ESG 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

BOEM proposes to update regulations for clean energy development on the US Outer Continental Shelf

January 2023

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

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

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

Trade representatives for the US and Japan agree to establish a joint task force aimed at promoting human rights in supply chains

January 2023

New Jersey governor adopts executive orders to guarantee 100% renewable electricity by 2035

February 2023

President Biden announces measures to develop standards for a "Made-in-America" national network of EV chargers

February 2023

SEC publishes interpretive guidance for "pay versus performance" disclosure requirements, a measure used to link compensation paid executive officers to company performance

February 2023

SEC Division of Examination announces ESG investing as one of its examination priorities for 2023

February 2023

DOL and DHHS forms an inter-agency taskforce to combat exploitative child labour in the US

February 2023

Government announces $6 billion Industrial Demonstrations Program, with the aim of accelerating decarbonisation projects targeting for hard-to-abate sectors

March 2023

President Biden vetoes bill aiming to overturn the DOL Rule

March 2023

CARB approves rule that requires a phased-in transition toward zero-emission medium-and-heavy duty vehicles

April 2023

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

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

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

EPA proposes new GHG emission limits for fossil fuel power plants to promote more efficient generating practices

May 2023

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

US House Committee on Oversight and Accountability holds hearings regarding ESG investing

May 2023

FTC plans to update its Green Guides framework regarding environmental claims in marketing materials

May 2023

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

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

Biden admnistration announces rules that would require government procurement to prioritise sustainable goods and services

August 2023

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

ACCC announces investigation into several businesses for greenwashing

March 2023

ASFI releases final taxonomy recommendations report, with public consultation results on the development of a sustainable finance taxonomy

March 2023

Federal Senate agrees to establish an inquiry into greenwashing by certain entities

March 2023

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

Parliament passes the Safeguard Mechanism (Crediting) Amendment Bill, to establish the framework for key elements of the Safeguard Mechanism reforms

Parliament assents to Workplace Gender Equality Amendment Act 2023

April 2023

Government introduces amendments to the Safeguard Mechanisms

May 2023

ASIC publishes report on its greenwashing related enforcement and interventions

May 2023

Government tables a report outlining recommendations for reform of the Modern Slavery Act 2018

May 2023

Government releases its Implementation Plan for Australian Carbon Credit Units

May 2023

Government releases second consultation paper on proposed mandatory climate-related financial disclosure regime

June 2023

Department for Industry, Science and Resources releases its Critical Minerals Strategy for 2023-2030

June 2023

Environment Minister announce new laws on mandatory packaging design standards and targets, particularly relating to sustainability

June 2023

Safeguard Mechanism reforms to take effect

July 2023

Commencement of Western Australian Aboriginal Cultural Heritage Act 2021

July 2023

Government announces investment of $2 billion in new Hydrogen Headstart program

July 2023

ASFI publishes a research paper on taxonomy transition methodology which identifies 12 key considerations to mobilise capital toward initiatives that facilitate decarbonisation

July 2023

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

ACCC releases guidance on making environmental and sustainability claims

July 2023

ASFI appoints a Taxonomy Technical Expert Group to advise on the development of Australia's sustainable finance taxonomy

August 2023

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

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

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

National Assembly passes the Prevention and Combatting of Hate Crimes and Hate Speech Bill

March 2023

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

DoEL publishes Draft Employment Equity Regulations 2023 for public comment

May 2023

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

Public hearings commence on the Climate Change Bill

May 2023

South Africa launches dedicated blended finance fund, SA-H2, to raise $1bn for the construction of green hydrogen projects

June 2023

Government publishes discussion document proposing reforms for the whistleblower protection regime

June 2023

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

Government announces creation of the DESNZ

February 2023

Treasury announces inquiry into greenwashing–sustainability disclosure requirements

February 2023

UK and Singapore sign a Green Economy Framework, promoting cooperation in the green economy

March 2023

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

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

CMA closes its consultation on new draft guidance on environmental sustainability agreements

April 2023

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

HMT consults on Future Building Standards to ensure new buildings are "zero carbon ready"

June 2023

FCA shares findings of its review of the sustainability-linked loans market, highlighting concerns regarding credibility, market integrity and greenwashing

HMT carries out call for evidence for scope 3 emissions reporting

October 2023

DESNZ launces a UK Business Climate Hub, offering support to SMEs on the climate and regulatory framework

August 2023

UK TPT publishes status update and response to disclosure framework consultation

August 2023

FCA and PRA consult on diversity and inclusion in the financial sector

September 2023

CSRD enters into force, strengthening the rules concerning the ESG information reportable by in-scope EU companies

January 2023

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

European Commission sets out new rules for renewable hydrogen, adopting two delegated acts under the Renewable Energy Directive

February 2023

European Parliament and the Council of the EU agree to raise the bloc's 2030 renewable energy targets

March 2023

European Union adopts new rules on pay transparency to close the gender pay gap in the EU

April 2023

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

EU and South Korea establish a partnership to cooperate on climate adaptation, carbon pricing, methane emissions and climate finance

May 2023

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

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

OECD publishes revisions to the Guidelines for Multinational Enterprises, government-backed recommendations on responsible business conduct to encourage sustainable development

June 2023

ISSB publishes the IFRS S1 and IFRS S2 sustainability and climate disclosure standards

June 2023

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

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

Canadian government announces the Sustainable Jobs Plan to further its net-zero objectives by promoting sustainable job streams

February 2023

SFAC releases its Taxonomy Roadmap Report, featuring a framework to establish standardised definitions of climate-compatible investments

