ESG

Recent Articles

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    19/02/2024

    Financial Services Webinars On Demand

    Use the below link to view recordings of CMS financial services webinars available on demand. Webinars are a convenient way to stay informed and hear from our legal experts.   
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    29/11/2023

    Financial Services Webinars On Demand

    Use the below link to view recordings of CMS financial services webinars available on demand. Webinars are a convenient way to stay informed and hear from our legal experts.     
    Read more
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    28/11/2023

    FCA’s Policy Statement 23/16: Sustainability Disclosure Requirements (SDR) and investment labels

    Further to the FCA’s CP22/20 the FCA has published, on 28 November, its final rules and guidance to help consumers navigate the market for sustainable investment products (“PS23/16”).There is a huge amount of detail within PS23/16, and we will be providing more extensive commentary in the days to come. For now, we have highlighted the main changes from CP22/20, included the amended implementation timeline and a summary of the final package. What is changing in response to CP22/20?Most of the CP22/20 proposals have been amended – some more significantly than others –...
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    21/07/2023

    Future regulatory regime for ESG ratings providers: the wholesale markets response

    On 30 June 2023, the International Swaps and Derivatives Association ("ISDA”) and the Association for Financial Markets in Europe (“AFME”) (the “Associations”) published a Joint Associations Response (the “Industry Response”) to HM Treasury’s Consultation on the future regulatory regime for environmental, social and governance (“ESG”) ratings providers (the “Consultation”). We have previously written about the development of a Voluntary Code of Conduct for ESG Ratings and Data Product Providers (the “Voluntary Code”)....
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    23/06/2023

    The ESG journey in the United Arab Emirates

    With the UAE due to host the 28th session of the United Nations Conference of the Parties (“COP”) in November this year (COP 28),[1] there has perhaps never been a greater spotlight on, or opportunity for, ESG momentum in the region. Following the publication of the Middle East proposals for the region’s sustainability focus, we take a closer look into the position in the Middle East and UAE ahead of the UAE hosting COP 28. We will also draw some comparison with the UK’s recently published and proposed investment labelling and disclosure regime (“SDR”).What is...
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    15/12/2022

    FCA - Understanding approaches to D&I in financial services

    The FCA conducted its review via 12 regulated firms – 8 with large gender pay gaps and 4 with relatively small pay gaps. The average pay gap for the financial services market is 26.6%, which is far higher than the average for the wider UK market which is 12.1%. In conducting its review, the FCA asked each firm for some basic information including about their D&I policy and strategy, target setting initiatives and D&I data used. The FCA also requested a 90-minute structured interview with a senior individual and any relevant specialists at each firm. It is clear from the review that...
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