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 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
In July 2023, the Australian Competition and Consumer Commission (ACCC) released draft guidance for businesses making environmental and sustainability claims (the Draft Greenwashing Guidance).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 June 1, 2023, the European Parliament adopted amendments to the corporate sustainability due diligence regulation and amending directive. Under the amendments, large companies operating in the EU would be required to...more
6/7/2023
/ Biodiversity ,
Corporate Counsel ,
Due Diligence ,
Environmental Social & Governance (ESG) ,
EU ,
EU Directive ,
European Parliament ,
Forced Labor ,
Human Rights ,
Paris Agreement ,
Sustainability ,
Sustainable Business Practices
The UK Financial Conduct Authority (FCA) has announced that its widely-anticipated Policy Statement in response to the Sustainable Disclosure Requirements (SDRs) and investment labels consultation will now be published in Q3...more
On March 15, 2023, the UK’s Chancellor of the Exchequer, Jeremy Hunt, announced that nuclear power will be classified as “environmentally sustainable” in UK’s green taxonomy, “giving it access to the same investment...more
In a recent report, the UK-based NGO ShareAction claimed that “[t]he asset management industry needs to change urgently if it is to demonstrate proactive stewardship that safeguards against key social and environmental risks...more
On February 17, 2023, the European Commission granted approval for the Spanish and German governments to subsidize the construction of two renewable hydrogen-powered steel production facilities for Europe’s largest...more
3/3/2023
/ Carbon Emissions ,
Climate Action Plan ,
Climate Change ,
Environmental Social & Governance (ESG) ,
EU ,
Foreign Subsidies ,
Germany ,
Infrastructure ,
Spain ,
State Aid ,
Steel Industry ,
Sustainable Business Practices
On February 10, the UK’s Financial Conduct Authority (FCA) published a discussion paper titled “Finance for positive sustainable change: governance, incentives and competence in regulated firms.” The paper considers whether...more
South Pole, a Swiss carbon finance consultancy, has published a report which suggests that one in four companies around the globe have decided not to publicize details of their climate targets. This development has been...more