March 2023

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

April 2023

Government proposes new measures to prevent plastic pollution, including the launch of consultations into new labelling rules

April 2023

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

Government adopts a credit system to offset GHG emissions as part of its aim to achieve net zero emissions by 2050

June 2023

$350 million investment announced to support Canada's Initiative for Sustainable Aviation Technology

June 2023

JFTC publishes draft of Guidelines Concerning the Activities of Enterprises, etc. Toward the Realisation of a Green Society under the Antimonopoly Act

January 2023

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

Japanese Cabinet approves a basic policy which is aimed at implementing a "Green Transformation"

February 2023

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

Japan expresses interest in adopting the IFRS Sustainability Disclosure Standards at a meeting held between SSBJ and ISSB

March 2023

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

JFTC enacts new guidelines as to how and whether the concept of “sustainability” would impact their regulatory enforcement

March 2023

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

HKEX publishes a research paper on the global carbon markets and opportunities for Hong Kong

January 2023

Hong Kong government issues first tokenised green bond

February 2023

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

HKEX publishes consultation paper proposing to require climate-required disclosures in ESG reports

April 2023

HKMA releases discussion paper consultation on prototype of green classification framework for Hong Kong

May 2023

Consultation on May HKMA discussion paper closes

June 2023

HKMA launches its second climate risk stress test

June 2023

Hong Kong's Trade Development Council adds ESG consultations into its Transformation Sandbox programme for SMEs

June 2023

Consultation on April HKEX discussion paper closes

July 2023

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

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

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

New rules relating to climate-related disclosures take effect and apply to ESG reports published in 2025

January 2025

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

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

May 2023

Government consults on priority reforms in respect of Australian Carbon Credit Units

September 2023

Consultation closes on draft guidelines proposed under the Underwater Cultural Heritage Act 2018, with final guidelines expected later in 2023

November 2023

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

Legislation addressing Aboriginal and Torres Strait Islander cultural heritage expected

December 2023

Government proposes introduction of green bond to boost institutional investment in the transition to net zero

June 2024

Mandatory climate-related financial disclosure regime to commence

July 2024

June 2023

HMT publishes first impact report from expenditures of the Green Financing Programme

September 2023

Environment Act 2021 to require all new real estate developments to deliver 10% biodiversity net gain

November 2023

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

EU Deforestation-free Products Regulation comes into force

June 2023

European Commission adopts the ESRS to implement the CSRD

July 2023

European Commission publishes proposal for regulation on ESG data and rating providers

June 2023

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

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

CBAM enters its transitional period, applying initially to imports of certain goods and selected precursors whose production is carbon intensive

October 2023

Council of the European Union adopts new regulation creating a European green bond standard

October 2023

EBA to deliver advice to the European Commission on green loans and mortgages

December 2023

First report due by importers under the CBAM transitional rules

January 2024

TNFD publishes nature-related risk and opportunity management and disclosure framework

September 2023

28th Conference of the Parties for the UNFCCC in Dubai, United Arab Emirates

November 2023

16th Conference of the Parties for the UN Convention on Biological Diversity (CBD COP16) in Colombia

October 2024

IFRS' new global sustainability and climate disclosure standards to enter into effect

January 2024

JFSA publishes response to public comments on draft version of new guidelines on ESG public funds

June 2023

JFSA consults on guidelines for impact investing

August 2023

Deadline for responses to JFSA consultation on impact investing guidelines

October 2023

Issue of draft sustainability disclosure standards based on ISSB standards

March 2024

Government to finalise sustainability disclosure standards

March 2025

HKMA to conclude its second climate risk stress test

July 2024

All listed issuers required to appoint at least one director of a different gender by no later than 31 December 2024

December 2024

According to CASG, climate-related disclosures aligned with TCFD recommendations to become mandatory across “relevant sectors” by 2025

January 2025

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

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

EU passes Nature Restoration Law, placing recovery measures on 20% of EU's land and sea by 2030

November 2023

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

Net Zero Industry Act comes into force, setting a benchmark for the manufacturing capacity of strategic net zero technologies

January 2023

European Parliament and European Council negotiate the Green Claims Directive, establishing a framework for the verifiability and communication of environmental product claims

January 2023

European Parliament and European Council adopt European Commission's proposal for the Anti-greenwashing Directive

January 2023

European Banking Authority finalises work on prudential treatment of ESG, explores and amends guidelines on stress testing to incorporate ESG

January 2023

FCA to publish Policy Statement on SDR and investment labels

January 2023

FCA to publish anti-greenwashing rule for all FCA-regulated firms

January 2023

FRC, FCA, TPR and HMT to review regulatory framework for effective stewardship

January 2023

HMT to explore how TNFD framework can be incorporated into UK policy/legislation

January 2023

FCA delays anticipated rules on SDR and investment labels

April 2023

Department for Business and Trade publish guidance on process it would take to adopt the ISSB sustainability standards

August 2023

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

TPT publishes final disclosure framework on climate transition plans

October 2023

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

HMT to endorse the first two ISSB standards

Expected in 2024

FCA to consult on the implementation of disclosure rules based on SDR

Expected in 2024

FCA to consult on proposals for publication of climate transition plans by listed companies, building on the work of TPT

Expected in 2024

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

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

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

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

EBA publishes report on role of environmental and social risks in the prudential framework

October 2023

CSRD reporting obligations begin to apply

January 2024

High Court confirms refusal of permission for ClientEarth derivative action against Shell directors

July 2023

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

FCA publishes Policy Statement on SDR, investment labels and anti-greenwashing rule

November 2023

ESMA publishes explanatory notes on fundamental concepts under the EU sustainable finance framework

