United Nations Global Compact - Communication on Progress 2022
Since 2021, van Berings has been committed to the UN Global Compact and we are glad to share with you our 2022 Communication on Progress.
Guiding Principles on ESG and Sustainable Investment Funds Introduced by the Financial Conduct Authority
The Financial Conduct Authority (“FCA”) has recently received an influx of applications for the authorization of climate-related funds. However, the Authority has deemed the majority of these to have serious shortcomings. In a bid to ensure quality applications, as well as full compliance with FCA standards, the Authority has recently published two Policy Statements, targeted at ESG-related investment funds. These guidelines mainly promote climate-related financial disclosure.
The FCA’s new Policy Statements are aimed at increasing transparency regarding how firms are managing climate-related risks and opportunities, so that clients and consumers are empowered to make informed decisions. The new guidelines require climate-related disclosures by asset managers, life insurers and FCA-regulated pension providers.
The Authority believes that this, in turn, will enhance market competition, benefiting consumers and offering protection from unsuitable products, while simultaneously driving investment toward greener projects and activities.
The new climate-related disclosure rules, requiring mandatory disclosures on an annual basis at entity and product level, have come into effect as of January 1st, 2022.
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Italy – Registration Tax on Share Pledges
Pursuant to Article 43(f) of Presidential Decree no. 131/1986, the basis for registration tax on deeds of pledge guaranteeing third parties’ obligations is represented by the guaranteed amount, or, if the collateral consists of money or securities, by the value of the pledged asset, if lower than that of the guaranteed obligations.
Logistics 4.0 – The Digital Supply Chain
In today’s global economy, the logistics sector has sustained considerable growth and is expected to grow further, in the years to come. Supply chain processes and transportation are critical factors for meeting the needs and demands of the global economy.
DISCLAIMER: the content of this news is for informational purposes only and neither represents, nor can be construed as a legal opinion