ESG International Weekly News 7/24-7/30

August 01,2023
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Resources: ESG Today
1. Republicans Propose New Series of Anti-ESG Reporting and Investing Laws
   共和黨提議新一系列反ESG報告和投資法律

Republicans on the House Financial Services Committee in the U.S. Congress have introduced a series of bills aimed at countering the influence of Environmental, Social, and Governance (ESG) initiatives in capital and financial markets. The proposals seek to impede the implementation of ESG and climate-related disclosure requirements on companies and restrict investors' engagement on sustainability issues. The bills suggest that companies report only on issues they consider material, exclude ESG-related shareholder proposals from proxy materials, and limit regulators' collaboration on climate-related financial risk. The move is part of a larger effort by Republicans to address what they see as threats posed by ESG initiatives to the American financial system. The bills include the GUARDRAIL Act, aimed at the SEC's climate-related disclosure rules, and the Protecting Americans' Retirement Savings from Politics Act, which makes it harder for investors to address ESG issues through shareholder proposals. Other bills, like the American FIRST Act and the Businesses Over Activists Act, further target the SEC's control over shareholder proposals and interactions with climate-related organizations.
共和黨在美國國會眾議院金融服務委員會提出了一系列法案,旨在抵制環境、社會和公司治理(ESG)在資本和金融市場上的影響。這些提案旨在阻礙企業實施有關ESG和氣候相關的披露要求,並限制投資者參與可持續性議題。這些法案建議企業僅報告他們認為重要的問題,從代理材料中排除ESG相關的股東提案,並限制監管機構在氣候相關金融風險方面的合作。此舉是共和黨為應對ESG倡議對美國金融體系所帶來的威脅而作出的更大努力。這些法案包括GUARDRAIL法案,旨在針對美國證券交易委員會(SEC)的氣候相關披露規則,以及《保護美國人退休儲蓄免受政治影響法案》,使投資者更難通過股東提案解決ESG問題。其他法案,如美國優先法案和《抑制活動主義法案》,進一步限制了SEC對股東提案和與氣候相關組織的控制。

2. IOSCO Calls on Regulators to Incorporate New IFRS Sustainability Reporting Standards
   IOSCO (International Organization of Securities Commissions) 呼籲監管機構納入新的國際財務報告準則(IFRS)可持續發展報告標準

IOSCO, the leading international forum and standards setter for securities regulators, officially endorsed the new IFRS sustainability and climate-related disclosure standards. This move is seen as a significant step towards consistent, comparable, and reliable sustainability information. Now, IOSCO is urging its 130 member jurisdictions, which regulate over 95% of global financial markets, to consider incorporating these new standards into their regulatory frameworks. The endorsement follows the publication of the new global standards for sustainability and climate reporting by the IFRS Foundation's International Sustainability Standards Board (ISSB). IOSCO had previously signaled support for the ISSB project and has now determined that the standards are appropriate to serve as a global framework for capital markets. This endorsement is expected to facilitate access to reliable sustainability-related information, enabling investors to assess sustainability risks and opportunities and make informed investment decisions. The IFRS Foundation is also planning an Adoption Guide to support regulatory implementation of the new standards.
IOSCO(國際證券監督組織),作為證券監管機構的主要國際論壇和標準設定者,正式支持新的國際財務報告準則(IFRS)可持續性和氣候相關的披露標準。此舉被視為迈向一致、可比和可靠的可持續性信息的重要一步。現在,IOSCO呼籲其130個成員司法管轄區(這些成員管轄超過全球95%的金融市場)考慮將這些新標準納入其監管框架。該支持是在國際財務報告準則基金會的國際可持續發展標準委員會(ISSB)發佈新的全球可持續發展和氣候報告標準後做出的。IOSCO此前已表示對ISSB項目的支持,並現已確定這些標準適合作為全球資本市場的框架。預計這一支持將有助於獲取可靠的可持續性相關信息,使投資者能夠評估可持續性風險和機遇,並做出知情的投資決策。國際財務報告準則基金會還計劃推出採納指南,以支持監管機構實施這些新標準。

3. India Announces New Disclosure & Investment Rules for ESG Funds
   印度宣布對ESG基金實施新的披露和投資規則

The Securities and Exchange Board of India (SEBI) has issued new rules for ESG investment funds in the country. ESG funds are now required to have at least 80% of their assets invested in securities aligned with their specific strategies. Asset managers must provide monthly ESG scores for holdings. SEBI has introduced a new ESG investment sub-category, allowing mutual funds to offer multiple ESG schemes to investors. The measures aim to facilitate green financing and enhance disclosures while mitigating the risk of greenwashing. Under the new rules, asset managers can offer various ESG funds with defined strategies. The disclosure requirements include clear ESG strategy names, monthly portfolio statements with BRSR scores, and disclosure of voting decisions made for ESG reasons. Fund managers must provide annual commentary on the application of ESG strategies, engagement activities, and outcomes. Asset managers are also required to obtain independent assurance and board certification for compliance with regulatory requirements for their ESG schemes.
印度證券交易委員會(SEBI)針對ESG投資基金發佈了新規定。現在,ESG基金需要至少80%的資產投資於與其特定策略相符的證券。資產管理人必須提供每月ESG評分。SEBI引入了新的ESG投資子類別,允許共同基金向投資者提供多個ESG方案。這些措施旨在促進綠色融資,提高披露水平,同時減輕綠色洗白風險。根據新規定,資產管理人可以提供具有明確策略的各種ESG基金。披露要求包括清晰的ESG策略名稱,附帶BRSR分數的每月投資組合報表,以及出於ESG原因的投票決策披露。基金經理必須對ESG策略的應用、參與活動和結果提供年度評論。還要求資產管理人獲得獨立保證,並由董事會證明其ESG計劃遵守監管要求。