November 2023

ESAs publish final report with proposed amendments to draft regulatory technical standards under SFDR

December 2023

European Parliament and Council of the European Union reach provisional agreement on directive to protect the environment through criminal law

December 2023

EFRAG publishes three ESRS implementation guidance documents for consultation

December 2023

European Parliament and Council of the European Union reach provisional agreement on the text of the Corporate Sustainability Due Diligence Directive

December 2023

First set of ESRS enters into force

December 2023

Commission publishes additional guidance for financial undertakings on KPI reporting under Taxonomy Disclosures Delegated Act

December 2023

UK Government consults on incorporating social factors into pensions investment decisions

October 2023

Court of Appeal rejects ClientEarth’s application for permission to continue its derivative claim against Shell’s board of directors

November 2023

Private Members’ Bill seeks introduction of duty to prevent human rights and environmental harms on companies and public authorities

November 2023

FCA publishes long-awaited package of measures on sustainability disclosure requirements, investment labels and anti-greenwashing

November 2023

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

FCA publishes Policy Statement on SDR, investment labels and anti-greenwashing rule

December 2023

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

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

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

International Capital Markets Association launched a voluntary code of conduct for ESG ratings and data providers

December 2023

Network for Greening the Financial System publishes recommendations on developing scenarios for assessing nature-related economic and financial risks

December 2023

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

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

HKEX delays proposed amendments to Listing Rules to enhance climate-related disclosures, originally intended for implementation on 1 January 2024

November 2023

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

Australian federal government releases first phase report of the National Climate Risk Assessment and a consultation paper seeking public input on how Australia can best prepare for and adapt to the impacts of climate change

March 2024

Paid Parental Leave Amendment (More Support for Working Families) Bill 2023 passes both houses of the Australian Parliament and currently awaits Royal Assent. The Bill will ensure that new parents will be eligible for more paid parental leave from 1 July 2024. From this date, two more weeks of payment will be added each year until the overall length of the paid parental leave scheme reaches 26-weeks by July 2026

March 2024

ASIC publishes guidance on greenwashing to small Australian businesses

March 2024

New South Wales Government passes Environment Protection Legislation Amendment (Stronger Regulation and Penalties) Bill 2024 to strengthen penalties and the Environmental Protection Agency's powers to deter repeat offenders and make polluters pay

March 2024

Australian federal government introduces the Net Zero Economy Authority Bill 2024 into Parliament, which looks to establish the Net Zero Economy Authority

March 2024

Climate Change Authority release an issues paper for consultation to inform the development of the federal government’s Net Zero by 2050 Plan and Australia’s 2035 emissions reduction targets to be included in Australia’s new Nationally Determined Contribution under the Paris Agreement

April 2024

Canadian government initiates a public engagement process to inform the establishment of the country's 2035 national GHG emissions target

February 2024

Canadian government introduces the Online Harms Act, a comprehensive legislative initiative aimed at combatting harmful content online, with a particular focus on protecting children from sexual exploitation

February 2024

House of Commons holds a second reading of the Act to amend the Canada Labour Code and the Canada Industrial Relations Board Regulations 2012, which aims to prohibit replacement workers during strikes and lockouts at federally regulated workplaces

February 2024

Canada announces signing the UN Agreement on the Conservation and Sustainable Use of Marine Biological Diversity of Areas beyond National Jurisdiction (BBNJ Agreement). The BBNJ Agreement aims to address environmental degradation and biodiversity loss in the high seas through global collaboration

March 2024

"Canadian Sustainability Standards Board (CSSB) officially releases the exposure drafts of their two Canadian Sustainability Disclosure Standards (CSDS) - CSDS 1 (general requirements for disclosure of sustainability-related financial Information) and CSDS 2 (climate-related disclosures). The CSDSs are near-identical adaptations of the standards issued by the International Sustainability Standards Board (ISSB). The proposed modifications include an extension of the effective date and additional transitional relief, giving more time for companies to prepare"

March 2024

Canadian government implements a comprehensive plan to reduce plastic pollution, improve how plastic is made, used, and managed across its life cycle, and move toward a circular economy

April 2024

Quebec introduces Bill 42, which is aimed at combating psychological harassment and sexual violence in the workplace

April 2024

European Parliament adopts a new directive that seeks to help consumers make more informed purchasing choices and protect them from companies engaged in misleading market practices

January 2024

European Commission publishes its recommendation to set a target to reduce net greenhouse gas emissions by 90% by 2040, compared to 1990 levels

February 2024

European Parliament and Council of the EU reach a provisional agreement on a proposed regulation concerning ESG rating activities

February 2024

European Parliament and Council of the EU reach an agreement on the first EU-wide voluntary framework for the certification of high-quality carbon removals. This framework will boost innovative carbon removal technologies and carbon farming which contribute to the EU's climate, environmental and zero-pollution goals

February 2024

European Parliament adopts the Nature Restoration Law, which sets a target for the EU to restore at least 20% of the EU's land and sea areas by 2030 and all ecosystems in need of restoration by 2050

February 2024

European Parliament and Council of the EU reach a provisional agreement on revamped rules to reduce, reuse and recycle packaging, increase safety and boost the circular economy

March 2024

European Parliament adopts its first reading position on the EU Green Claims Directive, which seeks to protect consumers from greenwashing by requiring companies to submit evidence about their environmental marketing claims

March 2024

European Parliament approves CSDDD

March 2024

European Parliament and Council of the EU reach a provisional agreement on new rules banning products made with forced labour from the EU market and their export from the EU

