Crowe "ESG: Your September Update"

The September edition of our monthly newsletter, RE: ESG, is here to update you on the latest ESG developments.

The Securities and Exchange Commission’s (SEC’s) new Climate and ESG Task Force has initiated a number of enforcement actions across a variety of industries, which emphasizes the need for data-driven and verifiable disclosures. This month, our team offers eight ways organizations can prepare their data for ESG reporting requirements. You’ll find this and even more information about other ESG-related areas in the newsletter. 

We’d really appreciate your feedback or ideas for future topics. If you have questions or need help with ESG-related matters, contact me today.

Best wishes,

SEC’s Climate and ESG Task Force
The SEC has established the Climate and ESG Task Force to identify ESG-related misconduct. The task force has undertaken numerous ESG enforcement actions. 
Read more about the task force

Prohibition on products made with forced labor 
The European Commission has proposed a ban on all products made with forced labor in the European Union, including products for domestic consumption, exports, and imported goods. 
Learn about the proposal

California ban on chemicals in cosmetics 
The California legislature is proposing a ban on cosmetic products that contain intentionally added perfluoroalkyl and polyfluoroalkyl substances (PFAS), known as “forever chemicals.” 
Read the bill

Renewal of restriction of hazardous substances (RoHS) exemptions 
Commonly used RoHS exemptions (namely 6(a), 7(a), and 7(c)-I, among others) were set to expire in July 2023. Renewal requests were submitted for these exemptions and are currently under review by the European Commission. The exemptions remain valid until a decision is made by the commission. 
Find out more about RoHS exemptions

Microplastic restriction draft proposal 
The European Commission published a draft proposal to restrict the use of intentionally added microplastics in consumer and professional use products and expand the scope of microplastics included. Comments on the proposal are now being accepted. 
Get more information about the initiative

Pay-versus-performance disclosure rules 
The SEC adopted amendments to its rules to require registrants to disclose information reflecting the relationship between executive compensation paid by a registrant and the registrant’s financial performance. 
See the SEC press release