Regulation Archive

Regulation

Consistent, sustainable corporate investments: Anticipating regulation and reducing reputational risks

Nov 22, 2021
Jan Rabe
Consistent, sustainable corporate investments: Anticipating regulation and reducing reputational risks
The European Commission’s (EC) requirements for sustainability reporting already affect a significant portion of investments made by companies. Certain areas, however – such as strategic liquidity management, cover-funds from direct employer pension commitments and lump-sum support funds for corporate pension plans – have been omitted from regulation so far. This could change if the legislator wants to achieve transparency without contradiction and ambiguity. ...
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Regulation

SEC reveals new guidance on shareholder proposal exclusions

Nov 09, 2021
Ben Maiden
SEC reveals new guidance on shareholder proposal exclusions
The SEC’s division of corporation finance has updated its guidance on the process whereby companies seek permission to exclude shareholder proposals, potentially opening the door for more ESG-related measures to end up on proxy statements in 2022 and beyond. The division on November 3 issued a notice that it is rescinding three staff legal bulletins – ...
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Regulation

Directors need to be held accountable for corporate purpose commitments, report says

Oct 12, 2021
Maria Ward-Brennan
Directors need to be held accountable for corporate purpose commitments, report says
Board directors should be held accountable for determining and implementing the purposes of their companies, according to a British Academy report. Corporate purpose has been an evolving topic in recent years. In August 2019, the Business Roundtable released its Statement on Corporate Purpose, which outlined a modern standard for corporate responsibility. Shortly after that, in 2020, the World Economic Forum launched a new Davos Manifesto with the objective o...
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Regulation

Profiling the Corporate Sustainability Reporting Directive

Sep 30, 2021
Tim Human
Profiling the Corporate Sustainability Reporting Directive
If the EU is to meet the challenging goals it has set itself on sustainability, companies need to play their part. The trade bloc’s policy aims – collectively referred to as the European Green Deal – include becoming the first world's net-zero continent and shifting to a ‘circular economy’ where economic growth no longer relies on the Earth's natural resources. To help meet these objectives, the EU Commission has proposed the Corporate Sustainability Repor...
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Regulation

CII seeks better ESG disclosures under accounting rules

Sep 23, 2021
Ben Maiden
CII seeks better ESG disclosures under accounting rules
The Council of Institutional Investors (CII) has urged FASB to make ESG-related disclosures one of its top priorities amid growing pressure for companies to enhance reporting around those issues. Specifically, CII believes FASB could improve ESG-related reporting concerning human capital management, climate change and income taxes. CII was writing in response to FASB’s request for comment on its agenda.  CII general counsel Jeffrey Mahoney writes that the ...
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Regulation

Huge investor coalition calls on governments to accelerate climate action

Sep 14, 2021
Tim Human
Huge investor coalition calls on governments to accelerate climate action
A huge investor coalition has urged national governments to accelerate policy changes that will support investment in climate change solutions. A group of 587 investment firms with a collective $46 tn in assets under management has called on governments to take a range of actions, from strengthening emissions targets to mandating climate reporting and ending fossil fuel subsidies. Signatories to the ...
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Regulation

SEC gives green light to Nasdaq board diversity plan

Aug 09, 2021
Ben Maiden
SEC gives green light to Nasdaq board diversity plan
The SEC on Friday approved Nasdaq’s plan to promote diversity on boards. The move opens the door for Nasdaq to require companies listed on the exchange to have – or explain why they do not have – at least two diverse board members, including one who self-identifies as female and one who self-identifies as either an under-represented minority or LGBTQ+. Nasdaq-listed companies will also have to disclose in aggregate form the voluntary self-identified gen...
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Regulation

Gensler expects climate disclosure proposal by year-end

Aug 04, 2021
Ben Maiden
Gensler expects climate disclosure proposal by year-end
SEC chair Gary Gensler has given issuers a heads up on when they can expect to see the agency’s plans for requiring companies to report on climate risk and what that may entail. In remarks to the Principles for Responsible Investment last week, Gensler said he has asked the SEC staff to develop a mandatory climate risk disclosure rule proposal by the end of the year. He outlined elements he wishes to see in such disclosures, including that they are consiste...
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