Breaking news – Sustainable Finance - June 2024

What’s new in sustainable finance?

The Nature Restoration Law was finally adopted by all European countries on the 17th of June. The text was already approved and aims at requiring the implementation of ecosystem restoration measures on 20% of EU land and marine areas by 2030, and the restoration of at least 30% of habitats in poor condition.

A new mapping reveals a high level of commonality between TNFD and ESRS, with all 14 TNFD disclosure points required under ESRS and shared principles like the LEAP framework and double materiality. This alignment aids stakeholders in leveraging both frameworks effectively.

EU countries have agreed on a Green Claims Directive text with weaker language on carbon credits than the European Parliament's version, allowing companies to use 'high-quality' credits if they meet specific disclosure requirements. This directive aims to tackle greenwashing by setting standards for substantiation, communication, and verification of environmental claims.

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