Michael Hsu, the acting comptroller of the US Office of the Comptroller of the Currency (“OCC”), unveiled the concept of climate redlining as a new aspect of his agency’s initiative for addressing climate-related financial risks. He recognized an inherent tension between the goals of lending to underserved communities and managing climate-related financial risks.

At the intersection of Tax and ESG and there are increasing external pressures for greater transparency into a company’s global tax position.

The sustainable investing market is witnessing remarkable growth. The field, however, has been challenged by greenwashing claims and a lack of consistency in identifying what, exactly, makes an investment “sustainable”.

Evaluating, and comparing, the ESG credentials of different investment products presents significant difficulties. In a welcome development in the move towards addressing these issues,the CFA Institute, a global association of investment professionals, published its first voluntary Global ESG Disclosure Standards for Investment Products (the “Standards”).

Many UK companies will soon be mandated to make TCFD-aligned disclosures. This follows the Financial Conduct Authority’s (FCA) introduction of the Listing Rules (Disclosure of Climate-Related Financial Information) Instrument in December 2020, which requires companies with a UK premium listing to disclose on a comply-or-explain basis against the Task Force on Climate-related Financial Disclosures (TCFD) recommendations in their annual reports.

On October 26, just a week before the Glasgow Climate Change Conference (COP26), 70 NGOs led by Observatório do Clima filed a public civil action claiming that the current Brazilian National Policy on Climate Change, set forth by Law no. 12,187/2009, is inadequate and unable to provide a response to the current climate crisis.