Climate neutral meaning

In this issue: UK, EU and international regulators and bodies Authorisation, approval and supervision Accountability, culture and social governance Prudential requirements Operational resilience Financial crime and sanctions Complaints, compensation and claims management Investigations, enforcement and discipline Regulation of capital markets Regulation of derivatives Banks and mutuals Investment funds and asset management MiFID II Regulation of insurance Payment services and systems Fintech and cryptoassets Financial Services Enforcement Database Daily and weekly news alerts Intraday news alerts New and updated content Dates for your diary UK, EU and international regulators and bodies ESAs highlight role of behavioural insights in supervisory and policy work The three European Supervisory Authorities — the European Banking Authority (EBA), the European Insurance and Occupational Pensions Authority (EIOPA) and the European Securities and Markets Authority (ESMA) — have issued a joint report arising from their February 2024 workshop on integrating...

In this issue: UK, EU and international regulators and bodies Financial crime and sanctions Consumer protection Complaints, compensation and claims management Investigations, enforcement and discipline Regulation of capital markets Packaged Retail and Insurance-based Investment Products (PRIIPs) Dispute resolution for financial services lawyers Regulation of derivatives Sustainable finance and ESG Banks and mutuals Investment funds and asset management UK MiFID II EU MiFID II Consumer credit, mortgage and home finance Payment services and systems Fintech and cryptoassets Regulation of AI in FS LexTalk®Financial Services: a Lexis®Nexis community Financial Services Enforcement Database Daily and weekly news alerts Intraday news alerts Dates for your diary UK, EU and international regulators and bodies Treasury Select Committee publishes letter from FCA CEO following recent evidence session The House of Commons (HoC) Treasury Select Committee (TSC) has issued a letter dated 30 April 2025 from Nikhil...

EU developments EBA consults on identification, measurement, management and monitoring of ESG risks The European Banking Authority (EBA) has opened a consultation on proposed guidelines covering environmental, social and governance (ESG) risk management. The draft sets out what institutions should do to identify, quantify, manage and oversee ESG risks, and calls for strategies and plans to tackle exposures linked to the shift towards an EU climate-neutral economy. Feedback is requested by 18 April 2024. See: LNB News 19/01/2024 26. Source: The EBA consults on guidelines on the management of ESG risks. EFRAG launches consultation on two exposure drafts on SMEs sustainability reporting standards The European Financial Reporting Advisory Group (EFRAG) has started a public consultation on the ESRS exposure draft for listed SMEs, alongside a voluntary reporting draft for non-listed SMEs. The consultation runs until 21 May 2024, inviting all stakeholders to share views via the online consultation questionnaires...

Context Under the European Green Deal, the EU has outlined bold goals to cut its greenhouse gas emissions steadily each year up to and beyond 2030, with the ultimate objective of reaching net zero emissions by 2050. Regulation (EU) 2021/1119 of 30 June 2021 (the EU Climate Regulation) sets a legally binding and enforceable duty on the EU to deliver a 55% drop in carbon emissions from 1990 levels by 2030, and to attain full carbon neutrality by 2050. The European Commission estimates that producing and using energy is directly responsible for over 75% of the EU’s greenhouse gas output. Rapid, far-reaching decarbonisation of the energy system is therefore essential to meeting both the 2030 and 2050 emissions goals respectively. To this end, the EU is designing and applying a comprehensive legal and policy framework for a climate-neutral, ‘clean’ energy system, centred on renewable energy and renewable hydrogen, together with stronger, improved energy efficiency. Moving to a low-carbon energy system has featured prominently on the EU’s policy agenda for...

The European Green Deal serves as the European Commission’s framework for sustainable growth across Europe. It embodies the Commission’s answer to existential dangers of climate change and biodiversity decline. It sets out a plan for action within the EU and for international cooperation to avert the gravest effects of a warming planet, while enabling citizens to adjust to unavoidable climate change and helping businesses to shift towards sustainability. Introduction to the European Green Deal The European Green Deal Communication (the Green Deal) appeared on 11 December 2019. It outlined a series of overarching aims to steer EU legislation and policy in the years after publication. An initial European Green Deal roadmap (the Roadmap), listing the principal measures to be adopted in fulfilment of the Green Deal’s objectives, was issued at the same time. A central ambition of the Green Deal is to make Europe the first climate-neutral continent by 2050, with an interim target to cut greenhouse gas (GHG) emissions by at least 50% below 1990 levels by...

Context Under the European Green Deal, the EU has committed to progressively lowering greenhouse gas emissions up to and beyond 2030, aiming ultimately for net zero by 2050. Regulation (EU) 2021/1119 of 30 June 2021 (the EU Climate Regulation) sets a legally binding requirement for the EU to cut carbon emissions by 55% from 1990 levels by 2030 and to achieve full carbon neutrality by 2050. The European Commission estimates that energy production and consumption account for over 75% of the EU’s greenhouse gas emissions. Rapid decarbonisation of the energy system is therefore vital to meet the 2030 and 2050 goals. To deliver this, the EU is designing and putting in place a legal and policy framework for a climate‑neutral, ‘clean’ energy system, centred on renewable energy and renewable hydrogen, together with improved energy efficiency. The shift to a low‑carbon energy system has long featured on the EU’s policy agenda. The European Green Deal targets build on—and heighten the ambition of—earlier EU strategies and action plans, including the 2030...