The regulatory arm of the Singapore Stock Exchange is asking for feedback on plans to introduce TCFD-aligned disclosure rules for listed companies, beginning at the 2022 financial year. In a consultation, the body is also considering whether sustainability reports should require assurance, and whether company directors need sustainability training.
The UK’s Liberal Democrats party has said that it would ban the listing of fossil fuel firms on the London Stock Exchange if it was elected. Speaking to the Guardian this week, the party’s leader Ed Davey said the policy would also stop bonds being issued in London to finance oil, coal or gas exploration.
The European Commission has extended its consultation on draft recommendations for its green and social taxonomies until 6 September. Last month, the Commission’s Platform on Sustainable Finance published its draft recommendation for feedback. The extra week will allow stakeholders more time to share their views.
Up to 76% of land earmarked for palm oil in Indonesia could become ‘stranded’ under a 1.5℃ climate scenario, according to analysis by Orbitas, an initiative of US non-profit Climate Advisers Trust. It was found that by 2040, palm oil prices could increase by 29% and the cost of concession land would increase by 52% under a scenario in which the goal of the Paris Agreement is met.
A German court has ruled that Uniper’s permit to construct its newest coal plant was illegally granted by local authorities, in a case brought by local residents supported by environmental law charity ClientEarth. The 1.1GW Datteln IV plant, which began operation in 2020, is scheduled to close in 2038 – making it one of the last coal-fired power plants under Germany’s coal phase-out plans – and has been a source of significant controversy due to its proximity to a children’s hospital. Yesterday’s court judgement will not force an early closure of the plant as it only relates to planning law, but a second lawsuit targeting its operating license is planned by campaigners. Uniper has no direct right of appeal against the judgement, but it was reported in German media that the firm was considering its legal options.