Linklaters Italy ESG GEMS - June 2024

Welcome to the latest edition of our ESG GEMS.

In this issue, we explore the latest recommendations from the European Supervisory Authorities on the Sustainable Finance Disclosure Regulation, aimed at enhancing consumer protection and supporting the green transition.

We also cover the European Central Bank's considerations on imposing fines for banks' inadequate handling of climate risks, the EU's formal decision to withdraw from the Energy Charter Treaty to better align with climate goals, and a review of the EU Taxonomy’s adoption in market strategies and planning.

Featured content

• EU Tracker: Which ESG proposals have been adopted and which are still outstanding?
• Webinar recording | the EU perspective on greenwashing from the ESA's reports

Greenwashing

• EU: ESA’s recommendations on SFDR – calling for greater coherence in the framework, catering for green transition and enhanced consumer protection

Climate Change and Environment

• EU: ECB is considering whether to impose fines on banks for failure to address the impact of climate change
• Energy Charter Treaty: Council gives final approval for EU’s withdrawal

Sustainable Finance

• Stocktake of the EU Taxonomy in action

Podcast

• EU Green Bond Regulation: new podcast on the key aspects of the EuGB label getting the most buzz in the market