EU Set to Reassess Corporate Accountability Under Stricter ESG Regulations

The European Union is gearing up to undertake a comprehensive review of corporate liability frameworks as it aligns with its ambitious Environmental, Social, and Governance (ESG) legislation. This evaluation is particularly crucial, given that the EU's regulations are considered the most stringent globally, aimed at ensuring businesses adhere to set sustainability standards.

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Citigroup Scales Back ESG Research Team, Leading to Job Cuts

In a significant restructuring move, Citigroup has announced the reduction of its Environmental, Social, and Governance (ESG) research team, resulting in a number of job losses within this sector. This decision comes amidst increasing pressure on financial institutions to streamline operations and focus on profitability, while also grappling with the broader implications of ESG investing in the wake of changing market dynamics.

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