Newsletter

Corporate reporting on climate and nature risks is increasing despite resistance from the Trump administration, which continues to deny the proven science behind climate change. In an address to the General Assembly of the United Nations on Sept. 23, as reported by Reuters in one of our Top Stories this issue, Trump “dismissed climate change as ‘the greatest con job’ in the world” and renewed his attacks on renewable energy while promoting continued reliance on fossil fuels.

Reuters also reported that UN Secretary-General Antonio Guterres hosted a climate summit at the UN as he “tried to keep the world focused on continuing a global transition away from fossil fuels towards clean energy.” In June, Guterres was quoted saying “just follow the money,” highlighting the fact that US$2 trillion was invested worldwide in clean energy in 2024, compared to $1.2 trillion invested in fossil fuels. Investments in clean energy have increased about 70% in the last ten years.

While the US federal government is moving to eliminate reporting on greenhouse gas (GHG) emissions, widely recognized as a leading contributor to climate change, California is moving ahead with mandatory climate disclosure rules for companies doing business in the state. As reported in ESG News, California regulators recently published a list of 4,160 companies, including most S&P 500 firms, that must begin disclosing GHG emissions and climate-related financial risks beginning on Jan. 1, 2026.

ESG News reported that “60% of the named firms are headquartered outside California, meaning the rules will affect businesses with national and global operations.” In effect, the new rules “position California as a de facto national standard amid uncertainty over U.S. federal climate reporting.”

California’s approach to disclosing climate-related financial risks is closer to frameworks such as the Task Force on Climate-related Financial Disclosures (TCFD), widely used in Europe and Asia. ESG News also highlights that by mandating Scope 3 reporting, California is moving ahead of most U.S. regulators and placing pressure on companies to improve supply chain transparency.

While mandatory climate reporting has been the primary focus of regulators, corporations are also increasingly adopting standards for disclosure of nature-related risks. In another Top Story, the Taskforce on Nature-related Financial Disclosures (TNFD) recently issued its inaugural Status Report which demonstrates significant progress in market practice and standard setter engagement on nature-related issues. According to TNFD, “climate change and nature loss are now widely acknowledged as challenges that demand an integrated response.”

TNFD’s Status Report showed that 620 organizations from over 50 countries or areas, with assets under management (AUM) of US$20 trillion, have publicly committed to getting started with nature-related reporting aligned to the TNFD recommendations, which were first issued in September 2023. Over 500 first- and second-generation TNFD reports have been published, and 78% of reporting companies have integrated the presentation of their climate and nature reporting.

The G&A team is closely following the rollout of new mandatory climate reporting in California and we are available to provide guidance on how to meet reporting requirements. We are also experts on various reporting frameworks including TCFD and TNFD, and can answer your questions on how to integrate these frameworks into your organization’s sustainability reporting programs. For more information contact us at: info@ga-institute.com.

Top Stories

• Trump tells UN that climate change is ‘greatest con job’ globally(Reuters)

• California Names 4,000+ Companies Facing Mandatory Climate Disclosures(ESG News)

• TNFD 2025 Status Report: Significant progress in engagement on nature-related issues(TNFD)

Staying the Course

Positive stories showing that sustainability is alive and well

• California lawmakers pass bill to expand manufacturing decarbonization projects(ESG Dive)

• Sustainability remains hot topic in corporate America(The Harvard Gazette)

• China leads nations with new climate plans, defying US climate denial(Reuters)

Sustainability Standard Setters & Policy Makers

SEC, ISSB, SASB, GRI, IIRC, FSB-TCFD...and more

• Court Orders SEC to Either Defend, Change or Repeal Climate Reporting Rules(ESG Dive)

• A CSRD Update - "Stop the Clock" Transposition, ESRS Revisions and CSRD Negotiations(Ropes & Gray)

ESG / Sustainable & Responsible Investment

Asset Owners & Managers, Ratings Agencies

• Environmental Finance publishes its 2025 Sustainable Loans Insight(Environmental Finance)

• Evolution of sustainable investing: Real versus alternative facts in finance(ESG Dive)

• Sustainable funds outearned traditional investments in 1st half of 2025: Morgan Stanley(ESG Dive)

Corporate ESG / Sustainability

Disclosure, Reporting, Corporate Initiatives

• How aligned ESG reporting bolsters global trust, competitiveness and accountability(Dairy Reporter)

• Carbon pricing is the only way to decarbonise heavy industry, experts say(Sustainable Views)

• Regardless of Politics, Leaders Say Sustainable Policies ‘Make Sense’(Newsweek)

Sustainability Innovations / Technologies

Developments in Innovation and Technology

• Material Innovation and Verification in Circular Fashion(Sourcing Journal)

• Edible Cups Market Set to Double by 2035 as Sustainability Reshapes Global Food & Beverage Packaging(Open PR)

• Proprietary vs. Non-Proprietary UHPC: New Study Reveals Environmental Trade-Offs(AZO Build)

Stakeholders That Matter

Developments, Trends, Corporate Actions Affecting Stakeholders

• U.S., U.K. aim to usher in "golden age of nuclear" in series of deals(Axios)

• Assessing Climate Transition Plans: Leveraging Data to Serve Investors’ Strategies(Sustainalytics)

Sustainability Data in Focus

Developments in Data, Research, Trends

• Forbes Research Uncovers Reasons For Sustainability Optimism In Executive Survey(Forbes)

• The burden of proof has flipped: why is nature not material to your business?(Reuters)

• 85 percent of people say companies should push governments on climate action(Trellis)

Climate Action in Asia, Africa, & Oceania

News-Developments of Note

• Hong Kong Positions Itself as Global Hub as 90% of Family Offices Integrate ESG(ESG News)

• Australia Sets 62–70% Emissions Cut Target by 2035, Launches $7 Billion in Climate Funding(ESG News)

• Japan, China, South Korea to cooperate to address climate change(Japan Today)

Climate Action in North & South America

News-Developments of Note

• US Environmental Protection Agency moves to dismantle facility-level climate reporting(Corporate Disclosures – subscription required)

• California just aligned its carbon market with Washington's: Why that matters(Phys.org)

• Trump’s energy, climate policies could slash decarbonization pace up to 64%: report(ESG Dive)

Climate Action in Europe

News-Developments of Note

• Denmark to Launch EU-Standard Green Bonds, Raising the Bar for Sovereign Issuance(ESG News)

• European Court Rules Nuclear, Fossil Gas Can be Included in EU Taxonomy(ESG Today)

• ESMA, EU Environment Agency Tighten Ties on Sustainable Finance Oversight(ESG News)

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