4. Walmart, PepsiCo to Invest $120 Million in Regenerative Agriculture
   沃爾瑪(Walmart)和百事可樂(PepsiCo)將投資1.2億美元用於再生農業

Walmart and PepsiCo have announced a strategic collaboration to promote regenerative agriculture practices across more than 2 million acres of farmland in the U.S. and Canada. The companies plan to invest $120 million to support farmers in improving soil health and water quality. Regenerative agriculture aims to address the environmental impact of the sector by restoring ecosystems, enhancing soil health, reducing emissions, and promoting biodiversity. The initiative targets approximately 4 million metric tons of greenhouse gas emission reductions and removals by 2030. The collaboration aims to elevate farmer livelihoods, engage them in sustainable soil management, and increase yields. This partnership is a significant step towards sustainable agriculture and inspiring others to invest in regenerative practices.
沃爾瑪(Walmart)和百事可樂(PepsiCo)宣布了一項戰略合作,旨在在美國和加拿大的200萬英畝以上農田推廣再生農業實踐。這些公司計劃投資1.2億美元,支持農民改善土壤健康和水質。再生農業旨在應對該行業的環境影響,包括恢復生態系統,增強土壤健康,減少排放,促進生物多樣性。該倡議目標是在2030年前實現約400萬公噸的溫室氣體排放減少。合作旨在提高農民的生計,幫助他們實施可持續的土壤管理,並提高產量。這項合作是實現可持續農業的重要一步,並鼓舞其他人投資再生實踐。

5. SAP Asks Top Suppliers to Report Product-Level Emissions by 2027
   SAP要求頂級供應商在2027年前報告產品層次的排放情況

SAP, a leading enterprise application software company, announced its plan to establish a multi-phased supply chain engagement program by 2024 to significantly reduce greenhouse gas emissions across its upstream value chain. The program includes a goal for each of its top 100 suppliers to report their company-wide and product-level emissions for key products by 2027. This initiative aligns with SAP's commitment to achieve net-zero emissions across its value chain by 2030. Scope 3 emissions, which include upstream categories like purchased goods and services, account for about 97% of the company's gross value chain emissions footprint. SAP will collaborate with suppliers to track and record product-level emissions while integrating environmental considerations into the procurement process through a new sustainability classification system and environmental impact criteria.
SAP(SAP,全球領先的企業應用軟體公司)宣布計劃於2024年建立一個分階段供應鏈參與計劃,旨在顯著降低其上游價值鏈中的溫室氣體排放。該計劃包括其前100名供應商每家報告公司整體和產品層面的關鍵產品排放情況,截至2027年。這一倡議與SAP實現價值鏈內零碳排放的承諾相一致,目標為在2030年實現。範圍3排放,包括購買商品和服務等上游類別,佔公司總價值鏈排放的97%。SAP將與供應商合作追蹤和記錄產品層面的排放,同時通過新的可持續性分類系統和環境影響標準將環境因素納入採購過程中。

6. Australia Regulator Launches Greenwashing Suit Against Vanguard
   澳大利亞監管機構對樂高投資公司提起洗綠訴訟

The Australian Securities & Investments Commission (ASIC), the country's corporate, markets, and financial services regulator, has taken legal action against Vanguard Investments Australia, accusing the investment manager of making false and misleading claims about one of its ESG funds. ASIC alleges that the Vanguard Ethically Conscious Global Aggregate Bond Index Fund, launched in 2018, did not exclude investments in fossil fuel-related companies as claimed. Instead, the fund invested in companies with ties to fossil fuels, contrary to its stated ESG strategy. ASIC asserts that Vanguard misled the public in various statements, including product disclosure statements and media releases. This lawsuit is part of ASIC's efforts to address greenwashing in the financial services industry, emphasizing the need for companies to uphold promises made about ESG exclusions in their investments. Vanguard has acknowledged the issue and has taken steps to enhance its product disclosure process and ESG management.
澳大利亞證券投資委員會(ASIC)是該國的公司、市場和金融服務監管機構,它已對樂高投資公司提起訴訟,指控該投資管理公司對其一個ESG基金做出虛假和誤導性聲明。ASIC聲稱樂高的「倫理意識全球綜合債券指數基金」於2018年推出時,並未如所聲稱地排除投資於與化石燃料相關的公司,而是實際上將資金投入了與化石燃料有關的公司,與其聲明的ESG戰略相違背。ASIC表示樂高在多種聲明中誤導了公眾,其中包括產品披露聲明和媒體發布。這起訴訟是ASIC解決金融服務行業中洗綠(greenwashing)問題的努力的一部分,強調了公司需履行有關ESG排除投資的承諾。樂高已承認了此問題,並採取措施加強產品披露過程和ESG管理。

