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EU and global sustainable finance and ESG—timeline

EU and global sustainable finance and ESG—timeline This timeline outlines the key developments relating to sustainable finance and environmental, social and governance (ESG) in the financial sector (and associated requirements, such as disclosures, transition plans) from an EU and international perspective. Sustainable finance and ESG (including climate change) issues relate to the integration of ESG factors, risks and preferences in financial products and services, as well as in investment, financing and business decisions, operations and risk management. For information on the Commission’s Sustainable finance action plan, see Practice Note: Climate change and sustainability issues for the EU financial sector. For information on UK and International developments, see Overview: Sustainable finance and ESG—overview. For information on EU, international and UK developments in Sustainable finance and ESG before 2021, see Checklist: Sustainable finance and ESG—timeline 2016–2021 [Archived]. 2024 Date Source Document Description 11 November 2024 Council of the European Union Draft REGULATION OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL on the transparency and integrity of Environmental, Social and Governance...

Sustainable finance and ESG—timeline 2016–2021 [Archived]

Sustainable finance and ESG—timeline 2016–2021 [Archived] This timeline outlines the key developments relating to sustainable finance and environmental, social and governance (ESG) integration from a UK, EU and international perspective. Sustainable finance and ESG (including climate change) means broadly integrating ESG factors, risks and preferences in financial products and services, as well as in investment, financing and business decisions, operations and risk management. For more information, see Overview: Sustainable finance and ESG—overview. Date Source Document Description 23 December 2021 United Nations Environment Programme Finance Initiative Awareness-raising and training activities on sustainable finance by UNEP FI training department and its partners in 2021 The United Nations Environment Programme Finance Initiative (UNEP FI) has published a list of awareness-raising and training activities on sustainable finance run by its training department and partners in 2021. Webinar recordings and presentation slides of many of the events are available to view. 21 December 2021 Financial Conduct Authority Primary Market Technical Note 801.2: Disclosures in relation to ESG matters, including climate change...

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The withdrawn proposals for a European private company and a single-member private company [Archived]

ARCHIVED: This archived Practice Note outlines the background to the European Commission’s unsuccessful proposals to introduce a common form of single-member private limited company (the Societas Unius Personae or SUP) across the European Union, and its previous attempts to introduce a European private company (Societas Privata Europaea or SPE). It is not maintained and it is for background information only.Background—the proposal for a European private company (Societas Privata Europaea or SPE)On 25 June 2008, the European Commission proposed a Council Regulation on the Statute for a European private company. The proposal formed part of a wider package of measures designed to assist small and medium enterprises (SMEs) to carry on business across the European market.After a number of years of unsuccessful discussions regarding the proposal, it was not possible to reach unanimous agreement between Member States, and the Commission finally decided to withdraw its proposal for an SPE form in 2013, but stated that it would be considering a new proposal.Following the withdrawal of the SPE proposal, in 2014 the...

EU collection—Corporate

EU collection—Corporate For information on EU law generally, see subtopics: EU structure, EU legislative process, EU judicial system and EU rights and policies. Matters of EU law that arise in a corporate context are specifically addressed in: Equity capital markets • Practice Note: EU Prospectus Regulation tracker • Practice Note: The Transparency Directive • Practice Note: Transparency Directive tracker Public company takeovers • Practice Note: The EU merger investigation process • Practice Note: A 'concentration' with an EU dimension Corporate governance • Practice Note: EU developments and influences in corporate governance Accounts and reports • Practice Note: EU Accounting Directive—summary of main

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How does Brexit effect forum shopping for corporates and bankruptcy tourism for individuals?

How does Brexit effect forum shopping for corporates and bankruptcy tourism for individuals? Brexit will have a major effect on both forum shopping for corporates and on bankruptcy tourism for individuals. Given the ‘skinny’ free trade agreement proposed (which does not replicate the effects of Regulation (EU) 2015/848 (Recast Regulation on Insolvency), some of the adverse consequences of the loss of forum shopping for corporates could be mitigated, if the EU allows the UK to join the Lugano Convention as an independent contracting State. The Lugano Convention applies to the recognition and enforcement of civil and commercial judgments between contracting States. The EU, along with the European Free Trade Agreement States, are currently members of the Lugano Convention and have an effective veto on other States being allowed to join. One might assume that given the ‘skinny’ free trade agreement, the veto will be lifted in the future and the UK will be allowed to join Lugano as an independent contracting State, (see Practice Note: Tracker—Lugano Convention...

When is a European works council’s approval required in relation to data protection matters in the UK?

When is a European works council’s approval required in relation to data protection matters in the UK? The Transnational Information and Consultation of Employees Regulations 1999 (TICER 1999), SI 1999/3323 implement Directive 2009/38/EC, the European Works Council and information and consultation procedure Directive (recast) in the UK. Other obligations to inform and consult may arise at a national level under the Information and Consultation of Employees Regulations 2004, SI 2004/3426 (see Practice Note: The Information and Consultation of Employees Regulations 2004) and/or for European companies under the European Public Limited-Liability Company Regulations 2004, SI 2004/2326 and the European Public Limited-Liability Company Regulations 2009, SI 2009/2401. TICER 1999, SI 1999/3323 generally applies to: • undertakings with at least 1,000 employees within the Member States of the European Economic Area (EEA) and at least 150 employees in each of at least two such Member States, and • groups of undertakings which have at least 1,000 employees within the Member States of the EEA, at least two group undertakings in different...

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Financial Industry associations urge caution on EU financial data access regulation

Insurance Europe together with the Association for Financial Markets in Europe (AFME), the European Association of Co-operative Banks (EACB), the European Banking Federation (EBF), the European Fund and Asset Management Association (EFAMA), the European Savings and Retail Banking Group (ESBG), have issued a joint statement calling for a more measured approach to the proposed EU Financial Data Access (FiDA) regulation following the European Parliament's adoption of its position and the Council reaching a General Approach. The associations are urging co-legislators to conduct a thorough impact assessment before finalising the regulation.

Comment—Meta, Google and more seek clarity on AI model training under EU privacy law

MLex: Meta Platforms, Microsoft, Google and X have all suspended the training of generative AI models in the EU over personal data protection concerns, and they are hoping that watchdogs there will soon provide legal clarity on how the EU General Data Protection Regulation, Regulation (EU) 2016/679 (EU GDPR) applies to model training. Until European data protection authorities reach a consensus, particularly over the use of 'legitimate interest' as a legal basis for data processing, tech companies will stay away.

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1285 Extension of GB enactments relating to [UK Societas]

(1)     The enactments in force in Great Britain relating to [UK Societas] extend to Northern Ireland.(2)     The following enactments shall cease to have effect accordingly—(a)     the European Public Limited-Liability Company Regulations (Northern Ireland) 2004 (SR 2004/417), and(b)     the European Public Limited-Liability Company (Fees) Regulations (Northern Ireland) 2004 (SR 2004/418).[(3)     In this section “UK Societas” means a United Kingdom Societas within the meaning of Council Regulation 2157/2001/EC of 8 October 2001 on the Statute for a European Company.]