RegTech Insight ESG The latest content from across the platform
Corlytics, First Derivative Win Funding for ‘Groundbreaking’ ESG Taxonomy Project
RegTech provider Corlytics and managed services group First Derivative have received funding to jointly develop an open-source ESG taxonomy mapping project. The companies received a “reasonably considerable amount” from Irish advocacy group Sustainable Finance Ireland (SFI). The money will help build out what the companies describe as the world’s first open-source taxonomy tool. Once compiled,…
EFRAG Names 71 Experts to Create Standards Proposals
The body charged with drafting sustainability reporting standards for the European Union’s regulators has put in place a team of 71 experts to begin the process. The European Financial Reporting Advisory Group (EFRAG) appointed experts from finance, academia, industry, NGOs and the small business sector. They will sit on 11 Expert Working Groups that have…
SEC Reiterates it Has Powers to Prosecute Greenwashing
US financial watchdog the Securities and Exchange Commission (SEC) has warned that it will come after companies who make false ESG claims or commit vital data in their disclosures. Division of Enforcement Director Gurbir Grewal reminded a conference in Washington DC that rules that applied to the selling of financial products were also relevant to…
More Net-Zero Guidelines from UK Regulator, Institutions
The UK’s Financial Conduct Authority (FCA) has become the latest British financial overseer to issue proposed ESG guidelines. The regulator’s ESG Strategy details how it will monitor financial institutions’ management of climate-related risks. That coincided with the publication of a report by UK-based financial firms on how they can help bring about a decarbonised world….
Singapore RegTech Plan Signals Asian Maturity in ESG Approach
Singapore’s recent decision use RegTech to tackle greenwashing illustrates the strides leading Asian economies are making to toughen regulation of sustainable finance. The announcement at the city state’s annual fintech conference coincides with the release of a white paper by the Fintech Association of Hong Kong (FAHK). The document lays a vision of an ESG…
Bank of England Climate Tests Criticised, but Could Show Route to Net-Zero
The Bank of England’s examination of the lending sector’s vulnerabilities to climate-related shocks has come under fire even as gaps exposed in the exercise have helped show how the industry can decarbonise. The London-based central bank has been accused of giving banks and insurers an easy pass on proofing their lending activities against climate risks….
CGS Adds Sustainability Categorisation to Bonds
CUSIP Global Services (CGS) has incorporated ESG indicators for US corporate and municipal bonds within its data feeds. The unit of S&P Global now provides classifications of issuances according to their sustainability attributes. The new feed uses International Capital Market Association (ICMA) and Climate Bonds Initiative methodologies to identify the securities as green, social or…
LSEG and JPXG to Launch TOPIX-based Climate Indices
New climate indices are to be launched based on the TOPIX 500, offering investors a net-zero benchmark for companies listed on Japan’s stock market. Compiled by London Stock Exchange Group (LSEG) and Japan Exchange Group (JPX), the FTSE/JPX Net Zero Index Series will be based on the European Union’s Climate Transition Benchmark and will be…
Goldman Sachs Adds Carbon Footprint Measures to Marquee
US investment bank Goldman Sachs has built carbon footprint analyses of companies covered on its Marquee digital marketplace, enabling institutional investors to track the emissions of stocks and corporate bonds within their portfolios. The calculations are based on Scope 1 and Scope 2 emissions data as well as carbon intensity levels and net-zero commitments. Users…
UK’s FCA Seeking Views on ESG Product Labelling
The UK’s financial watchdog is seeking views from market participants on how investment products should be labelled with regard to their sustainability and corporate social responsibility profiles. The Financial Conduct Authority said it was also gathering opinions on supporting entity-level and product-level disclosures. The announcement was made on Finance Day at the COP26 UN climate…