Powered by Lexis+®
Jurisdiction(s):
Ireland

European Parliament approves EU ESG ratings rules: separate E, S and G scores, Paris-alignment and double-materiality disclosures, and a light-touch regime for small providers

Published on: 26 April 2024

Published by an LexisNexis Ireland - Banking & Financial Services expert
Legal News
imgtext
Article summary

MEPs endorse new rules to regulate ESG ratings

At its 24 April 2024 plenary, Parliament signed off rules designed to bring significant clarity and consistency to the way ESG ratings are produced and shared. The package, passed by 464 votes in favour, 115 against and 13 abstentions, will organise the landscape of ESG rating activities so investors can take more informed decisions and curb greenwashing. The measures were provisionally settled in February 2024 by a team of MEPs, headed by Aurore Lalucq (S&D, FR), together with the Council Presidency on behalf of the Member States. These rules set out how ratings are undertaken and communicated with consistency.

More transparency—break down the ESG rating

As a principle, distinct E, S and G scores must be supplied rather than one composite ESG figure that bundles the three factors. In addition, where a rating covers the E factor, details will also have to be given on whether it reflects alignment with the Paris Agreement and any other pertinent international accords...

To view the latest version of this document and thousands of others like it, sign-in with LexisNexis or register for a free trial.

Popular documents

When evaluating a general damages claim, the practitioner ought initially to refer to the Judicial College Guidelines (JCG)...

Read More Right Arrow

This Practice Note This Practice Note reviews mechanisms used in settling litigation. A Tomlin order consists of a consent order paired with a schedule. It operates to stay proceedings on terms that have been agreed. The provisions contained in the schedule may remain confidential. This Practice Note describes the scope of confidentiality attaching to the schedule and sets out how it differs from a standard consent order. Sample wording for a Tomlin order is included, alongside links to precedents, as well as guidance on court approval. It also addresses varying, setting aside and enforcing a Tomlin order, including the considerations the court will take into account when handling applications for each. Further guidance is provided on interpreting and applying the relevant provisions of the CPR; however, some courts and divisions impose very specific requirements for both drafting and approval, and for approaching the schedule and confidentiality issues. Accordingly, you must consider the particular rules and court guide provisions in the forum where your claim is proceeding when drawing up the Tomlin order...

Read More Right Arrow

Date [ date ] Parties [ name of Landlord ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Landlord) [ name of Tenant ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Tenant) [ [ name of Guarantor ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Guarantor) ] [ [ name of Mortgagee ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Mortgagee) ] Definitions Within this Deed, the terms below shall be interpreted as follows: [ Annual Rent • the annual sum reserved under the Lease; ] [ Insurance Rent • the Tenant’s share of the Landlord’s costs of insuring the Property (as set out in the Lease); ] Lease • the lease of the Property dated [ date ], entered into between (1) [ the Landlord OR [ name ...

Read More Right Arrow

I, [ name ], of [ address ], solemnly and sincerely state that: [ Matters to be verified, set out in numbered paragraphs ] I make this solemn statement in good conscience, believing it to be true, and pursuant to the provisions of the Statutory Declarations Act 1835. DECLARED at [ details ] this [ day ] day of [ month and year ] Before me ................................................................................ [ signature of the person before whom the declaration is made ] A [ commissioner for oaths OR [ solicitor OR [ insert other qualification ] ] authorised to administer oaths ]...

Read More Right Arrow