Financial institutions will, for the first time, be able to set science-based targets aligned with net-zero, following the release of the Science Based Targets initiative's (SBTi) Financial Institutions Net-Zero Standard.
Category: Regulation
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UK water regulator, Ofwat, to be abolished
Ofwat is to be abolished and a new, single regulator to be established to cut water pollution in England’s rivers, lakes and seas, and protect families from massive bill hikes. The new regulator will take responsibility for water functions across Ofwat, the Environment Agency, Natural England and the Drinking Water Inspectorate, in an effort to end complexity.
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Countries may sue each other under ICJ ruling
In a landmark ruling, the International Court of Justice (ICJ) has issued its Advisory Opinion on the Obligations of States in Respect of Climate Change, which reinforce climate obligations on States under existing treaties, conventions and protocols. It may open the way for countries to enforce climate obligations on other nations. This is a major step forward for decarbonisation, the acceleration of renewables and a renewed focus on Industrial Revolution 5.0.
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ISEP surveys the state of the sustainability profession for 2025
More than 40% of respondents to the Institute of Sustainability and Environmental Professionals’ (ISEP) 'State of the Sustainability Profession 2025 Report' have experienced a change in responsibilities in the past year, reflecting the rapidly evolving nature of the sustainability profession. There is now a wide and varied spread of topics within the remits of sustainability professionals, yet more than 70% of all respondents have a focus on waste management, climate change mitigation and energy efficiency.
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Climate-related financial risks: data is key says FSB
The Financial Stability Board (FSB) has delivered a report to the July 2025 meeting of G20 Finance Ministers and Central Bank Governors. It provides a factual update on the work undertaken by the FSB, standard-setting bodies and other international organisations in the four areas identified by the 2021 ‘Roadmap for Addressing Climate-related Financial Risks’. The Roadmap had been welcomed by the G20 in 2021.
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UK to become sustainable finance capital of the world
The UK Energy Secretary, Ed Miliband, has outlined plans to support banks and large companies in developing climate transition plans. To date, about 70% of FTSE 100 companies have voluntarily developed many of the key elements of a transition plan. The UK Government says that widespread transition planning will help provide long-term certainty and clarity to help scale the sustainable finance industry.
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OECD: accelerated climate action can drive growth and development
Ambitious climate targets that are underpinned by robust implementation and investment plans can provide economic opportunities, unlock investment, and support sustainable development and growth, while facilitating low-emission transitions, according to a new joint report by the OECD and the United Nations Development Programme (UNDP).
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Great British Energy legislation passes through Parliament
The Great British Energy Bill has received legislative consent from all three devolved governments. This will allow Great British Energy to operate more effectively in each devolved nation. Great British Energy will invest in clean power projects across the UK as part of the UK Government’s Plan for Change to become a clean energy superpower.
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Omnibus: EU Ombudsman opens inquiry after NGOs’ complaint
The EU Ombudsman has launched an inquiry into how the European Commission prepared its ‘Omnibus Simplification Package’. This follows a complaint brought by eight civil society organisations against the European Commission.
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What does the UK-EU Summit mean for energy and emissions?
The UK and the EU have agreed a substantial cooperation agreement in relation to trade and free movement. Included in the package are two energy and emissions trading arrangements.
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EU Commission simplifies CAP, including for environment
To simplify the Common Agricultural Policy (CAP) and boost farmers' competitiveness, the European Commission has presented a large package of measures targeting the administrative burden, controls, implementation, crisis response and investment needs of the sector.
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Law Society: on the front foot re climate risks
The Law Society in the UK has launched new guidance to help solicitors navigate climate change in property transactions. The Law Society said that, as climate risks become more prevalent, solicitors may need to highlight relevant legal issues to clients during property transactions. Its new practice note includes practical guidance to help address common challenges identified by solicitors.
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Green claims: if you are going to make them, get them right
The Advertising Standards Authority (ASA) is making it clear this week that it will not tolerate sloppy language around green claims in advertising. Two challenges in relation to composting coffee capsules or bags have been upheld and are worth a read if you are reviewing how you take your products to market.
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IFRS Foundation and TNFD team up on nature
The IFRS Foundation and the Taskforce on Nature-related Financial Disclosures (TNFD) have signed a Memorandum of Understanding committing to build upon the TNFD recommendations in the ongoing work of the International Sustainability Standards Board (ISSB), to enable nature-related financial disclosures for use by capital markets. The ISSB will consider the relevance of the TNFD recommendations in meeting the needs of global capital markets.
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People in the supply chain matter
People keep getting packaged up by business. Be it in gender pay gap reporting, racial equity programmes, menopause initiatives or the muddle of staff surveys. But shouldn’t the conversation about people be about the sweet spot where business looks after its people and people serve their employers?