The European Union’s Corporate Sustainability Reporting Directive (CSRD), which entered into force in January 2023, marks a new era for ESG reporting across Europe (and globally). CSRD is the latest in a wave of new rules...more
7/26/2023
/ Climate Change ,
Corporate Governance ,
Corporate Social Responsibility ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
EU ,
EU Directive ,
Member State ,
Portfolio Companies ,
Private Equity ,
Reporting Requirements ,
Sustainability ,
Sustainable Business Practices
Following the publication of the ISSB Standards, the IFRS Foundation will take over monitoring of companies’ climate progress from 2024.
On 10 July 2023, the International Sustainability Standards Board (ISSB) and...more
On June 26, 2023, the International Sustainability Standards Board (ISSB) released its first two standards for sustainability disclosures, which are designed to facilitate the disclosure of sustainability-related information...more
The regulation aims to minimise the EU’s contribution to deforestation and forest degradation.
The European Deforestation Regulation (EUDR) entered into force on 29 June 2023, following publication in the Official Journal...more
The ASA conveyed a sense of urgency, as it believes influencing consumer behaviour will be an important part of meeting UK net zero targets.
On 23 June 2023, the UK’s Advertising Standards Authority (ASA) published an...more
6/29/2023
/ Advertising ,
Advertising Standards Authority ,
Climate Change ,
False Advertising ,
Greenwashing ,
Guidance Update ,
Marketing ,
Misleading Statements ,
Sustainable Business Practices ,
UK ,
UK Competition and Markets Authority (CMA)
The FTC will likely update Green Guides provisions, impacting corporate decision-making in marketing and throughout the value chain.
Latham & Watkins is pleased to present a series of Clients Alerts on environmental,...more
6/28/2023
/ Advertising ,
Chemicals ,
Climate Change ,
Environmental Claims ,
Environmental Social & Governance (ESG) ,
Federal Trade Commission (FTC) ,
Green Guides ,
Green Marketing ,
Greenwashing ,
Marketing ,
Recycling ,
Supply Chain ,
Sustainability ,
Sustainable Business Practices
The Guidelines build on current social, environmental, and technological issues facing businesses following the last update in 2011.
The Organisation for Economic Co-operation and Development (OECD) released updated...more
6/27/2023
/ Climate Change ,
Compliance ,
Corporate Governance ,
Corporate Social Responsibility ,
Due Diligence ,
EU ,
Guidance Update ,
Member State ,
Multinationals ,
OECD ,
Regulatory Agencies ,
Supply Chain ,
Sustainable Business Practices ,
Transparency ,
UK
Trialogue negotiations have begun following the parliament’s vote.
On 1 June 2023, the European Parliament voted to adopt its initial negotiating position on the EU’s proposed Corporate Sustainability Due Diligence...more
The public consultation seeks input on the priorities, strategic direction, and future work of the ISSB.
On 4 May 2023, the International Sustainability Standards Board (ISSB) launched a public consultation to seek input...more
The Commission has clarified requirements for financial product classifications and the definition of “sustainable investment” under the SFDR. ...more
5/24/2023
/ Alternative Investment Funds ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
EU ,
European Commission ,
European Supervisory Authorities (ESAs) ,
Financial Products ,
Investors ,
Market Participants ,
Marketing ,
Regulation Technical Standards (RTS) ,
SFDR ,
Sustainability ,
Sustainable Business Practices ,
UCITS
The government published a new document outlining its existing and proposed objectives to develop the UK’s sustainable economy.
On 30 March 2023, the UK government published an updated version of its Green Finance...more
4/28/2023
/ Carbon Capture and Sequestration ,
Climate Change ,
Corporate Governance ,
Disclosure Requirements ,
Financial Institutions ,
Green Finance ,
Investment ,
Investors ,
Net Zero ,
Public Policy ,
Sustainability ,
Sustainable Business Practices ,
Sustainable Finance ,
Taxonomy ,
UK
The EU’s latest initiative to enhance ESG disclosures will expand the requirements of earlier initiatives and bring considerably more companies within its scope.
On 5 January 2023, the Corporate Sustainability Reporting...more
The Council’s position includes a number of differences from the European Commission’s original proposal, including in relation to the requirement to diligence the broader value chain.
On 30 November 2022, the European...more
From 2024 at the earliest, more European and global companies will need to disclose their ESG activities in greater detail.
On 10 November 2022, the European Parliament adopted a final version of the Corporate...more
11/18/2022
/ Corporate Counsel ,
Corporate Governance ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
EU ,
EU Directive ,
European Commission ,
European Parliament ,
Financial Reporting ,
Sustainability ,
Sustainable Business Practices
The Final Report recommends five themes that financial institutions should incorporate into their net zero transition strategies.
