ESG Regulation:
ESMA, EBA and EIOPA Issues Opinions on Sustainability Reporting Standards
Three European regulation authorities (ESMA, EBA and EIOPA) issued their opinions on the draft of European Sustainability Reporting Standards (ESRS for short), the first edition published by the European Financial Reporting Advisory (EFRA) in November last year. The purpose of ESRS is to establish a common European sustainable reporting standard to promote the development of ESG and keep pace with global sustainable development.
ICMA Responds to Sustainability Disclosure Requirements and Investment Labels
The International Capital Market Association (ICMA) replied to the draft Sustainability Disclosure Requirements (SDR) issued by the Financial Conduct Authority (FCA) and advised on the three types of sustainable investment labels. ICMA believes that the proposal of SDR can help the financial industry to make greater contributions in the transformation of low-carbon economy, and the establishment of investment labels can facilitate the sustainable product development of asset management companies and help investors to select appropriate financial products.
Deep Dive on EU Green Deal Industrial Plan
The European Union recently announced the launch of the European Green Deal Industrial Plan to enhance the development of Europe’s net zero economy and support climate-neutral transition.
ESG Research:
WEF Releases Voluntary Carbon Market Report
The World Economic Forum (WEF) released a report on the Voluntary Carbon Market (VCM) to analysis of the current factors affecting the development of the market, and put forward suggestions for carbon emission enterprises to participate.
DTCC Releases Climate Financial Risk Report
Depository Trust & Clearing Corporation (DTCC) issued a climate financial risk report, describing the impact of climate risk on itself and other financial market infrastructures (FMIs). DTCC believes that climate change is bringing risks in the economic and financial fields. These risks include both physical risks directly caused by climate events and transition risks indirectly caused by the transition to a low-carbon economy.
Nuveen Releases Responsible Investing Survey
Nuveen, an asset management company, recently released the seventh edition of the survey report on responsible investing, detailing investors’ views towards responsible investment last year. The sharp fluctuations in the global stock and debt markets in 2022 did not dampen investors’ enthusiasm for responsible investment, but rather hoped to reduce the volatility of the asset portfolio through this way.
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