March 2024

European Court of Human Rights delivers three highly anticipated judgments on the application of the European Convention on Human Rights in the climate change context

April 2024

EU adopts the Energy Performance of Buildings Directive, which is part of the European Green Deal and sets the framework for member states to reduce emissions and energy use in buildings across the EU

April 2024

European Parliament adopts the proposal for a regulation of the European Parliament and of the Council of the EU on the transparency and integrity of ESG rating activities

April 2024

European Parliament approves the Net Zero Industry Act to bolster EU production in technologies needed for decarbonisation

April 2024

Council of the EU adopts a directive delaying the time limits for the adoption of sustainability reporting standards for certain sectors and third-country undertakings under CSRD until 30 June 2026

April 2024

European Commission publishes a summary report containing the results of its public and targeted consultations on the revision of the SFDR

May 2024

European Council adopts EU law to combat violence against women and domestic violence, requiring all EU countries to criminalise female genital mutilation, forced marriage and cyber violence such as the non-consensual sharing of intimate images

May 2024

European Securities and Market Authority publishes its final report on the guidelines on funds' names using ESG or sustainability-related terms

May 2024

EU ministers approve CSDDD, the last step in the legislative procedure before the directive's publication in the Official Journal of the EU and entry into force 20 days later

May 2024

New Environmental Crime Directive enters into force

May 2024

European Council approves the Net Zero Industry Act which, once published in the Official Journal of the EU will enter into force and become directly applicable in all member states

June 2024

European Council approves the Nature Restoration Law which, once published in the Official Journal of the EU, will immediate enter into force and become directly applicable in all member states

June 2024

A High Court in Sapporo rules that a ban on same-sex marriage is unconstitutional, with strong phrasing that is expected to pressure the government and lawmakers for action. This is the first time a high court has handed down a ruling that Japan's ban on same-sex marriage is unconstitutional. The high court judgment follows a similar ruling at the Tokyo District Court, which said that the ban on same-sex marriage is in a “state of unconstitutionality” due to the lack of legal protections for same-sex couples. The Tokyo court, however, stopped short of issuing a stronger “unconstitutional” verdict

March 2024

Japan's cabinet approves legislation that would require more companies to release information on paternity leave usage, among other measures, to encourage fathers to contribute more at home and help curb the falling birth rate. Businesses with more than 300 employees would need to disclose their rates of paternity leave use, down from the current threshold of 1,000, and those with over 100 employees would need to set and disclose targets

March 2024

SSBJ publishes draft sustainability disclosure standards, based on those of the ISSB. The standards have been divided into the Universal Sustainability Disclosure Standard, covering the application of sustainability disclosure standards, and two “theme-based” sustainability disclosure standards for general disclosures and climate-related disclosures

April 2024

Japan's government compiles a draft basic plan that outlines measures to be taken by FY2030 to transition to a circular economy that uses resources efficiently and in a sustainable manner

May 2024

Green and Sustainable Finance Cross-Agency Steering Group, in collaboration with Cyberport and Invest Hong Kong, launches the Prototype Hong Kong Green Fintech Map. This directory of over 50 Green Fintech firms aims to help businesses identify sustainable financial technology solutions. The map covers areas such as ESG data and analytics, ESG disclosures and regulatory reporting, climate risk modelling, green digital finance and investments, and carbon credit trading

March 2024

Government issues a vision statement which sets out the approach of the Government and financial regulators in developing a comprehensive ecosystem for sustainability disclosure in Hong Kong

March 2024

HKMA announces publication of the Hong Kong Taxonomy for Sustainable Finance, aimed at defining and classifying environmentally sustainable economic activities, to help inform decision making and facilitate green finance flows. At the time of the launch, the taxonomy covers 12 economic activities across four sectors, including power generation, transportation, construction, and water and waste management

May 2024

Voluntary Code of Conduct Working Group launches a public consultation on the Hong Kong Code of Condust for ESG ratings and date products providers to develop and promote a globally consistent, interoperable and proportionate voluntary code of conduct

May 2024

Minister of Forestry, Fisheries and the Environment publishes a revised draft National Biodiversity Economy Strategy (NBES). The NBES is developed to optimise biodiversity-based business potential across the terrestrial, fresh water, estuarine, and marine and coastal realms, and to contribute to economic growth with local benefits, job creation, poverty alleviation, and food security, while maintaining the ecological integrity of the biodiversity resource base, for thriving people and nature

March 2024

Department of Water and Sanitation announces it intends to create a national register of polluters in order to address pollution of the environment and water sources in South Africa by recording the names of those individuals and companies that are responsible for pollution

April 2024

Supreme Court of Appeal finds that creditors cannot sue directors of a company directly. Instead, companies themselves should be the focus of the claim, not directors in their individual capacities. The SCA’s decision sets the precedent for how litigants must conduct their cases against companies, correcting and clarifying the litigation procedure for every court in South Africa

April 2024

Minister of Forestry, Fisheries and the Environment publishes the draft 9th National Greenhouse Gas Inventory Report for public consultation. The report provides preliminary estimates of current emissions levels and trends in the country

May 2024

Minister of Trade, Industry and Competition releases the department's industrial policy and strategy review. The review maps the measures and actions of the South African government over the past five years under the Reimagined Industrial Strategy and discusses the way forward for industrial policy in the context of changing global and local conditions

May 2024

Minister of Forestry, Fisheries and the Environment announces the publication of the draft National Environmental Management: Biodiversity Bill

May 2024

Developers in England are now legally required to deliver at least a 10% biodiversity net gain when building new housing, industrial or commercial developments

