Governance and stewardship news

The UK Sustainable Investment and Finance Association (UKSIF) has warned the government that climate wavering risks its position as a world leader in sustainable finance.

A disconnect between executives and their employees on ESG regulation could mean companies are still not ready to abide by emerging requirements, a study by software-as-a-solution provider Workiva and consultancy PwC.

Intercontinental Exchange (ICE) is pressing for avoided emissions to be included in mainstream investment analysis after developing a new framework with Ecofin Advisors to address the often-overlooked area.

The Securities Industry and Financial Markets Association (SIFMA) has filed a complaint over two Missouri Securities Division rules on providing financial advice based on ESG factors.

The California State Teachers’ Retirement System (CalSTRS) escalated its efforts to hold global companies to account after they did not provide sufficient climate risk disclosures to accurately assess emissions.

The Taskforce on Nature-related Financial Disclosures (TNFD) has recommended creating a global nature-related public data facility.

The Australian and US national financial regulators are taking legal action against companies accused of greenwashing funds and misleading investors.

A new set of UK standards based on the IFRS Sustainability Disclosure Standards are to be rolled out that will enable companies to flag any sustainability-related risks and opportunities that they face.

Some of the world’s largest asset managers are far off track on meeting their 2050 net zero commitments, a study by data tool FinanceMap has found, with many failing to improve their climate performance over the past two years.

Many top corporations unprepared for ESG tax reporting obligations. Just a small minority of large US companies are able to share their total worldwide tax contributions, as pressure from stakeholders and regulators over ESG disclosure grows, a new survey from KPMG shows.

The French national assembly has adopted a “Say on Climate” amendment to its Green Industry Bill, requiring all companies to establish climate and sustainability strategies.

The Republican-led US congressional Financial Services Committee (FSC) has proposed a series of bills that are designed to limit the impact of ESG initiatives.

The Australian Securities & Investments Commission (ASIC) has filed a lawsuit against Vanguard’s Australian entity for not applying appropriate ESG filters on some of its supposedly ethical funds.

The Financial Reporting Council (FRC) has welcomed the UK government’s draft statutory instrument on corporate reporting, which introduces new requirements for companies.

Sustainability advocacy group Investors Agenda has updated its Investor Climate Action Plans (ICAP) Expectation Ladder, with new measures including deforestation actions.

Some of the biggest UK asset managers have withdrawn their support for a shareholder resolution to cut carbon emissions.