ESG: The “S” of taxation
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Organizations that want to demonstrate a commitment to their people and communities can use the lens of tax to inform their ESG strategies.
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| Regulatory and governance updates |
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Executive order on environmental justice
Following through on his promise to modernize and improve how the federal government confronts environmental injustice, President Biden signed a new executive order that directs 24 federal agencies to address longstanding environmental inequities.
Learn about the commitments
ISSB’s future priorities
The International Sustainability Standards Board (ISSB) will seek feedback on its future priorities for the next two years, including potential projects related to biodiversity, ecosystems and ecosystem services; human capital; human rights; and integration in reporting.
Read more about ISSB developments
ISSB priorities for climate-related disclosures
On April 4, 2023, the ISSB decided to provide relief, including certain comparative information, in the first year of application of the new ISSB standards.
Understand what’s required when adopting ISSB standards
IAASB timeline for sustainability assurance proposal consultation
Subject to the expected International Auditing and Assurance Standards Board (IAASB) approval of the exposure draft in June, stakeholders can expect public consultation on International Standard on Sustainability Assurance™ (ISSA) 5000 to open in July or August 2023 and extend into December 2023.
Read more about developments on ISSA 5000
EPA power plant proposal
The Environmental Protection Agency (EPA) proposed new rules for coal and natural gas powered-plants to help reduce carbon pollution.
Read more on the proposed standards
EPA’s final risk determination for methylene chloride
Per the EPA , all but one use case shows that the well-known solvent methylene chloride presents unreasonable health risks, and major workplace exposure limits might be coming.
Read more about the exposure limits
New conflict and extended minerals reporting templates
The newest Conflict Minerals Reporting Template (CMRT) version 6.3 was released on May 5 and should be used for the 2023 calendar year reporting. The newest Extended Minerals Reporting Template (EMRT) version 1.2 was released on May 12 and should be used for the 2023 calendar year reporting.
Review the new CMRT reporting template
Review the new EMRT reporting template
New California Proposition 65 chemicals
1,1,1,-trichloroethane (used for grease removal) and leucomalachite green (used to detect presence of blood) have been added to the California Proposition 65 chemicals list.
Learn more about the disclosure requirements
Canadian forced and child labor act
The Fighting Against Forced Labour and Child Labour in Supply Chains Act will require certain companies to report on their steps to address forced and child labor in supply chains and to ban imports into Canada that are produced with child labor.
Read the act
8 new chemicals on REACH Authorisation List
The European Chemicals Agency (ECHA) recommended the inclusion of eight new substances on the REACH Authorisation List. These substances can only be used in certain use cases as defined by ECHA.
Read more about the new substances
Restriction on intentionally added microplastics
Intentionally added microplastics will soon be restricted in the European Union (EU). Specific restricted chemicals are still to be determined, but the scope will likely be broad and impact a large variety of industries.
Learn more about ECHA's view on microplastics |
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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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