February 2024

UK government announces, as part of the Spring Budget, its plans to regulate providers of ESG ratings to users in the UK. According to the government, ESG ratings providers will be brought into the regulatory perimeter of the FCA

March 2024

Minister of State for Energy Security and Net Zero confirms that the UK will withdraw from the Energy Charter Treaty (ECT). The UK's withdrawal will take effect 12 months after written notification of the withdrawal to the ECT Secretariat, after which there will no longer be protections for new investments

March 2024

High Court finds the UK government's Carbon Budget Delivery Plan to be unlawful

May 2024

UK government publishes an update on the implementation of the sustainability disclosure requirements in the UK. The update includes a revised timeline for the development of the UK sustainability reporting standards

May 2024

UK government publishes its draft Producer Responsibility Obligations (Packaging and Packaging Waste) Regulation 2024, following a consultation on the regualtions in July 2023

May 2024

UK Supreme Court rules that UK strike law is incompatible with human rights

May 2024

UK Supreme Court delivers highly anticipated judgment in R (on the application of Finch on behalf of the Weald Action Group) v Surrey County Council and others [2024] UKSC 20, in which the court held, by a majority, that emissions resulting from the eventual use of refined products from a proposed oil development should have been assessed in the environmental impact assessment process

June 2024

US Federal Communications Commission (FCC) issues proposed rules regarding affirmative obligations for broadband providers through (i) annual reports that facilitate greater transparency regarding substantial broadband projects recently completed by providers, and (ii) internal compliance programmes requiring periodic evaluation of the demographics of communities served - and not served - by such recently completed projects, as well as pending and planned substantial projects. The FCC noted that the proposed rules comprise additional steps to fulfil its statutory mandate to facilitate equal access to broadband internet access service by preventing digital discrimination of access

February 2024

EPA publishes tolerances for residues of the herbicide saflufenacil in or on certain corn and cereal commodities. The EPA has determined that the tolerances are safe and consistent with the Federal Food, Drug, and Cosmetic Act. The regulation is effective from 2 February 2024

February 2024

US Department of Labor releases its updated Equity Action Plan to support the current Biden-Harris Administration's plans to advance racial equity through executive orders and other federal mechanisms

February 2024

US Pipeline and Hazardous Materials Safety Administration amends the Hazardous Materials Regulations to update, clarify, improve the safety of or streamline various regulatory requirements

March 2024

SEC adopt its final climate disclosure rules to enhance and standardise climate-related disclosures by public companies and in public offerings

March 2024

US Department of Energy (DOE) amends DOE’s list of categories of projects which, because they typically do not have significant environmental impacts, qualify for the simplest form of environmental review under the National Environmental Policy Act

April 2024

UN Global Resources Outlook 2024 report warns that extraction of natural resources is occurring at an unsustainable rate

March 2024

International Energy Agency publishes annual report, indicating that CO₂ emissions from the energy sector reached a new record in 2023

March 2024

UN Environment Programme Finance Initiative publishes updated version of its guidelines for climate target setting for banks. The new version extends the scope of targets to include banks' capital markets activities

March 2024

UN Development Programme unveils next stage of the Climate Promise, an initiative to support developing countries with climate actions

April 2024

UN High Commissioner for Refugees announces launch of its Climate Resilience Fund, aiming to raise USD 100 million by the end of 2025

April 2024

UN Secretary-General launches Panel on Critical Energy Transition Minerals, an initiative aimed at ensuring fairness, sustainability, and respect for human rights in the sourcing and use of critical minerals needed for the clean energy transition

April 2024

International Tribunal for the Law of the Sea delivers an advisory opinion that (i) anthropogenic greenhouse gas (GHG) emissions into the atmosphere (from land-based sources, vessels or from or through the atmosphere) constitute pollution of the marine environment under the UN Convention on the Law of the Sea (UNCLOS), and that (ii) the state parties to UNCLOS have obligations to take all necessary measures to prevent, reduce and control marine pollution resulting from GHG emissions and "to endeavour to harmonise their policies" in this respect

May 2024

Australia Office of Financial Management announced that it successfully issued its first Green Treasury Bond on behalf of the Australian Government

June 2024

The Parliamentary Joint Committee on Human Rights released its report from its inquiry into Australia's human rights framework. Recommending the introduction of a federal Human Rights Act that incorporates the human rights protected by core international treaties to which Australia is a party

June 2024

The Australian Institute of Company Directors has released a suite of resources to help boards harness the power of AI responsibly

June 2024

Australian Government released its Sustainable Finance Roadmap, helping investors, companies and the broader community engage with the global net zero transformation

June 2024

Australia's Federal and State environment Ministers agree to national targets of '30 by 30', as part of obligations under the Conventon on Biological Diversity

June 2024

Australian Competition and Consumer Commission published a draft guide on sustainability collaborations with respect to Australian competition law

July 2024

The Energy and Climate Change Ministerial Council approved the National Guidelines on Community Engagement and Benefits for Electricity Tranmission Projects

July 2024

Victorian Government begins process on its forthcoming legislation which proposes to restrict the use of non-disclosure agreements in the settlement of workplace sual harassment cases.

