PWC – ESG Digest for September 2023

PwC, in its ESG Digest for September 2023, notes that Kazakhstan is emphasising the development of a green economy. A draft treaty aimed at combating plastic pollution has been published in the United Nations Publication. It was also confirmed that GRI and EFRAG reporting standards are compatible. The European Union Commission requires open disclosure of sustainability information for all financial products. The United States Treasury has published zero-emissions principles for financial institutions, and the US Securities and Exchange Commission has introduced rules requiring ESG funds to have 80 per cent ESG assets. In its study, PwC says global decarbonisation needs to be accelerated 12 times to meet the Paris Agreement. The US announced a $15.5bn investment to convert factories to produce electric cars. G20 countries reached an agreement to triple the share of renewable energy. The European Parliament voted to increase the share of green energy to 42.5% by 2030, and the EU banned consumer products containing microplastics. A $24 trillion investor group launched a biodiversity campaign. The EU reached an agreement to ban claims of "climate neutral" products, and France announced a plan to reduce emissions by 55 per cent by 2030. Uzbekistan hosted the first business forum on ESG practices.