ESG is high on the regulatory agenda. Businesses, governments, regulators, financial services firms and individuals all have a part to play in tackling climate change and this view is increasingly shared across society. In terms of financial markets, investors are increasingly seeking sustainable financial products and ESG investing, traditional investing combined with sustainable or otherwise philanthropic aims, has seen huge growth in recent years.
Regulated firms are also seeking to improve their own ESG performance more generally to build stronger relationships with their stakeholders, including those who use their services. Whilst the growing emphasis on ESG presents opportunities for financial services providers, it also brings with it a number of risks, which need to be properly managed with a view to avoiding future regulatory investigations and enforcement.
As our clients look to transition towards a more sustainable and profitable future, they require strategic legal advice across a wide range of regulatory issues including in relation to sustainable finance, disclosures, greenwashing and safeguarding against contentious risks.
Developed by our global financial services regulatory lawyers and integrated risk advisory group, our Financial Services Regulatory Developments in ESG Hub provides resources and insights to help clients stay informed of key regulatory developments in the sector.
Horizon scanning in 2023 section – ESG developments in financial services. This timeline sets out the key ESG milestones in the UK and EU from a financial services regulatory perspective so that businesses may keep track of developments in 2023. The timeline will be updated every quarter, the last update was made on 11 August 2023.
Keep ahead of ESG developments in financial services. We publish a regular ESG updater which tracks regulatory developments in the ESG space. Should you wish to receive the updater please contact Haney Saadah.
ClientEarth fails in judicial review against Financial Conduct Authority
ClientEarth, an environmental charity that seeks to bring legal challenges in respect of entities that it considers have not discharged their environmental responsibilities, has failed in its attempt to judicially review a decision of the Financial Conduct Authority (FCA) to approve the prospectus of a UK oil and gas company, Ithaca Energy plc (Ithaca). Ithaca’s flotation was the UK’s largest public listing of 2022.
Sustainable Finance Disclosure Regulation (SFDR) Project Manager
Webinars and Podcasts
Regulation Tomorrow Plus: ESG insight series
In the second of our financial services ESG insight series, Haney Saadah covers three recent Regulation Tomorrow blogs that caught his eye: the Bank of England report on climate-related risks and the regulatory capital frameworks, the Green Claims Directive and UKSIF’s letter to the Treasury Sub-Committee on Financial Services Regulations.
Managing the greenwashing risk
In this session, we look at how regulators are dealing with greenwashing and how to reduce the risk of a greenwashing claim.
Regulation Tomorrow Plus - What to expect in 2023?
In this episode, our London Financial Services & Regulation partners reflect on some of the key UK regulatory themes from the past year and what we expect to come down the track in 2023 including Consumer Duty and ESG.
ESG: Key regulatory risks in the UK and US and practical steps to manage them
In our next episode of RT Plus, Katie Stephen, Co-Head of our Contentious Financial Services Group in London, and Celia Cohen, Co-Head of Financial Institutions in the United States, discuss the key regulatory risks for financial services firms in their respective jurisdictions around Environmental, Social and Governance issues. Katie and Celia also give us their practical tips on what firms can be doing now to help manage those risks.