In a major step toward decarbonizing the transport sector, Aramco and Chinese electric vehicle giant BYD have entered into a strategic alliance to accelerate innovation in energy-efficient and low-emission vehicle technologies. The partnership is anchored by a Joint Development Agreement between Saudi Aramco Technologies Company...
Philippines Expands Green Force Mandate to Accelerate Sustainable Finance Reforms
The Department of Finance (DOF) is intensifying its push for sustainable finance by expanding the role and membership of the Inter-Agency Technical Working Group on Sustainable Finance (ITSF), commonly known as the Green Force. The move comes as the country gears up for more targeted and transformative implementation of its Sust...
ESMA Recommends Lighter Compliance Load and Clearer ESG Disclosures for Benchmarks
The European Securities and Markets Authority (ESMA) has released the findings of its 2024 Common Supervisory Action (CSA), calling for regulatory relief and improved ESG transparency under the EU Benchmarks Regulation (BMR). This coordinated review—ESMA’s first in partnership with National Competent Authorities (NCAs)—marks a s...
EU Streamlines Deforestation Regulation, Slashes Compliance Costs for Businesses
The European Commission has unveiled key revisions to the EU Deforestation Regulation (EUDR), aimed at reducing red tape and cutting compliance costs by up to 30%, while still upholding the regulation’s environmental integrity. The move is part of a broader effort under the EU’s Competitiveness Compass strategy to...
Saudi Arabia Makes Green Finance History with €1.5B Euro-Denominated Bond
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Green Finance
Saudi Arabia has made a pioneering move in sustainable finance by issuing the first-ever euro-denominated green bond by a sovereign in the MENA region. The €1.5 billion ($1.6 billion) bond, coordinated by J.P. Morgan, signals the Kingdom’s growing commitment to environmental sustainability and economic diversification under its ...
ASIC Issues Guidance on New Mandatory Climate Reporting Rules for Australian Companies
The Australian Securities & Investments Commission (ASIC) has released Regulatory Guide 280 (RG 280), outlining its approach to overseeing compliance with Australia’s new mandatory climate-related financial disclosure requirements. The guide offers clarity for companies preparing sustainability reports under the ...