Regulation

Australia’s Treasury launches second consultation on design of standards.

Asset owners and regulators express support for first standards from global sustainability reporting body.

The latest developments in sustainable finance: ShareAction calls for action on ethnicity pay gap reporting; Over 50% of Europe’s big banks to consider nature risks in stress tests and climate scenario analysis.

Republican commissioner Mark Uyeda suggests US firms could bypass SEC when determining whether a shareholder proposal should go to the vote.

EU’s standard setter seeks candidates from banks, capital markets and insurers for new panels; ISSB opens Beijing office.

Speaking at RI Europe, he also commented on recently released measures to regulate ESG ratings, guidance on transition finance and the shelving of the EU Ecolabel.

The EC’s long-awaited sustainability reporting rules proposal has moved away from mandatory reporting indicators and made some disclosures entirely voluntary.

It comes as the EU gears up to unveil proposals relating to transition finance next week.

The committee will submit the final label proposal to the French finance minister by mid-July.

ASIC chair Logan said the regulator will ‘not look kindly’ on those who are not prepared for upcoming climate regulatory and disclosure requirements.