Search Results for: Climate change

South Africa, added to FATF’s grey list this February (2023) (1), is overhauling its AML regime to escape this listing and better address financial crime and terrorist financing in Africa’s largest economy. The country’s FIU, the Financial Intelligence Centre (FIC), is confident about progress and “optimistic” it will be removed from the Financial Action Task Force (FATF) grey-list before its next mutual evaluation review, maybe beginning next year (2024).…

The wool and textile sectors of Australia and the UK will be closely assessing the impact of the UK-Australia Free Trade Agreement (FTA), which came into force on May 31 (1). The agreement, one of the first major trade deals stuck by the UK following its Brexit from the European Union (EU) in 2020, includes a significant reduction and removal of tariffs in trade between the two.…

In the wake of the European Union’s (EU) impending sustainability-focused textile regulations and guidelines (1), Peru stands uniquely poised to amplify its exports of alpaca, camelid fibers, and cotton. This South American nation’s key to unlocking European markets lies in aligning its sustainability initiatives with the EU’s visions.…

Digital textile printing could grow in Argentina, but successive international and national crises are hindering the trust needed for the industry to invest in this critical technology, especially as the country heads to October presidential elections that may lead to major economic changes.…

UN member states have been urged to create solid national policy and spending commitments to achieve the body’s Sustainable Development Goals (SDG) by 2030, including the key SDG4 on education. https://sdgs.un.org/goals/goal4 Its aim is inclusive and equitable quality education, delivering lifelong learning opportunities for all.…

Consumers worldwide increasingly seek out climate and environmentally friendly products, including paints, and industry is meeting this demand with a range of more sustainable products that they flag with green claims, such as carbon neutral or zero organic compounds (VOC). However, paint makers need to ensure they can prove those claims because regulators are cracking down on greenwashing.…

The Financial Action Task Force (FATF) has demonstrated how it wants countries to focus as much on effectiveness as technical compliance, with its latest mutual evaluation report on Luxembourg requesting more AML action in high-risk sectors (1).

This grand duchy, despite being compliant or largely compliant with all FATF’s 40 recommendations, bar recommendation 8 on non-profits (partial compliance), has a much weaker effectiveness assessment.…

A GRI (the Global Reporting Initiative) and EFRAG (the European Financial Reporting Advisory Group) joint statement has detailed the mutual recognition of reporting under both GRI and European Sustainability Reporting Standards (ESRS).

Stressing that both systems focus on double materiality (the impact of sustainability issues on companies and companies’ impact on sustainability), the GRI and EFRAG said they will establish a list of the ESRS disclosure requirements and datapoints that correspond to GRI disclosure requirements and datapoints, enabling ESRS reporting with reference to GRI.…

Regulators worldwide are cracking down on poor labour and environmental practices in apparel supply chains amid growing concerns about upstream parts of the clothing industry. Probes into major international fashion brands, who have been criticised about alleged malpractice by their suppliers have been encouraging legislative and regulatory reforms.…

Following the collapse of two high profile cases against mining majors Rio Tinto and ENRC (1), there have been broad calls for the UK’s Serious Fraud Office (SFO) to be reformed to better tackle complex cases. This includes reforms ranging from changing the disclosure regime and its investigative model, to better funding and more cooperation with other enforcement agencies.…