Blog

Introduction Impact measurement has become a central obligation for financial institutions operating within evolving regulatory frameworks including the EU Sustainable Finance Disclosure Regulation (SFDR), the UK Sustainability Disclosure Requirements (SDR), and the International Sustainability Standards Board (ISSB) guidance. Within this landscape, the Theory of Change (ToC) is one of the…

Directive (EU) 2026/470, adopted on 24 February 2026 and published in the Official Journal on 26 February 2026, amends EU corporate sustainability reporting and corporate sustainability due diligence rules by narrowing scope, introducing value chain protections, removing the transition to reasonable assurance, and reshaping the Corporate Sustainability Due Diligence Directive…

The integration of environmental, social, and governance (ESG) factors into the prudential supervision of the European financial sector represents one of the most significant shifts in regulatory methodology since the implementation of Basel III and Solvency II. On January 8, 2026, the European Supervisory Authorities—the European Banking Authority (EBA), the…

We reviewed if this year will be any changes regarding ESG on the USA market and would like to share a recent update that suggests a fundamental, and perhaps irreversible, bifurcation of the American corporate reporting landscape. While the federal government has effectively beat a strategic retreat into the safety…

What is changing in SFDR in 2025? In November 2025, the European Commission published a legislative proposal to amend the Sustainable Finance Disclosure Regulation (SFDR – Regulation (EU) 2019/2088). The proposal fundamentally restructures how sustainability-related financial products are regulated, disclosed, and marketed in the European Union. Rather than expanding disclosure…

Introduction: Why ESG ratings supervision now matters Environmental, Social and Governance (ESG) ratings have become a structural component of EU capital markets. They influence investment decisions, portfolio construction, sustainability disclosures, and risk management across the financial system. As their market relevance has grown, so too has regulatory concern around methodological…

When Donald Trump speaks about Greenland, he does so in the grammar of ownership. When Europe speaks about Greenland, it reaches for consultations, joint communications and regulatory updates. The contrast is telling and increasingly consequential. The Arctic is no longer distant enough to be abstract, nor stable enough to be…

Generation Z is not just interested in sustainable investing; they are treating it as a moral mandate and a pragmatic defense against a world they perceive as fundamentally unstable. This generation, fluent in financial technology and digital activism, is wielding its nascent capital and vast future wealth to dismantle the…

The ISSB was supposed to be the “Gold Standard” for climate reporting. Its latest amendments suggest it is settling for being the “Pragmatic Standard.” For the past two years, the International Sustainability Standards Board (ISSB) has marched under a single, ambitious banner: the “Global Baseline.” The goal was to create…

For years, Europe’s financial services industry has grappled with one of MiFID II’s most ambitious, and perhaps most disruptive, reforms: the mandated separation (or “unbundling”) of payments for investment research and trade execution services. The policy, intended to eliminate conflicts of interest and ensure clients received value, inadvertently created an…