The European Commission, the EU’s executive arm, is facing criticism over its plans to classify natural gas and nuclear energy as “green” investments. The proposal introduced late on New Year’s Eve will be included in the EU’s taxonomy and intends to provide a common set of definitions of what constitutes a “sustainable investment” in Europe.

On October 19, UK Chancellor Rishi Sunak announced the publication of a new report, Greening Finance: A Roadmap to Sustainable Investing, outlining the country’s strategy for implementation of new Sustainability Disclosure Requirements (SDR) for investors and businesses. These latest requirements align with standards set by the Task Force on Climate-related Financial Disclosures (TCFD).

On Friday, October 1, SFA submitted a response to The European Commission’s (EC) Targeted Consultation on the Functioning of the EU Securitisation Framework.

September 2, in coordination with other global trades, SFA submitted a unified response to Her Majesty’s Treasury Call for Evidence regarding securitization regulations in the UK. In order to show global alignment, SFA, the Association for Financial Markets in Europe, UK Finance, and the Australian Securitisation Forum submitted identical language regarding ambiguity around the geographical scope of the EU/UK Securitization Regulation's requirements and how this has impeded securitization transactions.

Reuters reports U.S. Treasury Secretary Janet Yellen is expected to push for a global minimum corporate tax rate above the 15% that was previously agreed to by 130 countries last week. The deal is widely expected to be endorsed by G20 finance leaders when they meet this weekend in Venice, Italy for the International Conference on Climate.

In coordination with the celebration of Earth Day, the Biden administration is hosting 40 world leaders in Washington, D.C., for the Leaders Summit on Climate taking place April 22 and 23. The goal of the Summit is to underscore the urgent need for stronger climate action and highlight the economic benefits of doing so "with a strong emphasis on job creation, and the importance of ensuring all communities and workers benefit from the transition to a new clean energy economy."

On October 1, SFA submitted a response to the Consumer Financial Protection Bureau on their Notice of Proposed Rulemaking for QM Loan Seasoning.

On Tuesday, June 30, SFA submitted feedback on the European Commission’s Capital Markets Union High Level Forum Report.

On Monday, the World Bank predicted that 2020 would see the first increase in global poverty since 1998.

As China experiences a sharp drop in coronavirus cases, its consumers begin to cautiously return to malls and restaurants.