The U.K. government promised to introduce Sustainability Reporting Standards in its manifesto. Almost a year after it came to power, it launched a consultation on June 25 on draft plans for these standards, which are largely based on those of the ISSB.
ESG/Social Responsibility
Posted inESG/Social Responsibility
Citing “significant changes” to corporate reporting requirements, COSO withdraws governance framework
The Committee of Sponsoring Organizations of the Treadway Commission (COSO) has withdrawn its draft corporate governance framework that it released in May, after “extensive feedback” and provisions in the recently passed “One Big Beautiful Bill” caused its authors to reconsider it.
Posted inAccounting & Auditing
Communication and relationships is increasingly critical for compliance teams
Compliance is increasingly in the spotlight as companies are tackling everything from artificial intelligence and other new technologies to risk management and mitigation. But it’s soft skills of communication and relationship building that are becoming the most critical tools for success.
Posted inAnti-Bribery
ESG isn’t just a buzzword, it’s vendor management, forced labor and more
ESG is no longer in vogue. But its issues still are.
Almost none of the nearly 200 attendees at Compliance Week’s Third Party Management summit this week said they’re currently working on ESG when informally surveyed. The show-of-hands results marked a dramatic reversal from even just a couple years ago, surprising even attendees in the room.
Posted inBoards & Shareholders
TPRM Keynote speaker Cherepanova says directors don’t need specialization, they need critical thinking
Regulators and investors increasingly say boards of directors need more expertise to ensure they can respond to fast-changing politics, policy, and technology that threaten to undermine their businesses. In the U.K., government officials say boards need to think more about cyber. In the EU, they need to prepare for the Corporate Sustainability Reporting Directive (CSRD). Speaking at Compliance Week’s Third-Party Risk Management summit, Boards of the Future director Vera Cherepanova says that directors need to think broadly, rather than in specialties.
Posted inFinancial Services
DOJ says BlackRock, Vanguard, State Street pressed ESG goals to lower U.S. coal output
The Department of Justice and Federal Trade Commission have bolstered a conservative legal effort to dismantle environmental, social, and governance-based investment strategies from three large asset managers by claiming they illegally conspired to artificially raise energy prices.
Posted inRegulatory Policy
Trump uses federal powers to defang state environmental laws
In support of President Donald Trump’s deregulation agenda, U.S. Department of Justice sued four states in its ongoing attempt to derail state efforts to force energy companies to pay for damage they caused to the environment.
Posted inRegulatory Policy
First he attacked the ‘S’ in ESG. Now Trump’s after the ‘E’ with an EO on state climate laws
President Donald Trump has issued an executive order slamming state-led efforts to address climate change, reduce greenhouse gas emissions, and other environmental, social, and governance (ESG)-related laws.
Posted inAccounting & Auditing
New York, California will require companies to report greenhouse gas emissions
Some companies doing business in California and New York may soon be required to report the greenhouse gas emissions (GHG) of their operations to state authorities, even as the federal rule for disclosing such emissions is on life support.
Posted inRisk Management
Republican-led SEC abandons climate rule; Dem commissioner calls move ‘unlawful’
The Securities and Exchange Commission’s Republican leadership is abandoning the climate-related disclosure rule package passed last year by Democrats, hoping that the courts will kill regulations already on life support.
