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Categoria: International update

ecoDa EU Alerts 7

Posted on by Giuseppe Moscato

EUROPEAN INSTITUTIONS DEVELOPMENTS
EP: Approval of the new rules to revive European long-term investment funds

INTERNATIONAL DEVELOPMENTS
SEC open to easing controversial climate disclosure proposal (Politico)
Audit Committees name ESG reporting at the top agenda item (BoardAgenda)
Statement on US-EU Financial Regulatory Forum (US Department of the treasury)

EUROPEAN DEVELOPMENTS
NGOs accuse EU’s lending arm of due diligence failings (Financial Times)
EFRAG: Where is corporate reporting heading (Summary Report)
Multi-stakeholder analysis of corporate failures (Accountancy Europe)

NATIONAL DEVELOPMENTS
UK: The country’s financial watchdog hit with claim over prospectus climate risk disclosure (Financial Times)
France: More than 1000 entreprises à mission (Novethic)


REPORTS
Effective downstream human rights due diligence: Key questions for companies (GBI)

ecoDa News

  • ecoDa’s team is enlarging with an intern, Jonas Van Diepen;
  • Several preparatory meetings for the Spring Edition of ecoDa’s European Board Diploma.

The EU Alert is available for download here.

ecoDa EU Alert 6

Posted on by Giuseppe Moscato

EUROPEAN INSTITUTIONS DEVELOPMENTS
EP: CS3D Update

INTERNATIONAL DEVELOPMENTS
World’s biggest investment fund warns directors to tackle climate crisis or face sack (The Guardian)

EUROPEAN DEVELOPMENTS
Companies and investors calling for ambitious European sustainability reporting standards
An analysis of the EU governance framework for corporate reporting (The European Contact Group)
European discussion on the implementation of the CSRD

NATIONAL DEVELOPMENTS
France: The French High Council of Statutory Auditors could harden its position (Les Echos)
UK: Shell directors personally sued over ‘flawed’ climate strategy (Business & Human Rights Resource Centre)

EVENTS/WEBINARS
OECD Forum on due diligence and responsible business conduct

The EU Alert is available for download here.

ESG embedding: are you ready? A call for Boards, Risk Managers and Internal Auditors

Posted on by Giuseppe Moscato
Corporate Sustainability: Risk Managers and Internal Auditors must work closer with Boards of Directors
Boards of Directors need to work closer with Risk Managers and Internal Auditors to meet the sustainability challenges facing corporations. Otherwise, there is an increased risk of not meeting legal obligations and market expectations.
 
“Risk Managers and Internal Auditors are needed for their expertise when it comes to anticipating the effect of double materiality. The two professions can also help the Board in the dialogue with relevant stakeholders. Companies should first assess their level of maturity in terms of overall approach to sustainability”, highlighted Béatrice Richez-Baum, Director General, ecoDa.
 
EFRAG has just delivered the first set of draft standards for European sustainability reporting (ESRS) to the European Commission. The standards underline the urgency for European corporations to meet the sustainability challenge. At board level, more in-depth knowledge of sustainability issues in business operations becomes imperative.
 
“As a prerequisite, risk management and internal audit must support the Board and senior management so that strategy, risk management, policies, governance and culture fulfill the requirements and expectations. In turn, the Board and the C-Suite must give internal audit and risk management the means to do this”, added Pascale Vandenbussche, Secretary General, ECIIA.
 
While new developments regarding enhanced European legislation on corporate sustainability (including EFRAG’s ESRS standards) are emerging, ecoDa representing board members, FERMA representing risk managers and ECIIA for internal auditors describe in a joint paper, why cooperation between the three roles is needed.
 
“A corporate culture that embraces enterprise-wide risk management is a fundamental factor in determining how organisations approach and deal with sustainability. Managing sustainability requires a mature risk management function and processes. And, with our maturity matrix in the paper we guide organisations to gain a better sense of their sustainability journey”, Typhaine Beaupérin, FERMA CEO.
 
Embedding sustainability into business operations requires Boards of Directors, Risk Managers and Internal Auditors to cooperate. A clear understanding between the Risk Management and Internal Audit functions must be developed to support the Board, and deliver on sustainability objectives.

ecoDa Upcoming Webinars

Posted on by Giuseppe Moscato

10 October 2022: Corporate Governance: A booster for innovation?

Promoting a more standardised and global approach of governance practices is it the right to support innovation in European companies? How companies can have a different development path if regulators and investors are overly focusing on enforcing hard regulations and standard practices?
This webinar will be moderated by Michael Hilb.
The panel will be composed of Chris Hodge, Gatis Kokins, Annalisa Gigante and Abigail Levrau.
Please register to confirm your participation via this link: https://us02web.zoom.us/webinar/register/WN_u0IA8yehSr2tvR2moTAqow

27 October 2022: Corporate reporting: Internal control 2.0 as the way forward? In cooperation with PwC

The subject of internal control is becoming more predominant in current debates, whether it concerns reflection on corporate reporting, ESRS standards or audit reform debates at national level like in the UK and in the Netherlands. What is meant by internal control? What is the role of internal control for ESG? What lessons from Sarbanes Oxley?
This webinar will be moderated by Rogier Wezenbeek.
The panel will be composed of Rachel Bowden, Maurizio Donvito, Stephen Licence and Anne-Hélène Monsellato.

