Hong Kong into an international green technology and finance centre
February 2023
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HKEX publishes consultation paper proposing to require climate-required disclosures in ESG reports
April 2023
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HKMA releases discussion paper consultation on prototype of green classification framework for Hong Kong
May 2023
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Consultation on May HKMA discussion paper closes
June 2023
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HKMA launches its second climate risk stress test
June 2023
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Hong Kong's Trade Development Council adds ESG consultations into its Transformation Sandbox programme for SMEs
June 2023
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Consultation on April HKEX discussion paper closes
July 2023
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HKMA publishes circular to set out high-level principles on planning for the transition to a net-zero economy, with a view to assisting banks in maintaining safety and soundness in the transition
August 2023
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Green and Sustainable Finance Cross-Agency Steering Group announces its key priorities to further promote and
consolidate Hong Kong's role as a leading sustainable finance hub
August 2023
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Potential start date for HKMA survey on authorised institutions' practices in transition planning, tentatively in the fourth quarter of 2023, with a view to sharing with the industry a range of practices based on survey results
September 2023
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New rules relating to climate-related disclosures take effect and apply to ESG reports published in 2025
January 2025
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Department of the Treasury publishes voluntary principles for net-zero financing and investment, which target financial institutions’ scope 3 financed and facilitated GHG emissions
September 2023
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March 2023
Government announces provision of $1.6 million in 2023–24 to support the initial development of a sustainable finance taxonomy, in partnership with industry through the ASFI
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May 2023
Government consults on priority reforms in respect of Australian Carbon Credit Units
September 2023
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Consultation closes on draft guidelines proposed under the Underwater Cultural Heritage Act 2018, with final guidelines expected later in 2023
November 2023
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Commonwealth environmental laws and policy to undergo a significant review and reform process, with a number of announcements anticipated throughout 2023 and 2024, including as part of the reform of the Environmental Protection and Biodiversity Conservation Act and in the context of the Federal Government’s Nature Positive Plan
December 2023
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Legislation addressing Aboriginal and Torres Strait Islander cultural heritage expected
December 2023
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Government proposes introduction of green bond to boost institutional investment in the transition to net zero
June 2024
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Mandatory climate-related financial disclosure regime to commence
July 2024
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BOEM
California Air Resources Board
CARB
Departments of Energy, Transportation, Housing and Urban Development
DETHUD
Department of Health and Human Services
DHHS
Department of Labor
DOL
Environmental Protection Agency
EPA
Employee Retirement Income Security Act, a federal law that sets minimum standards for most voluntarily established retirement and health plans in private industry
ERISA
Electric Vehicle
EV
Federal Reserve Board
FRB
Federal Trade Commission
FTC
Greenhouse gases
GHG
International Financial Reporting Standards
IFRS
Securities and Exchange Commission
SEC
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June 2023
HMT publishes first impact report from expenditures of the Green Financing Programme
September 2023
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Environment Act 2021 to require all new real estate developments to deliver 10% biodiversity net gain
November 2023
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European Commission publishes new sustainable finance package comprising, among other things, the approved EU Taxonomy Environmental Delegated Act, amendments to the EU Taxonomy Climate Delegated Act and the EU Taxonomy Disclosures Delegated Act, a proposed regulation on ESG rating providers, as well as a Commission Recommendation on facilitating finance for the transition to a sustainable economy
June 2023
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EU Deforestation-free Products Regulation comes into force
June 2023
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European Commission adopts the ESRS to implement the CSRD
July 2023
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European Commission publishes proposal for regulation on ESG data and rating providers
June 2023
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European Commission announces the adoption of reporting rules for product importers during the transitional phase of CBAM, a measure aimed at addressing carbon leakage from imports into the European Union
September 2023
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ESA to review principal adverse impact indicators and financial product disclosures under the SFDR, introduced to improve transparency in the market for sustainable investment products
October 2023
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CBAM enters its transitional period, applying initially to imports of certain goods and selected precursors whose production is carbon intensive
October 2023
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Council of the European Union adopts new regulation creating a European green bond standard
October 2023
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EBA to deliver advice to the European Commission on green loans and mortgages
December 2023
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2024
First report due by importers under the CBAM transitional rules
January 2024
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TNFD publishes nature-related risk and opportunity management and disclosure framework
September 2023
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28th Conference of the Parties for the UNFCCC in Dubai, United Arab Emirates
November 2023
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16th Conference of the Parties for the UN Convention on Biological Diversity (CBD COP16) in Colombia
October 2024
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IFRS' new global sustainability and climate disclosure standards to enter into effect
January 2024
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JFSA publishes response to public comments on draft version of new guidelines on ESG public funds
June 2023
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JFSA consults on guidelines for impact investing