August 2024

Australian Senate passes Treasury Laws Amendment (Financial Market Infrastructure and Other Measures) Bill 2024 (Cth)

August 2024

The Australian Securities and Investments Commission released a report, outlining its greenwashing interventions during the 15-month period up to 30 June 2024

August 2024

Right to disconnect comes into effect

August 2024

South Australian Minister for Climate, Environment and Water introduced the Climate Change and Greenhouse Emissions Reduction (Miscellaneous) Bill 2024

August 2024

The Treasury Laws Amendment (Financial Market Infrastructure and Other Measures) Bill 2024 (Cth), which introduces Australia's new climate reporting regime, was passed by both houses of Parliament

September 2024

Federal Parliament passed new legislation to establish a new 'just transition' authority

September 2024

The Department of Climate Change, Energy, the Environment and Water Introduced into Parliament the Landmark Future Made in Australia (Guarantee of Origin) Bill 2024

September 2024

The Auditing and Assurance Standards Board (AUASB) has released its exposure draft on the Proposed Australian Standard on Sustainability Assurance ASSA 5010 Timeline for Audits and Reviews of Information in Sustainability Reports under the Corporations Act 2001

September 2024

The Federal Parliament passed the Australian Human Rights Commission Amendment (Costs Protection) Bill 2023 in response to the Respect@Work report recommendations

September 2024

The Australian Accounting Standards Board has formally voted on the pronouncement of: (i) AASB S1 General Requirements for Disclosure of Sustainability-related Financial Information and (ii) AASB S2 Climate-related Disclosures as a Mandatory Standard

September 2024

Australian Government announces '30 by 30' roadmap for environmental conversation on land

October 2024

Australia's Strategy for Nature 2024-2030 published

October 2024

Australian Government publishes self-assessment guidelines for heritage places

October 2024

Canada passes Bill C-59 which introduces significant changes to the Competition Act to address greenwashing, including new government regulations, private litigation options, and competition agreements

July 2024

British Columbia introduces a ban on single-use plastic bags and other single-use plastic products

July 2024

The Government of Canada announced a plan to expand product-related regulations for per- and polyflourinated substances (PFAS)

August 2024

The Canadian government announces modernisations to the Canadian Environmental Protection Act in the interest of protecting against pollution and protecting the right to a healthy environment. Key components include a Draft Implementation Framework for the Right to a Healthy Environment, a proposed Watch List for hazardous substances, and a Draft Strategy to refine animal testing methods

October 2024

The Ecodesign for Sustainable Products Regulation was adopted, replacing the existing Ecodesign Directive 2009/125/EC (in force since 2009)

May 2024

The Nature Restoration Law entered into force and has become directly applicable in all member states

June 2024

The ESAs have published their final reports on greenwashing in the financial sector

June 2024

The European Council adopted its position on the proposed Green Claims Directive, which seeks to address greenwashing and help consumers make informed decisions when buying a product or using a service

June 2024

The ECB has published its second set of climate-related financial disclosures, which provides information on the carbon footprint of its portfolios and their exposure to climate risks, as well as on climate-related governance, strategy and risk management

June 2024

The EU Regulation on methane emissions reduction in the energy sector (EU/2024/1787) entered into force, it aims to reduce methane emissions in the EU and globally

August 2024

The European Commission published Frequently Asked Questions on the implementation of the CSRD

August 2024

Environmental campaign groups Climate Action Network (CAN) Europe and the Global Legal Action Network (GLAN) have submitted final written arguments in a fast-tracked case before the Court of Justice of the European Union's General Court against the European Commission, seeking to force Brussels to upgrade its emissions rules for 2030 and, in a second case, scrap rules that label some planes as climate-friendly investments

August 2024

The European Commission launched the Climate City Capital Hub, with a €650 billion investment target to aid 112 cities in reaching climate neutrality by 2030. This initiative, supported by the European Investment Bank, will focus on engaging private capital for climate action plans, with services for both mitigation and adaptation projects. It represents a crucial step in the EU's efforts to foster innovation and mobilize investments for climate goals

August 2024

ESMA published translations of the "Guidelines on funds' names using ESG or sustainability-related terms" in all EU languages. As a result, the Guidelines will come into force for new funds on 21 November 2024 and existing funds on 21 May 2025

August 2024

The European Commission adopted an amendment to the EU Emissions Trading System (ETS) Monitoring and Reporting Regulation, 2018. The amendment relates to zero-rating of emissions from certain low-carbon fuels in the ETS, and amends rules for biomass fuels and sustainable aviation fuels

September 2024

The EC has adopted new measures under the REACH regulation to restrict the use of undecafluorohexanoic acid PFHxA and PFHxA related substances

September 2024

The European Commission opened infringement procedures by sending a letter of formal notice to 17 Member States (Belgium, Czech Republic, Germany, Estonia, Greece, Spain, Cyprus, Latvia, Luxembourg, Malta, the Netherlands, Austria, Poland, Portugal, Romania, Slovenia, and Finland) for failing to transpose the CSRD into their national legal systems

September 2024

The European Commission proposes additional 12 months for phasing in the Deforestation Regulation which, if approved, would make the law applicable on 30 December 2025 for large companies and 30 June 2026 for micro and small enterprises

October 2024

European Parliament to approve a new European Packaging and Packaging Waste Regulation introducing a classification system to assess the recyclability of packaging

November 2024

Finalization of JFSA Basic Guidelines on Impact Investment

March 2024

JFTC publishes revised Green Guidelines on sustainability considerations in competition enforcement

April 2024

First award for damages for indirect gender discrimination for corporate housing policy practically applied only to men

May 2024

Japan's government indicated it is set to oblige major manufacturers to utilise recycled plastics

June 2024

Japan's government will require companies to collect and reuse rare metals in an effort to prevent rare metals from being exported overseas and secure scarce resources domestically

August 2024

Japan's government considering including penalties for failure to achieve emissions reduction targets in draft GX Promotion Act, to be adopted in 2025

