The big developments you might have missed in August

REP took a break in August, but we weren’t neglecting our duties: here are some of the key developments you might have missed  

Two consultations on climate transition guidelines were launched. 

The UK’s Transition Finance Council has given stakeholders, including “real economy corporates”, until September 19th to share their views on its draft guidelines, while the Australian government is taking feedback on new transition-plan guidance until the 25th.

And there is another consultation, this time on the EU Deforestation Regulation. The European Commission is asking for input into the simplification of the law until September 10th, as it moves to “reduce administrative burden without affecting the policy objectives pursued by the legislation”. 

The EU also committed to make sure its Corporate Sustainability Due Diligence Directive and Corporate Sustainability Reporting Directive don’t “pose undue restrictions on transatlantic trade”, as part of a recent trade deal with the US.

In a statement, the Commission said this would include reducing the administrative burden that due diligence rules put on businesses, and proposing changes to the civil liability regime and “climate-transition-related obligations”. 

California’s climate rule survived a legal challenge from the US Chamber of Commerce and other business groups. The US state’s district court denied the motion for a preliminary injunction against the incoming disclosure requirements, but the decision is being appealed.  

Meanwhile, the California Air Resources Board provided more details on the incoming rules, proposing that the first batch of companies should still be required to report by January 2026, but firms under the ‘SB 253’ label will have until June. The board will publish a draft SB 253 report for public comment this month, it said. 

And, finally, talks for a Global Plastics Treaty failed yet again, after countries failed to reach an agreement during the latest round of negotiations in Switzerland. The UN-led initiative was blocked by governments including Saudi Arabia, the US and China.