By David Malter, CIH, CSP, CPEA, ROH (Guest Author), Adam R. Young, Mark A. Lies, and Craig B. Simonsen
Seyfarth Synopsis: In a new journal article from the Centers for Disease Control and Prevention’s (CDC), National Institute for Occupational Safety and Health (NIOSH), and the Bacterial Special Pathogens Branch, researchers have identified
Investors are increasingly focussed on how companies address modern slavery and wider human rights issues when making investment decisions. Despite this, many UK companies are failing to adequately report on, and take sufficient steps to eradicate, modern slavery within their businesses and supply chains, according to the Financial Reporting Council’s (the “FRC“) recently published Modern Slavery Reporting Practices in the UK Report (the “Report”).
The Report, which analysed the reporting practices of 100 companies listed on the London Stock Exchange’s Main Market, highlighted that the majority of companies are failing to disclose sufficient information to enable stakeholders to make informed decisions about companies’ compliance with modern slavery legislation. Such shortcomings in the quality of companies’ modern slavery reporting presents a number of compliance, reputational and financial risks to companies.
by John Habib
The United Nations Human Rights Council passed Resolution 48/13 in October 2021. The Resolution recognizes as a human right a person’s access to a clean, healthy, and sustainable environment. Non-governmental organizations are now pushing the United Nations General Assembly to formally adopt Resolution 48/13.
The United States did not take part in
Boron can be found in electric vehicles, vital military hardware, wind turbines, solar panels, satellites, and more. The mineral – already listed as a national strategic mineral – is important for the United States’ economy, climate strategy, and national security. However, the U.S. Geological Survey has yet to include boron on the list of “critical minerals,” which the Energy Act of 2020 defines as a non-fuel mineral or mineral material essential to the economic or national security of the U.S. and which has a supply chain vulnerable to disruption. The lack of critical mineral designation could hamper the domestic production of boron, but that may be changing soon as discussed below.
California’s Mojave Desert is believed to have the world’s largest known new boron deposit. A mine in the region, known as Fort Cady, has an estimated mineral resource of 120 plus million tons of the type of borate, colemanite, which accounts for 90% of the mineral used globally. Fort Cady also has a large source of lithium (see our earlier post on lithium’s potential), which is an important element for batteries and electric vehicles. Fort Cady further benefits from proximity to an interstate highway, railroad, deep-water port, high voltage power line, gas line, and approved water infrastructure.
An industry leader in boron sourcing and processing is set to begin mining at Fort Cady soon, with small scale mining operations set to begin by the end of this year and large scale production by 2025. However, mining boron deposits is very costly and time consuming. Listing boron on the list of critical minerals would help alleviate such issues by giving stakeholders access to extensive government funding, incentives, and partnerships.
The European Commission recently published a series of documents in the context of the Green Deal initiative. One of these is a proposal for a directive on consumer empowerment. With this proposal, the Commission seeks to deliver on its promise to ensure consumers have access to reliable, comparable and verifiable information on products to allow
The California Office of Environmental Health Hazard Assessment (OEHHA), which manages the state’s Proposition 65 program, is reviewing comments on its latest attempt to limit use of the popular “short form” warning option. The latest proposal, released on April 5, pulls back on several key changes from prior proposals, first issued in January 2021 with
HM Treasury’s Transition Plan Taskforce aims to influence international standard setting and make the UK the world’s first net zero-aligned financial centre.
By Paul A. Davies, Michael D. Green, Nicola Higgs, Anne Mainwaring, James Bee, and Dianne Bell
On 25 April 2022, HM Treasury (HMT) announced the launch of the UK Transition Plan Taskforce (TPT) to help drive decarbonisation by ensuring that financial institutions and companies prepare plans to achieve net zero, as well as to support efforts to tackle greenwashing. This move is an important step connected with the UK’s development of the new Sustainability Disclosure Requirements (SDR) regime that Chancellor Rishi Sunak announced at his Mansion House speech in July 2021. HMT’s stated aim is to develop “a gold standard for climate transition plans” and for the UK to become the world’s first net zero-aligned financial centre.
An increasing number of companies are making public commitments to decarbonise their operations and reach net zero emissions, but transition plans announced so far are, according to the TPT, “varied in detail and quality”,[i] thereby limiting the ability of stakeholders to assess the credibility of such transition plans. Proposed rules announced by the Chancellor at COP26 would require large companies and certain financial sector firms to publish a transition plan from 2023. The TPT will, over the next two years, develop: (i) a sector-neutral framework for private sector transition plans; (ii) a sector-specific guidance for finance and other sectors; and (iii) recommendations regarding the preparation and use of transition plans. The TPT’s expectations are for such transition plans to be science-based and to help inform the UK’s SDR. (See Latham’s recent briefing for an outline of the SDR regime.)
On April 19, 2022, the Biden administration finalized a new rule (“Final Rule”) rolling back the Trump administration’s 2020 changes limiting the scope of the National Environmental Policy Act (NEPA). The Final Rule re-establishes the prior broader scope of NEPA review, restores key provisions of NEPA that existed prior to 2020, and requires
Please join Greenberg Traurig and Pérez Bustamante & Ponce (PBP) on May 11 from 9:00 – 10:00 a.m. (GMT-5) for an overview of the investment opportunities for companies and individuals in Ecuador. GT Shareholder Oscar Stephens will moderate an interactive panel discussion on:
On April 20, 2022, the cybersecurity authorities of the United States, Australia, Canada, New Zealand, and the United Kingdom—the so-called “Five Eye” governments—announced the publication of Alert AA22-110A, a Joint Cybersecurity Advisory (the “Advisory”) warning critical infrastructure organizations throughout the world that the Russian invasion of Ukraine could expose them “to increased malicious cyber activity from Russian state-sponsored cyber actors or Russian-aligned cybercrime groups.” The Advisory is intended to update a January 2022 Joint Cybersecurity Advisory, which provided an overview of Russian state-sponsored cyber operations and tactics, techniques, and procedures (“TTPs”).
In its announcement, the authorities urged critical infrastructure network defenders in particular “to prepare for and mitigate potential cyber threats by hardening their cyber defenses” as recommended in the Advisory.