Today’s ESG Updates
- EU Hits Back at US Tariffs: The EU will impose new tariffs on US imports in response to the 25% tariffs on EU steel and aluminum, starting mid-April.
- UK Drops DEI Rule Plans: The UK financial regulators scrap proposed diversity and inclusion regulations due to political pushback.
- CFA Renames ESG Certificate: The CFA Institute renames its ESG Investing Certificate to “Sustainable Investing” amid growing controversy.
- LEGO Boosts Sustainability: LEGO increases sustainably sourced materials to 47% in 2024, alongside record profits.
The European Commission introduce countermeasures to Trump’s tariffs
The European Commission has announced swift countermeasures in response to the US’s unjustified 25% tariffs on EU steel and aluminum imports, which affect over €26 billion worth of EU exports. Starting April 1, existing countermeasures will be allowed to expire with new tariffs put in place by mid-April.
The EU remains open to negotiation as trade tension intensifies between the US. To stay on top of economic regulation changes, businesses can make use of ESG tools.
Video Credit: The Guardian
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Further reading: Commission responds to unjustified US steel and aluminium tariffs with countermeasures
UK Regulators scrap plans to introduce mandatory DEI rules
The UK’s Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA) have dropped plans to introduce new diversity and inclusion rules for City of London firms, amid backlash against “DEI” policies. The regulators acknowledged that such requirements could overlap with existing laws on gender and ethnicity pay gaps. Sam Woods, PRA CEO, stated they will not revisit the issue until after new legislation is implemented. The decision follows criticism from MPs and political figures, including Kemi Badenoch and Nigel Farage.
Photo Credit: Wikimedia Commons
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Further reading: UK finance watchdogs drop DEI drive amid Trump backlash
CFA Institute drops “ESG” label from its ESG Investing Certificate
The CFA Institute will rename its “Certificate in ESG Investing” to the “Sustainable Investing Certificate,” effective April 8, 2025. This change comes amid growing political controversy surrounding the term “ESG,” especially in the US following Donald Trump’s presidency and the rise of anti-ESG movements. CFA Institute stated that “sustainable investing” now better reflects the long-term goals of the certificate, though the curriculum will remain the same. The certificate was launched in 2021 to help investment professionals integrate ESG factors into decision-making.
Photo Credit: Wikimedia Commons
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Further Reading: CFA Institute Drops “ESG” Label from ESG Investing Certificate
Lego Groups doubles sustainable material use in 2024 sustainability investments
The Lego Group reported a record revenue of €9.96M in 2024, driven by popular demand for its increasing product portfolio. Lego aims to lead sustainable resourcing, increasing its sustainably sourced materials to 47%. The company continues to invest in sustainability across its supply chain and factories through clean energy initiatives. The company also positively impacted 12 million children through donations and play initiatives. Companies can adopt sustainable solutions like the Lego Group with ESG solutions.
Photo Credit: Amélie Mourichon
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Further reading: The LEGO Group delivers record top- and bottom-line results in 2024
Editor’s Note: The opinions expressed here by the authors are their own, not those of impakter.com — Cover Photo Credit: Wikimedia Commons
