Vale

The Securities and Exchange Commission (SEC) has charged Brazilian mining company Vale S.A. with making “false and misleading” claims about the safety of its dams prior to the collapse of the Brumadinho dam which killed 270 people. 

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HSBC

The UK’s Advertising Standards Authority (ASA) has accused HSBC of misleading customers in its adverts on the company’s green initiatives, according to a draft recommendation seen by the Financial Times.

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Shareholder activism

A record number of climate-related shareholder votes are expected to be filed with major oil and gas companies in 2022, according to S&P Global Market Intelligence.

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Carbon emissions, net-zero

The Science Based Targets initiative (SBTi) is publishing a new ‘Foundations’ paper that provides financial institutions with new concepts for defining and tackling net-zero targets.

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Canada Parliament

Financial institutions including banks and insurers will be required to publish climate disclosures aligned with the TCFD framework.

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Netherlands

The Netherlands is currently consulting on changes to its corporate governance code, including plans to better integrate ESG factors.

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Human Rights, United Nations

UN Secretary-General António Guterres has launched an ‘Expert Group’ to ensure businesses, investors and other non-state entities keep up the pace and fulfil their net-zero emissions pledges.  

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ESMA pulls back from ESG legislation for rating agency methodology

The Platform on Sustainable Finance, an expert group of the European Commission, has proposed a significant expansion of the EU’s Taxonomy for sustainable finance.

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SEC lambasted over shareholder rights change as companies fail to meet ESG targets

New rules requiring US-listed companies to disclose various climate-related risks have been proposed by the country’s financial regulator.

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biodiversity

TNFD, the Taskforce on Nature-related Financial Disclosures, has launched a beta version of its nature-related risk-management and disclosure framework, in what it called “an important step” by the market to enable organisations to report and act on evolving nature-related risks.

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