During the week of the G7 Summit, both the U.S. and UK issued a new round of Russia-related sanctions as Russia’s invasion of Ukraine enters its 28th month. On June 12, 2024, the U.S. Department of the Treasury’s Office of...more
6/19/2024
/ Economic Sanctions ,
Foreign Policy ,
Foreign Relations ,
Foreign Trade Regulations ,
G7 ,
Military Conflict ,
Office of Foreign Assets Control (OFAC) ,
Popular ,
Russia ,
SDN List ,
UK ,
Ukraine
Greenwashing remains at the top of enforcement agendas in 2024. Marketing products and services as “green” and “sustainable” is a common practice and seen as an important way to attract the attention of environmentally...more
The U.S., EU and UK have imposed significant new sanctions and are stepping up enforcement against sanctions evaders on the second anniversary of Russia’s full-scale invasion of Ukraine. On February 23, 2024, the U.S....more
2/28/2024
/ Economic Sanctions ,
EU ,
Foreign Policy ,
Foreign Relations ,
Foreign Trade Regulations ,
Military Conflict ,
Russia ,
Sanction Violations ,
UK ,
Ukraine ,
Vladimir Putin ,
White Collar Crimes
On October 17, 2023, Themis, a technology platform that helps its clients manage their financial crime risk exposure, and World Wildlife Fund (WWF) UK, announced that they are working together to produce a Deforestation and...more
On October 17, 2023, the Competition and Markets Authority (CMA) announced that it had opened an investigation into a distributor of heating and insulation products, following allegations that it had made misleading claims...more
On October 26, 2023, the UN Environment Programme (UNEP) published a report with recommendations for linking climate-related actions taken by non-state actors (NSAs) to the Enhanced Transparency Framework (ETF) established by...more
On October 2, 2023, the EU markets regulator, the European Securities and Markets Authority (ESMA), published a study indicating that the proportion of investment funds in Europe using ESG-related terms in their fund names...more
At a September legal conference convened by the European Central Bank (ECB), Frank Elderson, a member of the ECB’s executive board and vice-chair of its supervisory board, observed the increasing risk of climate lawsuits and...more
In September 2023, the UK’s Institute of Directors (IoD) announced its broad support for changes to the UK Corporate Governance Code proposed by the Financial Reporting Council (FRC). The FRC’s proposed revisions seek to...more
On September 19, 2023, the European Parliament and European Council agreed on a proposed set of rules to ban misleading advertisements and enhance product information provided to consumers. “Empowering Consumers for the Green...more
On September 6, 2023, climate-focused investor engagement initiative Climate Action 100+ (CA100+) published the Net Zero Standard for Diversified Mining (the Standard), allowing investors to assess the transition plans of...more
In September 2023, the European Central Bank (ECB) published its second economy-wide stress test, shedding light on the credit risks that European banks may face as a result of the ongoing climate transition....more
In August 2023, the UK pensions regulator’s climate and sustainability lead, Mark Hill, authored an article setting out how trustees can improve the climate-scenario analyses used by their schemes, in order to make them more...more
On September 27, 2023, KLM Royal Dutch Airlines filed a request with the Amsterdam District Court, asking it to dismiss a greenwashing suit brought by environmental activist groups. According to a statement by ClientEarth,...more
On August 24, 2023, at World Water Week in Stockholm, the COP28 UAE Presidency announced its Water Agenda ahead of COP28, formally known as the 2023 United Nations Climate Change Conference, to be held between November 30 and...more
On August 10, 2023, the Australian Securities and Investments Commission (ASIC) announced its third civil penalty proceeding this year for greenwashing against LGSS Pty Limited, which is trustee for superannuation fund Local...more
9/27/2023
/ ASIC ,
Australia ,
Climate Action Plan ,
Climate Change ,
Corporate Social Responsibility ,
Enforcement Actions ,
Environmental Social & Governance (ESG) ,
Greenwashing ,
Investment ,
Misleading Impressions ,
Securities Regulation ,
Sustainable Business Practices
On August 9, 2023, the Brazilian city of Belém hosted a summit of the Amazonian Cooperation Treaty Organization (ACTO) with the participation of Bolivia, Brazil, Colombia, Ecuador, Guyana, Peru, Suriname and Venezuela. The...more
In July 2023, the Australian Competition and Consumer Commission (ACCC) released draft guidance for businesses making environmental and sustainability claims (the Draft Greenwashing Guidance). The Draft Greenwashing Guidance...more
On July 6, 2023, the European Securities and Markets Authority (ESMA), in collaboration with National Competent Authorities (NCAs), launched the Common Supervisory Action (CSA) aimed at assessing the compliance of supervised...more
On July 11, 2023, the European Securities and Markets Authority (ESMA) issued a Public Statement outlining its expectations for sustainability-related disclosures to be incorporated into prospectuses. In its statement, ESMA...more
On June 27, the European Parliament proposed amendments to legislation aimed at reducing pollution in Europe’s water bodies covering inland, transitional and coastal surface waters and groundwater, to better protect human...more
8/10/2023
/ Environmental Policies ,
EU ,
European Parliament ,
Green Deal ,
Groundwater ,
Infrastructure ,
Pollution Control ,
Regulatory Agenda ,
Regulatory Oversight ,
Surface Water ,
Water Supplies
The Association of British Insurers published guidance (the Action on Nature Guide) setting out what insurers and long-term savings providers can do to help prevent biodiversity loss in the UK and become more “nature...more
On July 5, an industry-led working group convened by the UK’s financial regulator published a draft voluntary code of conduct for ESG data and ratings providers (the Code). The Code would apply to all companies based in the...more
In progress reports to the European Commission (EC) published on June 1, 2023, the European Banking Authority (EBA), European Insurance and Occupational Pensions Authority (EIOPA) and European Securities and Markets Authority...more
On June 5, 2023, Brazil’s President, Luiz Inácio “Lula” da Silva, and the Minister of the Environment, Marina Silva, announced a package of eight presidential decrees designed to increase Brazil's leadership in mitigating...more