ESG Regulations: changes from a legal perspective
Although some of the legal provisions do not apply immediately, there is a need to act quickly. Preparing for the mandatory changes that are coming will take some time. On the following pages, you’ll find our concrete solutions addressing key areas of the ESG regulations as well as the appropriate contact persons to assist you.
The Taxonomy Regulation is the EU's response to the current climate and environmental challenges. It creates the framework for a uniform classification system throughout the EU for sustainable economic activities and increasingly encourages companies to meet their obligations to protect the environment. But the road to greater transparency in terms of sustainability is rocky, and companies often lack...
The Corporate Sustainability Reporting Directive states that every company must report on its sustainability activities from 2024 onwards (for fiscal year 2023) if at least two of the following criteria apply: it has over 250 employees, more than 20 million euros in total assets, or over 40 million euros in sales. Many small and medium-sized businesses are unaware of the effort involved and ill-prepared...
Complying with the German Supply Chain Due Diligence Act (“Lieferkettensorgfaltspflichtengesetz”), in addition to the even stricter EU supply chain law that is being developed right now, is an unavoidable obligation for many companies of a certain size and number of employees. To fulfil future legal obligations as well as social expectations regarding due diligence throughout the entire supply chain...
Complex ESG regulations such as the EU taxonomy or the Corporate Sustainability Reporting Directive (CSRD) require companies to disclose their sustainability data and, in some cases, create new internal structures. Failure to comply with ESG regulations can result in serious consequences from reputational damage to economic losses to prison sentences and fines. The more complex these ESG regulations...
By making their business activities and their environmental impacts transparent, companies put themselves ahead of the competition and can thereby strengthen the trust of customers, business partners, and investors. This has a lasting positive effect on the company’s development and also on its reputation as an employer. The recommendations of the Task Force on Climate-related Financial Disclosures...
Sustainability and climate change are the current focus of insurance-specific regulations. The guidelines also take into account opinions issued by the European Insurance and Occupational Pensions Authority (EIOPA) in April 2021. These opinions require that insurance companies analyse their climate risks and disclose the results in an Own Risk and Solvency Assessment (ORSA) report. Our experts will...
Since March 2021, financial market participants and financial advisers have been obligated by the new Sustainable Finance Disclosure Regulation (SFDR) to provide pre-contractual information and ongoing disclosures in regular reports and on websites to end investors.
Durch eine Vielzahl an neuen Regularien in verschiedenen Ländern hat das Thema Nachhaltigkeit deutlich an Aufmerksamkeit gewonnen. Besonders die EU verfolgt das Ziel, Finanzmittel für die notwendige Transformation in Richtung einer nachhaltigen Wirtschaft zu mobilisieren und umzulenken.
Die Aspekte Environment, Social und Governance – zusammengefasst im Kürzel „ESG“ – rücken in der Finanzwirtschaft immer stärker in den Fokus. Denn wie sicher Investitionen sind, hängt zunehmend davon ab, wie nachhaltig Unternehmen handeln und damit die Erwartungen und Vorgaben von Politik und Konsument*innen erfüllen. Entsprechend lenken Finanzmarktakteure, wie z. B. Kreditinstitute, Versicherungen...
Financial institutions increasingly recognise that climate change and other environmental, social and corporate governance risks jeopardise the world’s economy and financial system.
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