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UK Carbon Border Adjustment Mechanism: how will it work?
In February, we reported on the Department of Energy Security and Net Zero’s confirmation that a UK Carbon Border Adjustment Mechanism (CBAM) would be bought into force by 2027
Global | Publication | August 7, 2015
Welcome to Essential Corporate News, our weekly news service covering the latest developments in the UK corporate world.
On August 3, 2015 HM Treasury published for comment the draft Transparency Regulations 2015. The draft regulations follow the Implementation of the Transparency Directive Amending Directive, a joint consultation paper published by HM Treasury and the Financial Conduct Authority (FCA) on March 20, 2015, which contained proposed amendments to the Financial Services and Markets Act 2000 (FSMA) and the Disclosure and Transparency Rules (DTRs) in order to implement the final remaining provisions of Directive 2013/50/EU (the Directive).
The proposed amendments to FSMA are as follows:
Comments on the draft regulations should be submitted to HM Treasury by September 4, 2015.
Regulations 1, 3, and 7 are intended to come into force on November 1, 2015. Regulations 2 and 5 also come into effect on this date for the purpose of making rules under Part VI of the FSMA and with the rest of the provisions coming into force on November 26, 2015. Regulations 4 and 6 also come into effect on November 26.
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In February, we reported on the Department of Energy Security and Net Zero’s confirmation that a UK Carbon Border Adjustment Mechanism (CBAM) would be bought into force by 2027
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Last November the Financial Conduct Authority (FCA) published Policy Statement 23/16 (PS23/16) containing final rules and guidance on sustainability disclosure requirements (SDR) and investment labels (UK SDR regime).
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International financial markets have started to show significant interest in nature and biodiversity. Whilst climate change and greenhouse gas emissions have made the headlines in recent years, there has been much less focus on their equally important counterparts, nature and biodiversity. However, that has started to change.
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