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Climate Change Risk: The Race To Regulation

Published by CUBE

This report is the first in a series of CUBE Industry Data Reports which leverages CUBE’s proprietary inventory of standardised regulatory data to draw meaningful insights from global regulatory activity.

As the first in the series, we were keen to explore a topic of regulation that remains relatively ethereal; Environmental, Social, Governance (ESG). The data, which comes from CUBE’s RegPlatform, explores 116,325 Issuances relating to ESG from global regulators and Issuing Bodies over the last 10 years.

Across the report, the data uncovers a number of findings that challenge perceptions of how climate risk and associated topics are being managed by Issuing Bodies across the globe. Greenwashing, for example, is a hotly debated topic. However, cumulative reference to greenwashing across global Issuing Bodies remains low.

Looking at the Issuing Bodies that published the highest volume of climate-related insights for financial services was also telling. Large institutions like the European Commission and the Information Commissioner’s Office have published more than 30,000 Issuances of climate-related content, but only around 500 of these were found within in-force regulation. Another insight came from Hawaii, where the Hawaiian Government have published more climate-related content (including in-force regulation) than many far more prominent bodies in other countries.

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