Katten ESG Guidepost is a monthly publication highlighting the latest news, legal and regulatory developments involving environmental, social and governance matters.
To read more issues of Katten ESG Guidepost, please click here.
Sarah Bates: From Manchester's Oxford Road to UK's Pension Powerhouse - A Journey of Success and Diversity
Hosted by Neil Robson
From her humble beginnings in Manchester's Oxford Road, Sarah Bates has carved out an impressive career in the UK's financial sector. In the latest episode of (mis)Conduct, Money & Reputation, we take a closer look at her journey, her contributions to diversity, equity and inclusion (DEI), and her perspective on the current state of asset management. Sarah co-founded The Diversity Project, an initiative to improve DEI in the UK's savings and investment sector. Katten Financial Markets and Funds Partner Neil Robson and David Masters of reputation specialists Lansons/Team Farner spoke with Sarah about those challenges, the state of current regulation and how asset managers can improve their reputation with clients. Read about this (mis)Conduct, Money & Reputation podcast episode.
New York Attorney General Sues JBS for Alleged Greenwashing
By Chris Cole
On February 28, the New York Attorney General (NYAG) sued JBS USA Food Company and JBC USA Food Company Holdings (collectively, JBS), pursuant to New York state consumer protection laws, for alleged greenwashing regarding the company's commitment to reduce carbon emissions. The lawsuit represents the latest shoe to drop from what appears to have been a sustained, activist-driven attack against JBS's green advertising claims, particularly its previously announced "Net Zero" commitment. Read about the key takeaways from the NYAG's suit.
SEC Finalizes Much-Anticipated Climate Disclosure Rules
By Farzad F. Damania, Chris Cole, Ryan A. Lilley
On March 6, the Securities and Exchange Commission (SEC) voted three to two to pass the much-anticipated final rules regarding the enhancement and standardization of climate-related disclosures for investors (Final Rules). The Final Rules will impose significant new requirements on public companies to disclose climate-related data in their registration statements and periodic reports, including their direct greenhouse gas emissions, information regarding climate-related risks and impacts on their businesses, operations or financial conditions, and other climate-related metrics.
The Final Rules cover both domestic public companies and foreign private issuers other than registered investment companies, asset-backed issuers and Multijurisdictional Disclosure System (MJDS) filers (which allows certain Canadian issuers to register their securities with the SEC). The Final Rules do not exempt business development companies, REITs or issuers of registered non-variable insurance contracts. Read Katten's advisory.
Charlotte Sallabank Quoted by Multiple Publications on the Upcoming UK Spring Budget 2024
Tax Partner Charlotte Sallabank was quoted in two separate articles about the upcoming UK Spring Budget announcement and the anticipation surrounding its potential measures related to housing, taxation and more. Charlotte expects the budget to serve as a critical platform for the Conservative government to introduce measures to bolster support before the next election. She expects the potential for environmental taxes and incentives to help tackle climate change or for new measures targeting cryptoassets and the digital economy to be a factor. Read about Charlotte's comments.
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