On 20 November 2025, the European Commission published its final legislative proposal to update the EU Sustainable Finance Disclosure Regulation (SFDR), commonly known as SFDR 2.0. 

In this edition, we look at the prospects for data centres in the UK, what to watch out for in the Budget and whether EU objections could derail UK planning reforms. We also discuss the clean energy aspects of the UK's Industrial Strategy, the impact of consumer law on the energy and infrastructure sectors, recent developments in sustainability reporting and the National Underground Asset Register.

Following the publication of a leaked draft of the European Commission's proposals for revisions to the EU Sustainable Finance Disclosure Regulation (SFDR), Travers Smith's Financial Services and Markets and Operational Risk and Environment teams have published a briefing on the key points contained within the draft text and their implications for asset managers.

As ESG goals and "pro-growth" initiatives remain high on governments' agendas, it is no surprise that competition law is having to examine its interaction with the green transition. Below, we discuss the key approaches to ESG collaborations from four key competition regulators: in the EU, UK, Japan and the US.^[1] Whilst navigating this complex and fast-paced regulatory landscape presents significant challenges for businesses operating across multiple jurisdictions, we also highlight some areas of helpful alignment and areas of risk mitigation that businesses and their advisers can take. 

Our round-up of recent and forthcoming developments in UK law and practice for our international stakeholders.

The environmental and social challenges we all face, and the implications of those for businesses, are not going away. And yes, we have seen changes in the EU (so long a leader on ESG) regulatory agenda – but that is too often taken to be a change in end-goal, rather than what it is: a change in means.