REGULATORY ISSUES & UPDATES -
Update on Australia's New Climate-Related Financial Disclosure Regime -
Australia's mandatory climate-related financial disclosure regime is inching closer to implementation after the proposed...more
9/23/2024
/ Clean Air Act ,
Clean Energy ,
Climate Change ,
Disclosure Requirements ,
Enforcement Actions ,
Environmental Policies ,
Environmental Protection Agency (EPA) ,
Environmental Social & Governance (ESG) ,
Greenhouse Gas Emissions ,
Greenwashing ,
Popular ,
Tax Credits
The Development: Recently, the Australian Competition and Consumer Commission ("ACCC") published draft guidelines designed to assist businesses to understand how they can collaborate on sustainability initiatives without...more
Australia's mandatory climate-related financial disclosure regime is inching closer to implementation after the proposed legislative reforms were passed by both Houses of Parliament in September 2024. As discussed in our...more
ESG-related enforcement remains a top priority and focus for Australia's corporate regulators. Since our last update, there has been a steady stream of enforcement activity aimed at climate-related representations and...more
9/17/2024
/ ASIC ,
Australia ,
Australian Competition and Consumer Commission (ACCC) ,
Australian Consumer Law ,
Climate Change ,
Enforcement Actions ,
Enforcement Priorities ,
Environmental Claims ,
Environmental Policies ,
Greenwashing ,
Investment
The Development: On August 22, 2024, the Australian Senate passed the Treasury Laws Amendment (Financial Market Infrastructure and Other Measures) Bill 2024 ("Bill")....more
This White Paper focuses on ESG developments through the Asia-Pacific (“APAC”) region since the start of 2024.
For businesses present in the APAC region, as well as doing business there, it is imperative to be vigilant of...more
7/24/2024
/ Asia Pacific ,
Climate Action Plan ,
Climate Change ,
Environmental Protection Agency (EPA) ,
Environmental Social & Governance (ESG) ,
EU ,
Green Energy ,
Greenwashing ,
Net Zero ,
Regulatory Agenda ,
Reporting Requirements
The Background: The Australian Treasury has released its second quarterly report of the 2023–24 financial year covering the regulation of foreign investment in Australia during the quarter ended 31 December 2023....more
The Development: After an interruption during the COVID-19 pandemic, authorities across the Asia-Pacific region have fully revived dawn raids....more
6/7/2024
/ Anti-Bribery ,
Antitrust Violations ,
Asia Pacific ,
China ,
Corporate Counsel ,
Corruption ,
Criminal Investigations ,
Dawn Raids ,
Enforcement Actions ,
Enforcement Authority ,
Financial Markets ,
Global Disputes ,
Investigations ,
Penalties ,
Popular ,
White Collar Crimes
The Situation: The Australian government has restated its commitment to foreign investment and announced procedural reforms to Australia's foreign investment framework. The government aims to attract the significant foreign...more
The Background: The Australian Federal Treasurer recently announced sweeping reforms to Australia's merger review regime. These reforms will overhaul the current merger review regime in Australia to introduce mandatory filing...more
On 27 March 2024, Australia's climate disclosure regime moved a significant step closer to implementation, with the federal government's introduction of proposed legislation into Parliament. Any organisations with a presence...more
4/17/2024
/ ASIC ,
Audits ,
Australia ,
Climate Change ,
Environmental Policies ,
Environmental Social & Governance (ESG) ,
Financial Reporting ,
Greenhouse Gas Emissions ,
Popular ,
Proposed Legislation ,
Regulatory Agenda ,
Sustainability
In recent years, the world has witnessed heightened sensitivity surrounding foreign investments, leading to increased regulatory scrutiny of foreign direct investments ("FDI") on the basis of national security concerns. The...more
Australia continues to be a highly active jurisdiction for climate-related lawsuits. Since our last update in August 2023, we have seen a steady stream of suits commenced against corporations and government bodies in relation...more
3/18/2024
/ ASIC ,
Australia ,
Climate Action Plan ,
Climate Change ,
Environmental Claims ,
Environmental Policies ,
Environmental Social & Governance (ESG) ,
Environmental Violations ,
Greenhouse Gas Emissions ,
Greenwashing ,
Net Zero ,
Popular ,
Renewable Energy
The Australian Treasury has released its first quarterly report ("Report") for the 2023-24 financial year covering the regulation of foreign investment in Australia....more
The impact of ESG (environmental, social & governance) laws, regulations, and obligations has increased in recent times at an almost incomprehensible rate. This is particularly true in the Asia-Pacific (“APAC”) region. Within...more
2/13/2024
/ Civil Penalty Fund ,
Climate Change ,
Corporate Social Responsibility ,
Critical Infrastructure Sectors ,
Environmental Social & Governance (ESG) ,
EU ,
Financial Services Industry ,
Green Energy ,
Greenwashing ,
Natural Resources ,
Regulatory Requirements ,
Shareholders ,
Solar Energy
The Situation: The Australian government has released its widely anticipated exposure draft legislation for the introduction of Australia's national mandatory climate-related financial disclosures regime....more
Australia continues to be a highly active jurisdiction for climate-related lawsuits. The last few years have seen multiple suits commenced against corporations and governments in relation to climate issues, with more filings...more
For more than a decade, environmental groups have accused airlines of "greenwashing" or misrepresenting the sustainability of their business operations. Now these claims are gaining traction around the globe. These groups...more
In Short -
The Situation: In 2018, the Australian federal government obligated Australian corporates to engage with modern slavery risks in their supply chain by enacting the Modern Slavery Act 2018 (Cth) ("the Act")....more
In Short -
The Situation: From July 1, 2023, foreign investors in Australia will be subject to new registration requirements under Australia's foreign investment regime....more
Australia has significantly increased penalties for competition and consumer law breaches and also expanded the scope of the law that prohibits unfair contract terms ("UCT")....more
This Jones Day Global Merger Control Update highlights significant recent developments and changes in merger control regimes. In this Update, we review: (i) key changes to merger regimes in Austria, Belgium, Bulgaria,...more
The Australian Competition and Consumer Commission ("ACCC") also cautions government agencies to be alert to potential bid rigging in the procurement process for public tenders. ...more
The Background -
Despite plentiful natural resources and a healthy domestic demand for energy, Australia's offshore renewable energy sector has lagged behind comparable jurisdictions. While the offshore wind sector is...more
NSW Court of Criminal Appeal rules that any admissions made in civil proceedings can be used in future criminal proceedings.
In Turnbull v Office of Environment and Heritage [2021] NSWCCA 190, the NSW Court of Criminal...more