Featured Product

    IPSF Reports Discuss Various Aspects of ESG Work in Member Countries

    November 04, 2021

    EC announced that it welcomes the Ministry of Finance of Malaysia into the International Platform on Sustainable Finance (IPSF), along with the publication of three reports by IPSF. In context of the ongoing United Nations Climate Change Conference COP26, IPSF also published a statement reaffirming the commitment of IPSF members to international cooperation in the development of globally comparable and interoperable sustainability approaches and tools. The reports IPSF published cover the commonalities between the green taxonomies of European Union and China, the annual report of activities of IPSF, and the state of environmental, social, and governance (ESG) disclosures across IPSF jurisdictions. In addition to the report on Common Ground Taxonomy, IPSF published a Common Ground Taxonomy table as well as a call for feedback for the taxonomy table. The IPSF is consulting stakeholders on the Common Ground Taxonomy activities table until January 04, 2022.

    On the occasion of the IPSF Annual Event organized under the EU Pavilion at the COP26 on November 04, 2021, the following three reports have been published and presented:

    • Report on Common Ground Taxonomy. This report provides an in-depth comparison and puts forward areas of commonality between the green taxonomies of European Union and China. This work will be expanded over time. The current Common Ground Taxonomy covers economic activities in six areas: energy, manufacturing, construction, transportation, solid waste management, and forestry. The working group on taxonomies, initiated by the European Union and China, plans to expand the scope of the Common Ground Taxonomy to include more sustainable activities, which will contribute to greater comparability, interoperability and consistency of sustainable taxonomies. 
    • IPSF Annual Report 2021. This report gives an overview of the work of the platform during the year, chief among that being the work on taxonomies and disclosures. This annual report also looks at the progress of member jurisdictions in the area of sustainable finance. Most member jurisdictions have established taskforces dedicated to sustainable finance, as a public-private platform, to discuss approaches to sustainable finance. In some jurisdictions, dedicated taskforces have been established to develop taxonomies. Also, progress has been made on disclosures, with some member jurisdictions adopting or planning to adopt mandatory climate-related disclosures based on the recommendations by the Taskforce for Climate-related Financial Disclosures (TCFD) and some going even beyond and having disclosures across the full ESG range of issues.
    • Report on ESG disclosures. This report provides an overview of the state of ESG disclosure-related policy measures, including laws, regulations, but also recommendations and guidelines, across IPSF jurisdictions, Brazil, and the US. It further describes the key characteristics of the different approaches, also identifying the emerging global trends and key gaps that need to be addressed to effectively and substantially enhance transparency around sustainability impacts and risks.

     

    Related Links

    Comment Due Date: January 04, 2022

    Keywords: International, Asia Pacific, China, Banking, Insurance, Securities, Sustainable Finance, Common Ground Taxonomy, ESG, Climate Change Risk, TCFD, IPSF, Disclosures, EU, EC 

    Featured Experts
    Related Articles
    News

    EBA Launches Stress Tests for Banks, Issues Other Updates

    The European Banking Authority (EBA) launched the 2023 European Union (EU)-wide stress test, published annual reports on minimum requirement for own funds and eligible liabilities (MREL) and high earners with data as of December 2021.

    January 31, 2023 WebPage Regulatory News
    News

    EBA Proposes Standards for IRRBB Reporting Under Basel Framework

    The European Banking Authority (EBA) proposed implementing technical standards on the interest rate risk in the banking book (IRRBB) reporting requirements, with the comment period ending on May 02, 2023.

    January 31, 2023 WebPage Regulatory News
    News

    FED Issues Further Details on Pilot Climate Scenario Analysis Exercise

    The U.S. Federal Reserve Board (FED) set out details of the pilot climate scenario analysis exercise to be conducted among the six largest U.S. bank holding companies.

    January 17, 2023 WebPage Regulatory News
    News

    US Agencies Issue Several Regulatory and Reporting Updates

    The Board of Governors of the Federal Reserve System (FED) adopted the final rule on Adjustable Interest Rate (LIBOR) Act.

    January 04, 2023 WebPage Regulatory News
    News

    ECB Issues Multiple Reports and Regulatory Updates for Banks

    The European Central Bank (ECB) published an updated list of supervised entities, a report on the supervision of less significant institutions (LSIs), a statement on macro-prudential policy.

    January 01, 2023 WebPage Regulatory News
    News

    HKMA Keeps List of D-SIBs Unchanged, Makes Other Announcements

    The Hong Kong Monetary Authority (HKMA) published a circular on the prudential treatment of crypto-asset exposures, an update on the status of transition to new interest rate benchmarks.

    December 30, 2022 WebPage Regulatory News
    News

    EU Issues FAQs on Taxonomy Regulation, Rules Under CRD, FICOD and SFDR

    The European Commission (EC) adopted the standards addressing supervisory reporting of risk concentrations and intra-group transactions, benchmarking of internal approaches, and authorization of credit institutions.

    December 29, 2022 WebPage Regulatory News
    News

    CBIRC Revises Measures on Corporate Governance Supervision

    The China Banking and Insurance Regulatory Commission (CBIRC) issued rules to manage the risk of off-balance sheet business of commercial banks and rules on corporate governance of financial institutions.

    December 29, 2022 WebPage Regulatory News
    News

    HKMA Publications Address Sustainability Issues in Financial Sector

    The Hong Kong Monetary Authority (HKMA) made announcements to address sustainability issues in the financial sector.

    December 23, 2022 WebPage Regulatory News
    News

    EBA Updates Address Basel and NPL Requirements for Banks

    The European Banking Authority (EBA) published regulatory standards on identification of a group of connected clients (GCC) as well as updated the lists of identified financial conglomerates.

    December 22, 2022 WebPage Regulatory News
    RESULTS 1 - 10 OF 8700