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ESG and Sustainability Monitor

Latest ESG and Sustainability Developments

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Asia-Pacific Region

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The Sapporo Securities Exchange has announced that it will establish a market exclusively for institutional investors dealing in ESG bonds around the autumn of 2025.June 20, 2025

Japan

The Singapore Business Federation (SBF), Singapore’s key business association representing over 32,000 companies, released a statement asking regulators to delay climate-related disclosure requirements for smaller companies, set to begin from this year, by one to two years, to give businesses more time to prepare. The statement follows the announcement in early 2024 by the government of Singapore that it will implement mandatory climate-related reporting requirements for listed and large non-listed companies.June 2025

Singapore

The Japanese Diet amended the Act on the Promoting Transition to the Decarbonized Growth Economic Structure (GX Promotion Act).May 28, 2025

Japan

The Sustainability Standards Board of Japan (“SSBJ”) issues Inaugural Sustainability Disclosure Standards to be applied in Japan.March 5, 2025

Japan

The Mandatory Provident Fund Schemes Authority issued a circular letter “Enhancing Disclosure Requirements for ESG Constituent Funds.”February 24, 2025

Hong Kong

The Hong Kong Monetary Authority published the Adoption Practice Guide on Greentech in the Banking Sector.February 18, 2025

Hong Kong

EU

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Provisional Agreement on CSRD and CS3D AmendmentsDecember 11, 2025

EU

Circular Economy Act – Public ConsultationSeptember 2, 2025

EU

EFRAG Seeks Input on its Proposals for Simplified European Sustainability Reporting Standards (ESRS)September 2, 2025

EU

Significant Fines Imposed on Shein for Misleading Environmental Claims in EuropeAugust 13, 2025

EU

The European Commission adopted the Delegated Act C(2025) 4568, amending the Taxonomy Disclosures, Climate and Environmental Delegated Acts and introducing major simplifications to the EU Taxonomy reporting framework for financial and non-financial undertakings.July 4, 2025

EU

The Council of the EU adopted its position on the Omnibus proposal to simplify CSRD and CS3D.June 21, 2025

EU

International

From Vanuatu to The Hague: The International Court of Justice’s Landmark Climate Advisory Opinion

UN Member States at the Fourth International Conference on Financing for Development, held in Seville, endorsed a set of commitments aimed at mobilizing finance for sustainable development goals including a promise to back mandatory sustainability reporting using global standards such as ISSB and GRI.

The International Sustainability Standards Board (ISSB) announced a comprehensive review of priority SASB Standards and amendments to others.

The International Sustainability Standards Board (ISSB) announced that the Global Sustainability Standards Board (GSSB) has granted equivalence to IFRS S2 Climate-related Disclosures for entities preparing disclosures of greenhouse gas (GHG) emissions under GRI 102, the new climate standard issued today by the GSSB.

ISSB announced the launch of a legal opinion on climate transition plans and corporate risk.

North America

The California Air Resources Board (CARB) published California Corporate Greenhouse Gas Reporting and Climate-Related Financial Risk Disclosure Programs: Frequently Asked Questions Related to Regulatory Development and Initial Reports.

The California Air Resources Board (CARB) hosted a Virtual Public Workshop on SB 253, SB 261, and SB 219.

The U.S. Securities and Exchange Commission (SEC) Voted to End its Defense of Climate Disclosure Rules.

President Donald J. Trump issued an Executive Order entitled “Ending Illegal Discrimination and Restoring Merit-Based Opportunity.”

January 21, 2025

The California Air Resource Board (CARB) issued an Enforcement Notice for the Climate Corporate Data Accountability Act (SB 253, as amended by SB 219).

December 5, 2024

UK

The FCA published a Policy Statement on extending existing non-financial misconduct rules to non-bank institutions, and a Consultation Paper requesting views on whether additional guidance is required to support all authorised firms applying non-financial misconduct rules consistently.

The UK government published consultations seeking views on the adoption of UK Sustainability Reporting Standards (SRS), which are based on the IFRS International Sustainability Standards Board standards. If endorsed, the UK government aims to publish the final UK SRS in autumn 2025.

The UK government published consultations on a potential assurance regime for sustainability-related financial disclosures.

The UK government published consultations introducing climate-related transition plan requirements for large companies, financial institutions and FTSE 100 companies, which closes on September 17, 2025.

The UK government published a consultation on adopting a UK Green Taxonomy as part of the UK’s sustainable finance framework.

November 14, 2024

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