XP 49 Financial Industry Consultants

1st January 2022 – EC Taxonomy Amendments proposal for Natural Gas and Nuclear

2022-01-17T17:00:59+00:00

An internal document to the European Commission (EC) proposing amendments to the EU Taxonomy has been released (see the Euractiv web URL below). On 1 January, the EC announced that it had begun consultations on a draft delegated act, with the Platform on Sustainable Finance and a Member States sustainable finance expert group, as it [...]

1st January 2022 – EC Taxonomy Amendments proposal for Natural Gas and Nuclear2022-01-17T17:00:59+00:00

25th November 2021 – European Commission postpones SFDR RTS

2021-12-06T19:09:27+00:00

Following the submission of draft RTS for the SFDR (Sustainable Finance Disclosure Regulation) by EBA, EIOPA and ESMA (jointly), the European Commission had 3 months to approve and adopt the text. But the complexity and length of the RTS mean that the EC won't be able to respect the deadline. Additionally, the EC wants to [...]

25th November 2021 – European Commission postpones SFDR RTS2021-12-06T19:09:27+00:00

19th November 2021 – UN PRI Position Paper on EU Taxonomy

2021-12-05T17:26:10+00:00

The UN PRI published a Position Paper on the EU Taxonomy discussion, opposing the inclusion of gas-fired power plants and nuclear energy in the Taxonomy, as acceptable "green" and DNSH activities.   Access to the PRI paper: https://www.unpri.org/download?ac=15189&adredir=1  

19th November 2021 – UN PRI Position Paper on EU Taxonomy2021-12-05T17:26:10+00:00

15th November 2021 – EC Consultation on Strengthening Corporate Reporting Quality & Enforcement

2021-12-05T16:35:03+00:00

The European Commission consultation is open to comment until 4th February 2022. The focus of this consultation is on: 1) the impact of the EU framework on the quality and reliability of corporate reporting, including the 3 pillars of corporate governance, audit and supervision. 2) Corporate Governance in the context of reporting 3) Audit effectiveness, [...]

15th November 2021 – EC Consultation on Strengthening Corporate Reporting Quality & Enforcement2021-12-05T16:35:03+00:00

4th November 2021 – International Platform on Sustainable Finance (IPSF) Common Ground Taxonomy

2021-11-25T18:17:31+00:00

The IPSF is, essentially, a collaboration between the EU and China to create a common Taxonomy, starting from the EU version perhaps but with a very strong lead by China. It will be very interesting to see the evolution of that initiative and how it may collide with the EU internal debates on whether, for [...]

4th November 2021 – International Platform on Sustainable Finance (IPSF) Common Ground Taxonomy2021-11-25T18:17:31+00:00

26th October 2021 – European Commission Publishes 3 Reports linked to Climate Change

2021-11-25T17:16:37+00:00

The 3 reports are: - the State of the Energy Union, - the functioning of EU Carbon Markets, and - a progress report on Climate Action in the EU   Access to the State of the Energy Union report: https://ec.europa.eu/energy/sites/default/files/state_of_the_energy_union_report_2021.pdf To find the EU Carbon Markets report: https://ec.europa.eu/clima/system/files/2021-10/com_2021_962_en.pdf Climate Action Progress Report: https://op.europa.eu/en/publication-detail/-/publication/ab9b901f-365d-11ec-8daf-01aa75ed71a1/language-en

26th October 2021 – European Commission Publishes 3 Reports linked to Climate Change2021-11-25T17:16:37+00:00

31st August 2021 – European Commission Draft Regulation on EONIA Benchmark Replacement + ISDA Response

2021-09-12T15:17:03+00:00

31/08/2021 ISDA stresses the need to have clear Implementing Regulations in place as soon as possible, to facilitate the transition or alternative arrangements, in particular for complex contracts. This is a recurring theme across jurisdictions, with a risk that legal disputes will derail a smooth transition. See the European Commission publication here - https://ec.europa.eu/info/law/better-regulation/have-your-say/initiatives/13120-Interest-rates-Statutory-replacement-rate-for-the-EONIA-benchmark_en See [...]

31st August 2021 – European Commission Draft Regulation on EONIA Benchmark Replacement + ISDA Response2021-09-12T15:17:03+00:00
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