UN body encourages engagement, due diligence; World Bank outlines sustainability bonds framework.
New framework aims to broaden sustainability reporting and embrace double materiality but faces long path to law.
Product-level disclosures to users can be limited for transitional period where proxies deemed insufficient.
The framework is complex and SEC staff want to “get it right first time”, says PRI’s Head of US Policy Gregory Hershman.
Complexity of combining SFDR and Taxonomy-specific RTSs pushes implementation date back to 2023.
Much-postponed proposal now expected in December, following the unveiling of EU deforestation supply chain due diligence measures.
Energy-intensive and unregulated, institutional investors are proving reluctant to back the rapidly growing asset class.
A consistent approach to taxonomies is necessary to help mobilise capital towards sustainable solutions, said ICMA's Ricco Zhang.
Agreement on Paris rules in Glasgow expected to stimulate investment flows, while wider deal seen as key, if limited, step on path to low-carbon transition.
Finance sector commitments are strongly in evidence, but NGOs and asset owners call for increased fossil fuel focus.