In recent years, we have seen more class action securities claims against UK listed companies — akin to US style “stock-drop” litigation. These claims are typically brought by groups of investors, backed by financing...more
Target Audience - Compliance Professionals with detailed knowledge in an area. Such persons are often at a mid-level within the organization, with operational or supervisory responsibilities, or both....more
Despite the sense of relief that many companies initially felt with the SEC’s stay of its climate disclosure rules, the pause is unlikely to temper the forces demanding climate disclosures by other means. In the latest paper...more
On October 7, 2023, Governor Gavin Newsom signed into law a trio of climate-related bills that will impact what companies doing business in California must (or can) say about their greenhouse gas (GHG) emissions and the...more
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
On October 7, 2023, Governor Gavin Newsom signed Senate Bill 253 into law, which imposes climate-related disclosure requirements for companies with revenues over $1 billion annually that do business in California. On the same...more
Welcome to the Corporate Briefing, where we review the latest developments in UK corporate law that you need to know about. In this month’s issue, we discuss...more
California Governor Gavin Newsom recently signed into law two core bills of the state's “Climate Accountability Package, Senate Bill 253 (SB 253) and Senate Bill 261 (SB 261). As they currently stand, these laws impose...more
In the October edition of our Public Company Watch, we cover key issues impacting public companies, including the SEC adopting rules modernizing beneficial ownership reporting and short sale reporting, and issuing new C&DIs...more
On October 7, 2023, California Governor Gavin Newsom signed into law two expansive climate disclosure bills (SB 253 and SB 261), making California the first state in the U.S. to impose requirements on greenhouse gas (“GHG”)...more
Welcome to Vinson & Elkins’ Securities and ESG Updates. Our aim is to provide insights into notable developments in securities reporting and the environmental, social and governance space over the quarter and, where...more
This February post noted the introduction of SB 261 which aimed at imposing climate-related financial risk reporting. In the ensuing months, the bill was amended seven times and garnered numerous supporters and opponents. ...more
As public companies anticipate the Securities and Exchange Commission’s (“SEC”) final climate disclosure rules, which are expected to be released sometime fourth quarter of 2023, California has beaten the federal government...more
The NY Climate Week conference took place during the week of 18 September 2023, bringing together international leaders from business and governments. During the conference the Taskforce on Nature-related Financial...more
In this second article in the series, we look at TCFD-aligned reporting and the TCFD recommendations: who they apply to, why they are needed and what is required by them....more
This edition covers new global sustainability reporting standards, proposals to reform corporate criminal liability laws, the enactment of FSMA 2023, FRC guidance on dividend reporting, Investment Association guidance on...more
In line with the UK’s Net Zero Strategy, the UK became the first G20 country to adopt the recommendations of the Taskforce on Climate-related Financial Disclosures (TCFD), with effective dates rolling out for different...more
On November 28, 2022, the Council of the European Union (“EU”) approved the Corporate Sustainability Reporting Directive (“CSRD”), following adoption of the CSRD by the EU Parliament on November 10, 2022 — a major move toward...more
More than 50% of global economic output depends in some way on biodiversity. Frameworks are emerging to measure the impact of business on nature, but the science needs work if they are to succeed....more
On March 21, 2022, the U.S. Securities and Exchange Commission (SEC) issued a Notice of Proposed Rulemaking on the “Enhancement and Standardization of Climate-Related Disclosure for Investors” (Proposed Rule). Per the SEC’s...more
Like two kids that show up to school wearing the same outfit, the SEC and the NAIC both proposed significant new climate reporting requirements on March 21, 2022. The SEC’s new rule would, if adopted, require most public...more
On March 21, 2022, the US Securities and Exchange Commission (the "SEC") proposed rules governing the "Enhancement and Standardization of Climate-Related Disclosures for Investors." ...more
Last week, the Securities and Exchange Commission (SEC) released its much-anticipated and ground-breaking proposed rule for the disclosure of climate-related risks. “The Enhancement and Standardization of Climate-Related...more
The UK Department for Business, Energy and Industrial Strategy (BEIS) announced on 28 October 2021 that new climate-related disclosure requirements had been laid before the Houses of Parliament. The proposals, contained in...more
While the global powers are occupied at the COP26 climate summit with negotiating and pledging (or, is it more “blah, blah, blah,” as teenage activist Greta Thunberg contends in some, uh, straight talk?), and we await the...more