Insights

Discover four essential steps for CSRD compliance, from governance to resource allocation, ensuring your sustainability reporting meets regulatory standards.

Is your company searching for a sustainability leader? Learn the key skills for embedding sustainability into your business strategy.

he Corporate Sustainability Reporting Directive (CSRD) will replace the NFRD and requires entities in scope to include non-financial reporting disclosures across Environmental, Social and Governance topics within their annual management report covering both financial impacts and impacts on people and the environment.

The European Financial Reporting Advisory Group (“EFRAG”) submitted to the European Commission its technical advice on the first set (“set 1”) of draft European Sustainability Reporting Standards (“ESRSs”) on the 22 November 2022. This included 2 “cross cutting” ESRSs (General Requirements and General Disclosures) and 10 “topical” standards across Environmental, Social and Governance topics.

Why the ECB and EIOPA Are Exploring Actions to Reduce the Climate Insurance Protection Gap

Following stakeholder consultation, the Central Bank of Ireland (CBI) has published ‘Guidance for (Re)Insurance Undertakings on Climate Change Risk’. The following are the key areas outlined for re(insurers) to integrate climate change risk: Appropriate Governance, Materiality Assessment, Scenario Analysis, Strategy & Business Model, Risk Appetite & Risk Management and Reporting.

The Corporate Sustainability Reporting Directive (“CSRD”) introduces detailed reporting requirements on companies’ impact on the environment, human rights and social standards.

The Central Bank of Ireland (CBI) has agreed a fast-track filing deadline of 1 December 2022 for Irish authorised UCITS and AIFs filing pre-contractual disclosure templates under A8 and A9 of the Sustainable Finance Disclosures Regulation (SFDR) which must be published by 1 January 2023.

While there has been much discussion of sustainability and ESG (Environmental, Social, Governance) factors in relation to the banking sector in recent times, the reality is that much if not all regulatory instruments to date have focused on a subsection of ‘E’; climate change. Several factors have contributed to this including its actual and predicted impacts, political and social momentum, as well as a growing body of research that facilitates quantification of the associated risks

Effective from 1st August 2022, Commission Delegated Directive (EU) 2021/1270 (“new regulation”) requires all UCITS Management Companies (“UCITS Mancos”) to integrate sustainability risks into the management of UCITS.

The global economic crisis that resulted as a consequence of the pandemic has stressed the relevance of prioritising sustainability pillars within financial services.