COP29, held in Baku, Azerbaijan, focused on climate finance and carbon markets. Key outcomes included a new global climate finance target of $1.3 trillion annually by 2035, with $300 billion specifically for developing countries. The conference also made progress on Article 6, establishing a global architecture for carbon markets. However, there was no significant advancement on phasing out fossil...

The Canadian government has announced new initiatives to support the country's transition to net-zero emissions by 2050. These include the development of Made-in-Canada sustainable investment guidelines and mandatory climate-related financial disclosures for large, federally incorporated private companies. The guidelines will help investors identify "green" and "transition" economic activities, w...

Canadian Sustainability Standards Board (CSSB) is taking momentum to develop the Canadian Sustainability Disclosure Standards (CSDS), which aim to align with the International Sustainability Standards Board (ISSB) standards while incorporating Canadian-specific modifications. Key updates include the release of draft standards CSDS 1 and CSDS 2 for public comment, with proposed adoption dates ext...

The European Union is working to simplify its environmental, social, and governance (ESG) regulations in response to increasing criticism from businesses and investors. The goal is to make the rules more practical and less burdensome, addressing concerns that the current framework is too complex and costly. This move aims to balance the need for robust ESG standards with the realities of impleme...