Sustainability Winter Break Recap: 15 December-5 January

At the end of 2025, we published a flash note on the end of the ban on sales of combustion-engine vehicles in Europe, as well as a flash note following the publication of the AMF’s annual report on corporate governance and executive remuneration. At the European level, Parliament approved the omnibus agreement on CSRD and CS3D. ESMA released a study assessing the impact of its guidelines on ESG fund naming. The European Commission presented an omnibus package on human and animal food safety, including measures on pesticides, and also published delegated acts on CBAM, which entered into force in January 2026. Global coal demand reached a record high in 2025 and is expected to decline by 2030, according to the IEA. Only 3 of the 13 chemical companies analyzed by ChemSec report that hazardous substances are material to their business activities. According to ICAO, airlines will soon be informed of their offsetting obligations under CORSIA. On the social front, Volkswagen’s Dresden site is expected to close, marking the first such closure in Germany. In governance, the decree completing the measures of the French Attractiveness Law has been published in the French Official Journal. Trump has issued an executive order targeting proxy advisory firms and shareholder resolutions. The Board of Directors of BP has appointed Meg O’Neill as the next CEO.