August 2023
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Deadline for responses to JFSA consultation on impact investing guidelines
October 2023
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Issue of draft sustainability disclosure standards based on ISSB standards
March 2024
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Government to finalise sustainability disclosure standards
March 2025
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HKMA to conclude its second climate risk stress test
July 2024
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All listed issuers required to appoint at least one director of a different gender by no later than 31 December 2024
December 2024
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According to CASG, climate-related disclosures aligned with TCFD recommendations to become mandatory across “relevant sectors” by 2025
January 2025
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Environment Protection and Biodiversity Conservation Act
EPBC Act
Australian Securities and Investments Commission
ASIC
Australian Sustainable Finance Institute
ASFI
Australian Competition and Consumer Commission
ACCC
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Department of Employment and Labour
DoEL
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The Pensions Regulator
TPR
Taskforce on Nature-related Financial Disclosures
TNFD
Small and Medium Enterprises
SME
Sustainability Disclosure Requirments
SDR
International Finance Reporting Standards
IFRS
HM Treasury
HMT
Financial Reporting Council
FRC
Financial Conduct Authority
FCA
Department for Work and Pensions
DWP
Department for Energy Security and Net Zero
DESNZ
Competition and Markets Authority
CMA
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Taskforce on Nature-related Financial Disclosures
TNFD
Organisation for Economic Co-operation and Development
OECD
International Sustainability Standards Board
ISSB
International Finance Reporting Standards
IFRS
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United Nations Framework Convention on Climate Change
UNFCCC
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Sustainable Finance Action Council
SFAC
Office of the Superintendent of Financial Institutions
OSFI
International Financial Reporting Standards Foundations
IFRS
Greenhouse gases
GHG
Canadian Securities Adminsitrators
CSA
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Japan Financial Services Agency
JFSA
Japan Fair Trade Commission
JFTC
International Financial Reporting Standards
IFRS
International Sustainability Standards Board
ISSB
Sustainability Standards Board of Japan
SSBJ
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Hong Kong Stock Exchange
HKEX
Task Force on Climate-related Financial Disclosures
TCFD
Hong Kong’s Green and Sustainable Cross-Agency Steering Group
CASG
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Prime Minister Sunak outlines a new approach to the UK's net zero objectives, vowing to take forward a pragmatic, proportionate and realistic path to reach net zero by 2050, reducing costs on British families while still meeting international commitments
September 2023
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See our previous UK and EU ESG regulatory timeline and developments tracker here
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PARTNER, SYDNEY
TIM STUTT
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PROFESSIONAL SUPPORT LAWYER, LONDON
NATALIE SHIPPEN
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Partner, LONDON
REBECCA PERLMAN
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ANTONY CROCKETT
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Key contacts
Australian Accounting Standards Board
AASB
Australian Renewable Energy Agency
ARENA
Treasury Board of Canada's Standard on the Disclosure of Greenhouse Gas Emissions and the Setting of Reduction Targets takes effect; large federal contractors required to disclose GHG emissions and set targets to reduce them
IFRS' new global sustainability and climate disclosure standards to enter into effect
January 2024
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2024
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European Supervisory Authorities
ESA
European Banking Authority
EBA
Corporate Sustainability Reporting Directive
CSRD
Corporate Sustainability Due Diligence Directive
CSDDD
Carbon Border Adjustment Mechanism
CBAM
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European Sustainability Reporting Standards
ESRS
Sustainable Finance Disclosure Regulation
SFDR
EU passes Nature Restoration Law, placing recovery measures on 20% of EU's land and sea by 2030
November 2023
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Expected in 2024 – Net Zero Industry Act to come into force, setting a benchmark for the manufacturing capacity of strategic net zero technologies
Expected in 2024
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Hong Kong Monetary Authority
HKMA
Expected in 2023
Net Zero Industry Act comes into force, setting a benchmark for the manufacturing capacity of strategic net zero technologies
January 2023
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European Parliament and European Council negotiate the Green Claims Directive, establishing a framework for the verifiability and communication of environmental product claims
January 2023
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European Parliament and European Council adopt European Commission's proposal for the Anti-greenwashing Directive
January 2023
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European Banking Authority finalises work on prudential treatment of ESG, explores and amends guidelines on stress testing to incorporate ESG
January 2023
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Expected in 2023
FCA to publish Policy Statement on SDR and investment labels
January 2023
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FCA to publish anti-greenwashing rule for all FCA-regulated firms
January 2023
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FRC, FCA, TPR and HMT to review regulatory framework for effective stewardship
January 2023
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HMT to explore how TNFD framework can be incorporated into UK policy/legislation
January 2023
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FCA delays anticipated rules on SDR and investment labels
April 2023
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Department for Business and Trade publish guidance on process it would take to adopt the ISSB sustainability standards
August 2023
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FCA publishes Primary Market Bulletin 45, in which it says it plans to consult on the implementation and disclosure rules based on the SDR in the first half of 2024; FCA also confirms it will consult on its proposals for the publication of climate transition plans by listed companies, building on the work of the TPT
August 2023
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TPT publishes final disclosure framework on climate transition plans
October 2023
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CMA publishes final version of Green Agreements Guidance aimed at assisting businesses with their assessment of the application of the UK competition rules to environmental sustainability agreements entered into between competitors