Please register to confirm your participation via this link: https://us02web.zoom.us/webinar/register/WN_GdVGPzupRp2oaB_6IzYdgg


ecoDa – EU Alerts 32

Posted on by Giuseppe Moscato

It Includes:

EUROPEAN INSTITUTIONS DEVELOPMENTS

  • Council: Compromise proposal on the CSDD by the Presidency
  • EESC: Opinion on the CSDD Commission proposal

INTERNATIONAL DEVELOPMENTS

  • BlackRock: 2022 voting spotlight
  • Japan: Regulator published ESG code of conduct (Minerva Analytics)

EUROPEAN DEVELOPMENTS

  • Responses to EFRAG consultation on the first set of draft ESR
  • Accountancy Europe
  • ESMA

NATIONAL DEVELOPMENTS

  • France: Legal inventory of extra-financial instruments adopted by large companies
  • UK: Further improvement needed under new climate rules
  • Luxembourg: Study on non-executive directors and the concept of independence

ARTICLE

EU corporate due diligence proposal: game changer or paper tiger? (European Jacques Delors)

The EU Alert is available for download here.

ecoDa – EU Alerts 28

Posted on by Giuseppe Moscato

It Includes:
EUROPEAN INSTITUTIONS DEVELOPMENTS

CSRD: Consolidated text public
ESMA: Letter on ISSB’ Exposure Drafts
CJUE: Judgement on software in diesel vehicles

INTERNATIONAL DEVELOPMENTS
US: Business Roundtable concerned with the SEC’s disclosure proposal
UN combats greenwashing with new panel (Minerva Analytics)

NATIONAL DEVELOPMENTS
UK: Next steps to reform the UK’s audit and corporate governance framework
UK: Regulator to review impact of ESG ratings on firms (Board Agenda)
Netherlands: The rise of stakeholder committees (Lexology)

ecoDa News

  • ecoDa European Board Diploma: Learn more about this ecoDa brand-new board education programme. Registrations are open;
  • 25th of July: ecoDa  call on DNF ISSB topics

The EU Alert is available for download here.

ecoDa – EU Alerts 27

Posted on by Giuseppe Moscato

It Includes:

EUROPEAN INSTITUTIONS DEVELOPMENTS
EU Taxonomy: The Complementary Delegated Act approved
EC: Reports to improve the quality of financial advice and direct SMEs to alternative funding providers

INTERNATIONAL DEVELOPMENTS
OECD: Climate change and corporate governance
OECD: Remuneration of boards of directors and executive management in state-owned enterprises
US: Shareholders back away from green petitions in US proxy voting season (Financial Times)

NATIONAL DEVELOPMENTS
UK: The influence of the UK Stewardship Code 2020 on practice and reporting (FRC)
France: Launch of the “Business Climate Convention Academy” (Novethic)

ARTICLE
The proposed CSDD won’t end our societal sustainability stalemate (University of Oxford)

ecoDa News

  • 5th of July: ecoDa’s team meet DG GROW representatives to discuss accompanying measures the European Commission could develop as part of the CSDD;
  • 12th of July: ecoDa’s Task Force on EFRAG consultation meeting;
  • 14th of July: Béatrice Richez-Baum moderating a GNDI Global Conference’s panel on diversity and inclusion.

The EU Alert is available for download here.

ecoDa – EU Alerts 24

Posted on by Giuseppe Moscato

It includes:

Taxonomy: MEPs object to Commission’s plan to include gas and nuclear activities
Coreper: Vote on the provisional agreement on Women on boards
EBA: Guidelines on role and responsibilities of the AML/CFT compliance officer
US: SEC looks at stricter rules for index providers (Financial Times)
Basel Committee: Principles for effective management and supervision of climate-related financial risks
BlackRock doesn’t want to be ‘environmental police’ (Bloomberg)
UN compaign toughens standards for company net-zero plans (Reuters)
A record number of companies are committing to and setting science-based climate targets (STBi)
EU Business Biodiversity Platform: Consultation on biodiversity measurement standards
UK: Plans to curb corporate crime (Financial Times)

  • 17th of June: Béatrice Richez-Baum speaking at ESAE event on conflit resolution and governance review in associations;
  • 21st of June: ecoDa’s team will meet FESE to discuss the CSDD;
  • 24th of June: ecoDa’s Task Force on EFRAG Consultation meeting.

The EU Alert is available for download here.

ecoDa – Eu Alert 20

Posted on by Giuseppe Moscato

EUROPEAN INSTITUTIONS DEVELOPMENTS

Corporate Sustainability Due Diligence Directive: Update
European Green Bond Standard: new measures to reduce greenwashing
Ban on products made with forces labour: EP recommendations

INTERNATIONAL DEVELOPMENTS

More shareholders rejecting companies’ executive pay program

NATIONAL DEVELOPMENTS

France: BNP Paribas’ general assembly disturbed by NGOs (Les Echos)
France: Total takes further climate commitments as a result of investors’ pressures (Les Echos)

WEBINAR

EC: Capital Markets Union: investing for a stronger, prosperous and sustainable European Union

ecoDa News

The EU Alert is available for download here.

Webinar 23 Maggio – How can a focus on governance help reimagine corporate integrity? ecoDa, EY, INSEAD

Posted on by Giuseppe Moscato

Cari Associati,
vi segnaliamo il webinar “How can a focus on governance help reimagine corporate integrity?” organizzato da ecoDa insieme a EY e INSEAD Corporate Governance Centre in programma per il 23 maggio alle ore 11:00 – 12:00 CET.

Per registrarti CLICCA QUI.

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