September 2024

The Climate Bonds Initiative’s (Climate Bonds) latest report finds that Hong Kong’s sustainable debt market has achieved its largest growth yet, driven by government issuance, leading its peers in the Asian region and entering the global top ten jurisdictions in green bonds issuance for the first time

July 2024

The Hong Kong Monetary Authority (HKMA) issued a circular sharing some industry good practices and key observations on climate-related risk governance for authorized institutions (AIs). The good practices highlighted are part of the HKMA’s outreach to the banking industry to assist them in improving their climate risk management practices

August 2024

The Government launched the "Stepping Stone" - Pilot Scheme on "Subsidy to Encourage Employment of Disabled Recipients under the Comprehensive Social Security Assistance Scheme", subsidised by the Community Care Fund (CCF) on 1 September 2024 to provide an additional employment subsidy for employed disabled recipients of Comprehensive Social Security Assistance (CSSA)

September 2024

The Hong Kong Institute of Certified Public Accountants (HKICPA) announced the publication of the Exposure Drafts for HKFRS S1 General Requirements for Disclosure of Sustainability-related Financial Information and HKFRS S2 Climate-related Disclosures (HKFRS Sustainability Disclosure Standards) for public consultation

September 2024

The ICMA published the Hong Kong Code of Conduct for ESG Ratings and Data Products Providers. Its aim is to establish and promote a globally consistent, interoperable, and proportionate voluntary code for providers offering ESG ratings and data products and services in Hong Kong, closely following the IOSCO recommendations

October 2024

The Climate Change Bill has been signed into law by President Cyril Ramaphosa

July 2024

The Companies Amendment Act was signed into law, The amendments include an added requirement for public and state-owned enties to prepare remunaration reports

August 2024

Regulations for Implementing Area Air Quality Management Plans have been published. The Regulations mandate the impementation of targeted emission reduction and management

August 2024

The Companies and Intellectual Property Commission (CIPC) has updated the Ixbrl Taxonomy to include the 2024 IFRS Taxonmy, which includes sustainability reporting

October 2024

The UK ETS Authority published a consultation on the expansion of the UK Emission Trading Scheme to the waste sector, which was first announced in July 2023.

May 2024

Scotland has passed the Circular Economy Bill which gives ministers and local authorities the tools required to increase reuse and recycling rates as well as modernise and improve waste and recycling services.

June 2024

The Court of Appeal has held that the UK NCA's refusal to investigate allegations of cotton imports from China's Xinjiang Uyghur Autonomous Region being potentially linked to forced labour was unlawful. The Court of Appeal, however, found that the NCA's reasons for refusing to investigate were legally flawed and mandated a reconsideration of the decision to investigate.

June 2024

The Financial Markets Standards Board has published a Transparency Draft of Standard for the sharing of SSIs. The Transparency Draft is applicable to firms when sharing their own SSIs, or where they manage their clients’ SSIs as part of their commercial relationship.

June 2024

In R. (on the application of Boswell) v Secretary of State for Energy Security and Net Zero [2024] EWHC 2128 (Admin), the High Court has dismissed an application for judicial review of the grant of development consent for the Net Zero Teesside Project, finding that the decision that the Project would help deliver the Government's net zero commitment was lawful and supported by national policy.

August 2024

The government is set to remove higher thresholds for strike action. It is understood the Labour government will reverse the changes, which took effect in 2017, as part of its planned overhaul of trade union laws. Legislation to enact the changes will start its journey through Parliament before mid-October.

August 2024

The Financial Conduct Authority provides a limited extension to compliance with the sustainability disclosure requirements naming and marketing regime until 5pm on 2 April 2025 for firms seeking to use an investment label or change the name of their product to remove one or more of the restricted terms, where the firm has submitted a completed application to the Financial Conduct Authority for approval of the amended disclosures of that product by 5pm on 1 October 2024.

September 2024

The Water (Special Measures) Bill has been introduced to Parliament

September 2024

The Department for Business and Trade has released guidance on UK Sustainability Reporting Standards. This follows from the UK government planning to establish a framework to assess the suitability of IFRS S1 and IFRS S2 for endorsement in the UK.

September 2024

A pilot version of the UK Net Zero Carbon Buildings Standard, UK's first cross-industry Standard that brings together Net-Zero Carbon requirements for all major building types, was published.

September 2024

The UK Court of Appeal has granted an appeal in the claim of two rural Nigerian communities who allege that Shell caused devastating pollution to their land.

October 2024

The UK Government has introduced the Employment Rights Bill to the House of Commons where it was given its first reading on 10 October 2024. Members of Parliament will consider the bill at second reading stage in late October. The bill proposes 28 individual employment reforms, including ending zero hours contracts and fire-and-rehire practices, removing the existing two-year qualifying period for protections from unfair dismissal, establishing day one rights for paternity, parental and bereavement leave, and strengthening statutory sick pay.

October 2024

The UK Government has reaffirmed its commitment to combatting climate change by allocating up to £21.7 billion to carbon capture and storage projects.

October 2024

Building on the Competition and Markets Authority (CMA)'s Green Claims Code, and its recent consumer protection investigation -which culminated in ASOS, Boohoo and Asda agreeing to change how they promote their green credentials - the CMA has published new guidance for fashion businesses to avoid "greenwashing"

October 2024

The Competition Appeal Tribunal heard applications for collective proceedings orders (CPO) in a class action brought against six water companies in England (Thames Water, Yorkshire Water, Anglian Water, Severn Trent, Northumbrian Water and United Utilities). This is the first ever environmental competition law class action brought in England.

