ESG preparation: Don’t wait for the SEC ruling
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Chris McClure offers advice on environmental, social, and governance (ESG) preparation in manufacturing and the status of the Securities and Exchange Commission (SEC) ruling in this Manufacturers Alliance Q&A.
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| Letter from our ESG services leader |
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Dear Analisa,
It’s been a very active summer in the ESG world, and this month’s newsletter offers a lot of key updates. The regulatory environment continues to evolve with the SEC's cybersecurity rule, the European Sustainability Reporting Standards (ESRS), and the International Financial Reporting Standards ® (IFRS) S2 Climate-Related Disclosures. We’re also watching closely for the final SEC climate rule. The new European Union (EU) battery regulations and Carbon Border Adjustment Mechanism (CBAM) are also drawing a lot of attention.
Our featured article this month discusses ESG in the manufacturing industry, where there’s always a lot to cover.
We hope this newsletter is informative and helpful. Please reach out with any feedback or ideas for future topics. If you have questions or need help with ESG-related matters, contact me today.
Thanks for your time, |
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ESG updates from the CAQ
Don’t miss our next webinar in which our specialists – and special guests from the Center for Audit Quality (CAQ) – bring you the latest on ESG regulatory updates and market developments. |
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| Regulatory and governance updates |
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SEC issues cybersecurity rules
The SEC will now require registrants to disclose any material cybersecurity incidents they experience. Plus, they’ll need to disclose material information regarding their cybersecurity risk management, strategy, and governance on an annual basis.
Review the final rule
European Commission adopts ESRS
The standards will be used by all companies subject to the Corporate Sustainability Reporting Directive and cover a full range of ESG issues, including climate change, biodiversity, and human rights. They also provide information on the sustainability impact of the companies for their investors.
See if your company is affected
IFRS compares climate-related disclosure requirements
The requirements in the IFRS S2 Climate-Related Disclosures integrate and are consistent with the four core recommendations and 11 recommended disclosures published by the Task Force on Climate-Related Financial Disclosures.
Read more about the requirements
EU adopts new regulation on batteries
The new rule will regulate the life cycle of batteries sold in the EU, from design and production to waste management and recycling.
Read more on the regulation
CBAM and EU carbon tax
In April 2023, the European Parliament approved legislation to reduce greenhouse gas emissions. The legislation includes the CBAM, which adds a carbon tax on certain imports to the EU.
Read about the legislation |
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Sept. 19: Chris McClure will discuss how to avoid corporate greenwashing in your ESG reporting at the virtual 2023 Practical ESG Conference.
Sept. 19-20: Daniela Arias will speak on building an ESG data plan throughout the investment cycle at the Responsible Investment Forum in San Francisco. |
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| Looking for more information on ESG? |
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Check out our ESG resource center for the latest updates on regulations, best practices, and industry developments.
Ready to take the next step on your ESG journey? Contact our team. |
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