7. Canada to Phase Out Public Fossil Fuel Financing
    加拿大將逐步淘汰公共化石燃料的金融工具

The Government of Canada introduced initiatives to reduce support for the fossil fuel sector, including a new framework to eliminate "inefficient" fossil fuel subsidies. The framework sets criteria for subsidies to meet in order to be considered efficient, including reducing greenhouse gas emissions and supporting clean energy. The government aims to align public finance with climate and energy priorities. Canada will identify current public financing and develop a plan to phase out fossil fuel sector financing beyond the subsidy elimination commitment. Environmental groups welcomed the announcement but urge the government to close gaps in the framework to ensure public funds support climate solutions.
加拿大政府推出一系列措施,旨在減少對化石燃料行業的支持,包括采用新框架來消除「低效」的化石燃料補貼。該框架設定了補貼必須滿足的標準,以被視為高效,包括減少溫室氣體排放和支持清潔能源。政府旨在將公共財政與氣候和能源優先事項保持一致。加拿大將確定當前的公共融資,並制定計劃,在補貼消除承諾之外逐步淘汰化石燃料行業的融資。環保組織對此宣佈表示歡迎,但敦促政府消除框架中的不足,確保公共資金支持氣候解決方案。

8. Goldman Sachs Launches New Green and Impact Bond Funds
   高盛(Goldman Sachs)推出了新的綠色和影響債券基金

Goldman Sachs Asset Management (GSAM) has announced the launch of two new sustainable bond funds, the Goldman Sachs Global Impact Corporate Bond Fund and the Goldman Sachs USD Green Bond Fund. These funds aim to allow investors to enhance the sustainability profiles of their portfolios by allocating to green, social, and sustainability bonds. The move comes in response to the significant growth in the sustainable bond market in recent years, with companies and governments increasingly turning to sustainable bonds to finance their climate, environmental, and social initiatives. Last year, such bonds accounted for a record 13% share of global bond issuance. The funds will be managed by a dedicated team within GSAM, utilizing the firm's proprietary green and impact bonds assessment methodology to select bonds that support impactful environmental, social, or sustainability projects. Both funds will make disclosures under Article 9 of the Sustainable Finance Disclosure Regulation (SFDR). Hilary Lopez, Head of EMEA Third Party Wealth at Goldman Sachs Asset Management, highlighted that investors are increasingly interested in directing their capital towards companies addressing social and environmental challenges, and these funds provide opportunities to do so while diversifying their fixed income portfolios.
高盛資產管理公司(GSAM)宣布推出兩款新的可持續債券基金,分別為高盛全球影響企業債券基金和高盛美元綠色債券基金。這些基金旨在讓投資者通過配置綠色、社會和可持續債券來提升其投資組合的可持續性。此舉是對可持續債券市場近年來顯著增長的回應,各公司和政府越來越多地採用可持續債券來為其氣候、環境和社會計劃提供融資。去年,此類債券在全球債券發行中佔比創下13%的紀錄。這些基金將由GSAM內專門團隊管理,利用公司獨有的綠色和影響債券評估方法來選擇支持環境、社會或可持續項目的債券。兩款基金都將遵循可持續金融披露規例(SFDR)第9條的披露要求。高盛資產管理公司歐洲、中東和非洲區第三方財富主管Hilary Lopez強調,投資者越來越有興趣將資本引導到解決社會和環境問題的公司,而這些基金提供了這樣的機會,同時實現固定收益組合的多樣化。

9. EU Council Adopts Laws Aimed at Cutting Emissions from Transport, Vehicles, Energy Consumption
   歐盟理事會通過了旨在減少交通、車輛和能源消耗排放的法律

The European Council has adopted a series of laws to achieve the EU's climate goals. These include measures to reduce energy consumption by 2030, deploy more recharging and refueling stations for alternative fuels, and reduce emissions in the maritime transport sector. The initiatives are part of the EU's "Fit for 55" roadmap, aiming to cut greenhouse gas emissions by 55% by 2030 compared to 1990 levels. The laws include energy efficiency targets, requirements for charging infrastructure for electric vehicles, and mandates for hydrogen refueling stations. The regulations also aim to increase the use of renewable and low carbon fuels in maritime transport, with gradual reductions in greenhouse gas intensity and a requirement for zero-emission technologies at ports.
歐洲理事會已經通過一系列法律來實現歐盟的氣候目標。這些法律包括減少2030年的能源消耗、在歐洲部署更多的替代燃料充電和加油站、以及減少海上運輸部門的排放。這些措施是歐盟“Fit for 55”路線圖的一部分,旨在將溫室氣體排放量在2030年與1990年相比減少55%。這些法律包括能源效率目標、電動汽車充電基礎設施要求,以及氫氣加油站的法定要求。該法規還旨在增加在海上運輸中使用可再生能源和低碳燃料,逐步減少溫室氣體排放強度,並要求在港口使用零排放技術。

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