October 2024

UK and Australia announce upcoming Australia-UK Climate and Energy Partnership

October 2024

U.S. Department of Energy announced a National Definition of a Zero Emissions Building to advance public and private sector efforts to decarbonise the buildings sector

June 2024

The U.S. Department of Transportation finalised new fuel economy standards for passenger cars and light trucks. The Standards require automakers to improve fuel efficiency by 2% per year for passenger cars for model years 2027-2031 and 2% for light trucks for model years 2029-2031. These standards save Americans more than USD 23 billion in fuel costs while reducing pollution

June 2024

U.S. Environmental Protection Agency, the U.S. Department of Agriculture and the U.S. Food and Drug Administration announced a national strategy for reducing food loss and waste and recycling organics. The strategy provides tangible goals that U.S. government partners and retailers can work toward to help prevent the loss and waste of food and increase recycling of organic materials

June 2024

The U.S. Department of Energy released new Supply Chain Cybersecurity Principles (the Principles), developed in collaboration with Idaho National Laboratory. The Principles establish best practices for cybersecurity throughout the supply chain that supports energy infrastructure

June 2024

The Biden-Harris Administration released over 20 updated Climate Adaptation Plans from major federal agencies, detailing actions to address climate change effects on operations and mission delivery

June 2024

U.S. Department of the Interior awarded USD 126.7 million through President Biden’s Investing in America agenda for Alaska, Arizona, Indiana, New York and Ohio to address legacy pollution

June 2024

SEC postponed the release of a final rule to enhance ESG disclosures and proposed rule improving how companies report their workforce and human capital management data to October 2024, and the timeline to propose a corporate board diversity rule to April 2025

June 2024

Amendments to the National Emission Standards for Hazardous Air Pollutants for Lime Manufacturing Plants became effective on 16 September 2024. The amendments establish maximum achievable control technology standards for hydrogen chloride, mercury, organic hazardous air pollutants and dioxin/furans

September 2024

U.S. Nuclear Regulatory Commission's final rule, amending its environmental protection regulations, came into effect. The amendments update the NRC's 2013 findings on the environmental impact of renewing the operating license of a nuclear power plant, redefining the number and scope of environmental issues that must be addressed during the review of each application for license renewal

September 2024

U.S. Securities and Exchange Commission dissolved its Enforcement Division’s Climate and ESG Task Force

September 2024

California Governor Gavin Newsom has signed into law the Climate Corporate Data Accountability Act, a law passed in 2023. This legislation mandates that large businesses operating in California disclose their value chain emissions and report on climate-related financial risks. Despite concerns about companies' ability to meet the requirements, the law maintains its initial implementation date of January 1, 2026

September 2024

The state of California filed a complaint in the Superior Court of the State of California against Exxon Mobil Corp. claiming that Exxon has inundated the state with harmful plastic waste and has also misled customers about Exxon's recycling abilities. California argues that Exxon's promises of "advanced recycling" or "chemical recycling" to address plastic waste are deceptive as Exxon is aware that it cannot recycle the volume of new plastic being produced. California further argues that the bulk of the plastic waste Exxon processes is turning into fuel instead of recycled plastics. plastic pollution and recycling deception claims

October 2024

The state of California signed into law Assembly Bill 2515, which bans the sale of menstrual products containing per and polyfluoroalkyl substances (PFAS) , regardless of whether such substances were added intentionally or unintentionally. The law prohibits by 2025 the manufacture and sale of menstrual products that intentionally contain PFAS. If PFAS have been added unintentionally, the law requires that by 2027, manufacturers keep it below a level determined by the U.S. Department of Toxic Substances Control

October 2024

EFRAG and TFND publish joint correspondence mapping paper on commonalities between the ESRS and TFND disclosure recommendations and metrics

June 2024

Global Reporting Initiative launches update of standards for employment practices and working conditions

June 2024

Network for Greening the Financial System publishes second edition of guide on climate-related disclosure for central banks

June 2024

United Nations Environment Programme Finance Initiative publishes "A Path to Net Zero: A Climate Mitigation Journey for Banks

June 2024

The ISO announces plans to launch Global Net Zero Standard

June 2024

Ministers from the G7 countries agreed to end the use of unabated coal power plants by 2035 – but left the door open for those heavily reliant on coal to breach the deadline

June 2024

The IFRS unveils that jurisdictions representing more than half of the global economy have announced steps to use or align with the ISSB disclosure standards

June 2024

The Green, Social, and Sustainability-Linked Bond Principles announce guidance for green enabling projects and guidelines for Sustainability-Linked Loan financing Bonds (SLLB)

June 2024

The TNFD issues additional guidance for financial institutions on the TNFD's recommended disclosures

June 2024

IFRS takes over monitoring of TCFD disclosures

June 2024

The Financial Stability Board (FSB) publishes a "Stocktake" on nature-related financial risks, such as biodiversity loss

June 2024

The GRI and the TNFD announce the publication of a joint interoperability mapping resource

June 2024

UN member states approve a treaty targeting cybercrime

August 2024

The Integrity Council for the Voluntary Carbon Market (ICVCM) announces that approximately one third of existing carbon credits have fallen short of its Core Carbon Principle (CCP) standards

August 2024

The World bank (International Bank for Reconstruction and Development, IBRD) issued the Amazon Reforestation-Linked Outcome Bond

August 2024

The UN Environment Programme's 2024 Emissions Gap Report highlights that global greenhouse gas emissions are at a record high, urging immediate action to prevent catastrophic temperature rises

October 2024

The Network for Governing the Financial System (NGFS) publishes report on the green transition and the macroeconomy with a monetary policy perspective

October 2024

UN releases its final report on "Governing Al for Humanity"

October 2024