Christmas is coming early to the ESG bond market as the new EU Green Bond Standard applies from 21 December 2024.
The new standard is conceptually similar to existing ICMA use of proceeds standards but quite different in the detail.
Under the standard, net proceeds, subject to certain exceptions, must be allocated to EU taxonomy-aligned
The Basel III standards comprise a package of reforms that were largely agreed by the Basel Committee on Banking Supervision (“BCBS”) in December 2017 and set out in the BCBS standard “Basel III: Finalising post-crisis reforms” (BCBS 424).
To implement these standards, the European Commission has amended the Capital Requirements Regulation (Regulation (EU) 575/2013, as
On 14 May 2024, the European Securities and Markets Authority (“ESMA“) published its final report on “Guidelines on funds’ names using ESG or sustainability-related terms” (the “Guidelines“). The Guidelines aim to provide fund managers with clear and measurable criteria to assess their ability to use ESG and/or sustainability-related terms
The EU Corporate Sustainability Reporting Directive (“CSRD“) entered into force on 5 January 2023 and the associated European Sustainability Reporting Standards (“ESRS“) were adopted by the European Commission on 31 July 2023. Together, the CSRD and ESRS create detailed sustainability reporting requirements that will apply to a significant number of EU
On 11 July 2023, the European Securities and Markets Authority (ESMA) published a public statement on sustainability disclosure in prospectuses.
The statement is addressed to the National Competent Authorities (NCAs) to promote coordinated action regarding sustainability-related disclosure included in prospectuses under current legislation. While the statement is addressed to NCAs, ESMA have said that its
The risk of an accusation of “greenwashing” is now an important concern for many companies. Greenwashing is an ill-defined concept but, nevertheless, is increasingly a source of litigation and regulatory scrutiny – with more of both expected. It carries with it reputational, regulatory and litigation risks for which companies should be prepared. Whilst the risks
In this briefing, we take a look at the EU Green Bond Standard.
The Council of the European Union and the European Parliament recently announced that provisional agreement on the European Green Bond Standard had been reached. The consolidated legal text is now widely available and can be viewed here along with a blackline against
On 28 February 2023, the Council of the European Union and the European Parliament reached a provisional agreement on the creation of the European Green Bond Standard (“EU GBS“).
The idea of an EU Green Bond Standard has been in development for many years. An initial proposal for a European standard for green bonds
Earlier this month, the European Commission proposed wide-ranging measures designed to facilitate further development of the EU’s capital markets, including through a new Listing Act; by making EU clearing services more attractive and resilient; and by harmonizing certain corporate insolvency rules across the EU.
Following the firm’s webcast on these proposals, we are sharing with
On 10 November 2022, the EU Parliament adopted the Corporate Sustainability Reporting Directive (“CSRD”). The EU Council is expected to adopt the CSRD on 28 November 2022, after which it will be published in the Official Journal. The CSRD will then enter into force 20 days after publication and EU member states will have 18