ESG

The European Commission has adopted new rules standardizing the format and content of prospectuses under the EU's Prospectus Regulation, introducing significant changes for debt capital markets including enhanced ESG disclosure requirements and reduced financial statement obligations. These amendments form part of the broader Listing Act package aimed at making EU public capital markets more attractive while streamlining compliance processes for smaller companies seeking to list.

The Securities and Exchange Commission (SEC) has undertaken additional steps to negate the Biden administration’s rulemaking with respect to ESG principles.

ASIC can pursue greenwashing enforcement even where investors suffer no direct financial loss, as demonstrated by the $12.9 million penalty in ASIC v Vanguard.