Yesterday, The European Commission adopted a detailed set of reporting regulations for the transitional phase of the Carbon Border Adjustment Mechanism (CBAM). Set to begin on October 1, 2023 and extend through the year 2025, this transitional phase aims to lay the groundwork for the CBAM's full implementation.

Today, in an effort to further enhance sustainability practices the European Commission has proposed a new regulation that seeks to foster greater transparency and regulatory scrutiny in the Environmental, Social, and Governance (ESG) ratings industry. This development marks a crucial step in ensuring accurate and reliable ESG information for investors, companies, and stakeholders. The proposed regulation aims to address concerns surrounding the quality and reliability of ESG ratings, which play a pivotal role in guiding investment decisions and corporate sustainability strategies. By subjecting ESG ratings providers to greater regulatory scrutiny, the European Commission hopes to establish a robust framework that instills credibility, accountability, and transparency in the industry.