Global Regulatory Watch August 2022

Guidelines to accelerate the construction of a system for calculating carbon emissions unveiled. US Senate passage of the Inflation Reduction Act. France to ban fossil fuel adverts…

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APAC

China

  • National Development and Reform Commission, the National Bureau of Statistics, and the Ministry of Ecology and Environment has unveiled guidelines to accelerate the construction of a system for calculating carbon emissions.

  • State-owned Assets Supervision and Administration Commission announced Supervision and Management Measures for Energy Conservation and Ecological Environmental Protection of State-Owned Enterprises effective from Aug 1.

  • The Ministry of Transportation (MOT) has released a notice to implement new national standards for a green transportation system to promote energy conservation and carbon reduction with Green Transportation Standard Framework 2022.

  • Ministry of Industry and Information Technology (MIIT) and other departments published the Science and technology support carbon peak carbon neutrality implementation plan 2022~2030.

  • MIIT released carbon peaking implementation plan for the industrial sector.

  • MIIT and other departments jointly published notice to promote and optimise the development of the country's photovoltaic industry.

  • China Meteorological Administration published the China Climate Change Blue Book 2022.

  • List of climate investment and financing pilots published by the Ministry of Ecology and Environment (MEE).

  • Taiwan: Taiwan FSC (Financial Supervisory Commission) to Require Emissions Disclosures in Annual Reports in 2024

Australia

  • The Financial Services Council (FSC) of Australia and its fund management members are leading the transition to a lower emissions economy following the release of guidelines that will help combat climate change and greenwashing.

  • The Australian Securities and Investments Commission (ASIC) issued information sheet (INFO 271) on How to avoid greenwashing when offering or promoting sustainability-related products…

India

  • India passes bill to set up a domestic carbon market and ban export of carbon credits


EMEA


EU

  • The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, today published the annual update of its Reporting Manual on the European Single Electronic Format (ESEF).

  • ESMA proposes improvements to the EU regime of third country benchmarks…


France

  • France to ban fossil fuel adverts…


UK

  • Renewable energy innovation boosted by £37 million government funding across the UK…

AMER

US

  • US Senate Passage of the Inflation Reduction Act.

  • California climate rule to halt sale of new petrol cars by 2035.

  • White House Takes Action on Climate by Accelerating Energy Efficiency Projects Across Federal Government.

  • Whitehouse’s new draft National Strategy outlines recommendations for developing “Statistics for Environmental-Economic Decisions” to reflect natural assets on the national balance sheet. Highlights a framework for investment opportunities that would work to address the causes of environmental injustices by shedding light on environmental dependencies.

  • The Biden-Harris Administration announced the Climate Smart Buildings Initiative, which will leverage public-private partnerships to modernize Federal buildings to better meet agencies’ missions, create good-paying jobs, and cut greenhouse gas (GHG) emissions.

  • The US President has signed the CHIPS and Science Act of 2022.

  • The National Bank of Georgia approved the Sustainable Finance Taxonomy and the Regulation on Loan Classification and Reporting according to the Sustainable Finance Taxonomy.

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