October 2023
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HMT to endorse the first two ISSB standards
Expected in 2024
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FCA to consult on the implementation of disclosure rules based on SDR
Expected in 2024
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FCA to consult on proposals for publication of climate transition plans by listed companies, building on the work of TPT
Expected in 2024
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Environment Act 2021 to require developers of projects to be consented under the Town and Country Planning Act 1990 or the Planning Act 2008 must deliver a minimum 10% biodiversity net gain in relation to their projects
January 2024
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SEC adopts amendments to the Investment Company Act to strengthen the rule on fund names to prevent misleading investors about a fund’s investments and risks
September 2023
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California Governor signs Senate Bill SB 253 (Climate Corporate Data Accountability Act) and Senate Bill SB 261 (Climate-related Financial Risk) into law
October 2023
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European Parliament and European Council reach provisional agreement on the Green Claims Directive, establishing a framework for the verifiability and communication of environmental product claims
September 2023
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EBA publishes report on role of environmental and social risks in the prudential framework
October 2023
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CSRD reporting obligations begin to apply
January 2024
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High Court confirms refusal of permission for ClientEarth derivative action against Shell directors
July 2023
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Court of Appeal upholds first instance decision in McGaughey & Anor v Universities Superannuation Scheme Ltd, dismissing the application by members of a pension scheme to bring derivative action against directors of the scheme's trustee company
July 2023
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FCA publishes Policy Statement on SDR, investment labels and anti-greenwashing rule
November 2023
READ MORE >
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Senior Associate, Johannesburg
ERNST MÜLLER
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Partner, New York
BENJAMIN RUBINSTEN
+49 69 2222 82540
Partner, Frankfurt
HEIKE SCHMITZ
ESMA publishes explanatory notes on fundamental concepts under the EU sustainable finance framework
November 2023
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ESAs publish final report with proposed amendments to draft regulatory technical standards under SFDR
December 2023
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European Parliament and Council of the European Union reach provisional agreement on directive to protect the environment through criminal law
December 2023
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EFRAG publishes three ESRS implementation guidance documents for consultation
December 2023
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European Parliament and Council of the European Union reach provisional agreement on the text of the Corporate Sustainability Due Diligence Directive
December 2023
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First set of ESRS enters into force
December 2023
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Commission publishes additional guidance for financial undertakings on KPI reporting under Taxonomy Disclosures Delegated Act
December 2023
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UK Government consults on incorporating social factors into pensions investment decisions
October 2023
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Court of Appeal rejects ClientEarth’s application for permission to continue its derivative claim against Shell’s board of directors
November 2023
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Private Members’ Bill seeks introduction of duty to prevent human rights and environmental harms on companies and public authorities
November 2023
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FCA publishes long-awaited package of measures on sustainability disclosure requirements, investment labels and anti-greenwashing
November 2023
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Carer’s Leave Act 2023 enters into force. Act inserts new provisions to the Employment Rights Act 1996 to give employees a day-one right to one week’s unpaid leave (pro-rated) each year to provide or arrange care for a dependent with a long-term care need
December 2023
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FCA publishes Policy Statement on SDR, investment labels and anti-greenwashing rule
December 2023
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Government confirms intention to implement a carbon border adjustment mechanism by 2027, which will impose a carbon tariff on emissions-intensive industrial goods imported to the UK by the aluminium, cement, ceramics, fertiliser, glass, hydrogen, iron and steel sectors
December 2023
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SEC further delays adoption of its climate disclosure rules, which would require public companies to make climate-related disclosures, to at least April 2024
December 2023
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Last updated on 6 February 2024
International Organization of Securities Commissions publishes final report on supervisory approaches and practices to address greenwashing in the areas of asset management, ESG ratings and data product providers
December 2023
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International Capital Markets Association launched a voluntary code of conduct for ESG ratings and data providers
December 2023
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Network for Greening the Financial System publishes recommendations on developing scenarios for assessing nature-related economic and financial risks
December 2023
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World Economic Forum publishes Global Risks Report 2024, analysing global risks over one-, two- and 10-year horizons to support decision-makers in adopting a dual vision that balances short- and longer-term risks. Environmental risks dominate the risks landscape over all three time frames
December 2023
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Cabinet approves Just Energy Transition Implementation Plan setting out interventions and investments deemed necessary to support decarbonisation commitments made by South African government in its Nationally Determined Contribution
June 2023
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HKEX delays proposed amendments to Listing Rules to enhance climate-related disclosures, originally intended for implementation on 1 January 2024
November 2023
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Cabinet approves Just Energy Transition Implementation Plan setting out interventions and investments deemed necessary to support decarbonisation commitments made by South African government in its Nationally Determined Contribution
December 2023
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