On 1 November 2022, the Glasgow Financial Alliance for Net Zero (GFANZ) issued its Final...more
The outcome of the review may signal what climate-related laws and policies to expect in the UK in the coming years.
On 8 September 2022, newly appointed UK Prime Minister Liz Truss announced that Chris Skidmore MP, a...more
9/27/2022
/ Climate Change ,
Disclosure Requirements ,
Emissions Trading System ,
Environmental Policies ,
EU Directive ,
Greenhouse Gas Emissions ,
Net Zero ,
SFDR ,
Sustainability ,
Sustainable Business Practices ,
UK
This Client Alert probes the ESG “materiality assessment” process, why it is a misnomer, when and how the assessment can be conducted, and legal and practical tips for conducting the assessment.
Companies have been...more
The proposal highlights the growing global focus on companies’ human rights obligations not just towards employees but also towards workers in their supply chains.
On 14 September 2022, the European Commission (the...more
9/16/2022
/ Due Diligence ,
EU ,
European Commission ,
Exports ,
Forced Labor ,
Human Rights ,
Manufacturers ,
Member State ,
Proposed Regulation ,
Supply Chain ,
Sustainable Business Practices
EU Parliament and Council reach agreement on CSRD -
European Parliament and European Council | 21 June 2022 -
The European Parliament and European Council reached a provisional political agreement on the terms of the...more
8/18/2022
/ Antitrust Provisions ,
Blocked Mergers ,
Corporate Governance ,
Due Diligence ,
EU ,
EU Directive ,
European Commission ,
European Parliament ,
Exemptions ,
Natural Gas ,
Nuclear Power ,
Reporting Requirements ,
Sustainability ,
Sustainable Business Practices ,
Sustainable Finance ,
Unfair or Deceptive Trade Practices
The Corporate Sustainability Reporting Directive expands the existing sustainability reporting requirements and brings more companies under its scope.
On 21 June 2022, the European Parliament and European Council reached...more
6/24/2022
/ Audits ,
Certification Requirements ,
Compliance ,
Compliance Dates ,
Environmental Social & Governance (ESG) ,
EU ,
EU Directive ,
European Council ,
European Parliament ,
Publicly-Traded Companies ,
Reporting Requirements ,
Sustainability ,
Sustainable Business Practices
The move follows a number of similar standards that regulators and governments across the globe have proposed. With effect from 1 June 2022, the Guidance for Enterprise ESG Disclosure (the Guidance), published by...more
6/16/2022
/ Accounting Standards ,
China ,
Climate Change ,
Corporate Counsel ,
Corporate Governance ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
Greenhouse Gas Emissions ,
New Guidance ,
SASB ,
Supply Chain ,
Sustainability ,
Sustainable Business Practices ,
Task Force on Climate-related Financial Disclosures (TCFD)
A series of early-stage working papers provide insight into how a proposed EU legislation might expand companies’ ESG reporting obligations.
On 21 April 2021, the European Commission adopted the Corporate Sustainability...more
The government also introduced transition plan requirements for companies to meet the UK’s 2050 net zero target.
On 3 November 2021, the International Financial Reporting Standards (IFRS) Foundation Trustees Chair, Erkki...more
11/9/2021
/ Administrative Review Board ,
Climate Change ,
Corporate Governance ,
Environmental Policies ,
Environmental Social & Governance (ESG) ,
IFRS ,
International Regulatory Standards ,
Net Zero ,
Proposed Legislation ,
Public Policy ,
Sustainability ,
Sustainable Business Practices ,
Task Force on Climate-related Financial Disclosures (TCFD) ,
UK
The guidance offers clarification on key aspects of the TCFD’s recommendations on climate reporting.
On 14 October 2021, the Task Force on Climate-related Financial Disclosures (TCFD) released a new guidance document on...more
10/22/2021
/ Climate Change ,
Corporate Governance ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
Green Finance ,
Publicly-Traded Companies ,
Reporting Requirements ,
Sustainable Business Practices ,
Sustainable Finance ,
Task Force on Climate-related Financial Disclosures (TCFD) ,
UK
The roadmap introduces sustainability disclosure requirements for UK companies and reveals further developments in relation to a UK Green Taxonomy.
On 18 October 2021, the UK government released a report titled “Greening...more
10/21/2021
/ Climate Change ,
Corporate Governance ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
Green Finance ,
IFRS ,
Investors ,
Publicly-Traded Companies ,
Sustainability ,
Sustainable Business Practices ,
Task Force on Climate-related Financial Disclosures (TCFD) ,
UK