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
Key Impact Points: UN Launches Regional Hub to Drive Private-Sector Sustainability The UN Global Compact has officially launched its Country Network for Central Asia, a new regional hub based in Kazakhstan that will serve five countries — Kazakhstan, Kyrgyzstan, Uzbekistan, Tajikistan, and Turkmenistan. This milestone aims to integrate over 140
Key Impact Points: Commission Pulls Plug on Greenwashing Proposal The European Commission has announced it plans to withdraw its proposed Green Claims Directive, a central piece of its Green Deal strategy designed to curb greenwashing in corporate marketing. The legislation aimed to ensure companies’ environmental claims were “accurate, substantiated and
Key Impact Points: Government Moves to Curb Destructive Fishing Practices The UK government has proposed new measures to ban bottom trawling—a fishing method that drags heavy nets along the seabed—in 41 Marine Protected Areas (MPAs), covering approximately 30,000 square kilometers of English waters. The initiative is designed to protect fragile
Key Impact Points: California Sticks to 2026 Climate Disclosure Timeline California’s sweeping climate laws will go into effect as planned in 2026, with no delays to reporting requirements despite the California Air Resources Board (CARB) falling behind on regulatory development. KPMG’s June 2025 update confirms that reporting under SB-253 (GHG
Key Impact Points: Basel Committee Publishes Voluntary Climate Disclosure Framework The Basel Committee on Banking Supervision has released a voluntary framework for disclosing climate-related financial risks, allowing individual jurisdictions to decide whether and how to implement it domestically. Built-in Flexibility for Evolving Data Recognizing the rapid evolution of climate-related data,
