Key Impact Points: European Commission Adopts Voluntary Standard for SMEs The European Commission has adopted the Voluntary Sustainability Reporting Standard for SMEs (VSME), designed to make it easier for smaller businesses to report ESG data and respond to requests from financial institutions and large companies. Developed by the European Financial
Key Points: Growing Anti-ESG Pressure State treasurers and financial officers from Alabama, Alaska, Arizona, Idaho, Indiana, Iowa, Kansas, Kentucky, Louisiana, Mississippi, Missouri, Nebraska, North Carolina, North Dakota, Oklahoma, South Carolina, Pennsylvania, Utah, West Virginia, and Wyoming have escalated their campaign against ESG investing. In letters to CEOs of BlackRock, JPMorgan
Key Points:• ICJ unanimously declares states must prevent environmental harm and cooperate on climate under international law• Obligations derive from treaties, customary law, UNCLOS, biodiversity agreements, and human rights law• States may face legal consequences — including reparations — for failure to act on climate change ICJ Issues Landmark Climate
Key Impact Points: EU Unveils Clean Industrial Deal to Align Industry and Climate Goals In February 2025, the European Commission launched the Clean Industrial Deal (CID), positioning it as the EU’s core industrial strategy to make decarbonization a growth engine. The CID aims to mobilize public and private capital to
Key Impact Points: NASA Reverses Climate Report Hosting Plan The Trump administration has abandoned its plan to host the federally mandated National Climate Assessment reports on NASA’s website—an unexpected reversal that makes it more difficult for the public to access vital climate information. Earlier this month, the White House said
Key Impact Points: EU Lawmakers Vote Down Country Risk Classification in EUDR The European Parliament has voted to reject the EU Deforestation Regulation’s (EUDR) benchmarking system that categorizes countries by deforestation risk, dealing a significant setback to the bloc’s effort to eliminate deforestation-linked products from EU supply chains. The EUDR,
Key Impact Points: EU Charts a Realistic Course to Climate Neutrality The European Commission has proposed a major amendment to the EU Climate Law, introducing a legally binding 2040 target of reducing net greenhouse gas emissions by 90% compared to 1990 levels. The proposal builds on the existing 2030 target
Key Impact Points: ISSB Launches Major Revisions to Align SASB and IFRS S2 Guidance The International Sustainability Standards Board (ISSB) today released two exposure drafts proposing updates to the SASB Standards and related changes to the IFRS S2 Industry-based Guidance. These amendments mark a pivotal step in aligning industry-based sustainability
Key Impact Points: Von der Leyen’s Support for Anti-Greenwashing Law Reaffirmed European Commission President Ursula von der Leyen never intended to kill the proposed Green Claims Directive, a Commission official said Tuesday, reversing previous comments from the EU executive just days earlier. “The president’s support for the Green Claims has
Key Impact Points: GRI Introduces Climate Change and Energy Standards to Drive Action The Global Reporting Initiative (GRI) has released its Climate Change and Energy Standards—GRI 102 and GRI 103—to enhance corporate accountability on climate impacts and provide globally aligned, decision-useful disclosure tools. Announced during London Climate Action Week, the
