The landscape of environmental and human capital regulations has seen an unprecedented rise, with a 155% increase in the past decade. A staggering 1,255 policy interventions have emerged globally since 2011, spotlighting the intensifying regulatory focus on transparency and standardization of sustainability data.
As we advance into 2024, we’re poised to witness a significant uptick in regulatory activities. Businesses are expected to shift their perspectives, recognizing that adherence to these regulations offers a chance to fundamentally transform their operations.
Regulations to Watch in 2024:
- U’s Corporate Sustainability Reporting Directive (CSRD): Starting January 1, 2024, large EU companies and listed SMEs must start reporting on their climate impact. This applies to EU companies that meet certain size requirements and non-EU companies with significant EU operations.
- SEC’s Climate Disclosure Rules: These rules are set to take effect in the US in April 2024, requiring public companies to report their greenhouse gas emissions and other climate information.
- Sustainable Finance Disclosure Regulation (SFDR) – European Parliament: As part of the EU’s green finance strategy, the SFDR requires financial institutions to report on environmental and social data by June 2024.
- California’s Climate Corporate Data Accountability Act (SB253): Companies with over $1 billion in global revenue that do business in California must prepare to audit their 2025 emissions for reporting in 2026. This will impact many companies and is part of a wider movement in various states across the US.
Select a country to view their reporting mandates.
These impending rules underscore the necessity for capital owners, asset managers, and companies to remain updated on disclosure requirements. Harmony Analytics is here to ensure you stay compliant and informed. Our platform gathers, organizes, and contextualizes comprehensive data, offering clarity amidst the regulatory shifts.