Global Regulatory Watch February 2022

The NDRC and the MEE released a new guideline on “Implementation guidelines for energy-saving and carbon-reducing renovation and upgrading in key areas of energy-consuming industries”…

The NDRC and the Ministry of Ecology and Environment (MEE) released a new guideline on “Implementation guidelines for energy-saving and carbon-reducing renovation and upgrading in key areas of energy-consuming industries”…Singapore carbon tax will be raised to $25/tCO2e in 2024 and 2025, and...Final Report of Social Taxonomy published...More ESG Research and Insights are Available from Subscription to GC Insights Monthly ESG Regulatory Watch: info@gc-insights.com



APAC

  • China: The National Development and Reform Commission (NDRC) & National Energy Administration (NEA) have published a guideline “Opinions on improving the institutional mechanisms and policy measures for the green and low-carbon transformation of energy” on the green transition of its power sector. The NDRC and the Ministry of Ecology and Environment (MEE) released a new guideline on “Implementation guidelines for energy-saving and carbon-reducing renovation and upgrading in key areas of energy-consuming industries”…


  • Hong Kong: The Hong Kong government is postponing the launch of a retail green bond offering program in light of the COVID-19 epidemic, with proceeds going to back its planned sustainable projects…


  • Singapore: The Singapore carbon tax will be raised to $25/tCO2e in 2024 and 2025, and $45/tCO2e in 2026 and 2027, with a view to reaching $50-80/tCO2e by 2030, compare to its initial level of S$5/tCO2e from 2019 to 2023…

AMER

  • US: California Senate Wiener’s Climate Corporate Accountability Act passes Senate as the First Law in US Requiring Companies to Disclose all GHG Emissions. White House rolls out $5 billion funding plan to states for electric vehicle chargers…


  • Canada: Canadian Net-Zero Emissions Accountability Act enshrines in legislation the Government of Canada’s commitment to achieve net-zero greenhouse gas emissions by 2050, and provides a framework of accountability and transparency to deliver on it. Canada announces new international climate finance funding for nature-based solutions…



EMEA

  • EU: The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator has launched call for evidence on ESG Ratings. The European Banking Authority (EBA) published binding standards on Pillar 3 disclosure on ESG risks with 10 new climate risk metrics as part of new reporting standards for banks. Final Report of Social Taxonomy published. The European Commission adopted proposals for mandatory human rights and environmental due diligence…


  • Denmark: Danish Business Authority published the “Årsrapportens ESG taksonomi” an updated guidelines on ESG reporting in companies’ annual report…


  • Switzerland: Switzerland, the EU and Japan co-lead the new Working Group on Transition Finance within the International Platform on Sustainable Finance (IPSF) to explore how sustainable finance alignment approaches such as taxonomies, labels and portfolio alignment metrics, as well as corporate strategy and disclosures may integrate transition considerations…