Sustainability Weekly 26 May – 06 June

In recent weeks, news surrounding the omnibus has confirmed the wide diversity of stakeholder opinions. In Germany, the financial regulator is calling on asset managers to be more transparent regarding the inclusion of defense-related securities in sustainable funds. In Belgium, the sustainable finance label may adjust its defense-related exclusions to better reflect market expectations. The European Commission has adopted the European Water Resilience Strategy. According to the IEA, global energy investment is expected to reach $ 3.3tn in 2025, despite economic uncertainties and energy security concerns. In climate justice, the Hamm Court of Appeal dismissed Peruvian mountain guide Saúl Luciano Lliuya's appeal against RWE, but recognized the companies' civil liability for climate damage. On June 5, TotalEnergies appeared before the Paris Judicial Court, accused of deceptive marketing practices, following a complaint filed in 2022 by three NGOs. On the social front, Iberdrola is facing a massive strike, the first in a hundred years, according to unions. STMicroelectronics plans to cut 5,000 jobs over three years, while rumors about the end of joint Franco-Italian governance have been denied. On the governance front, Publicis has excluded the United States from its ESG targets for calculating its CEO's compensation and removed ESG criteria from its long-term compensation plan (LTIP).