Climate-related litigation is increasingly being used as a tool to hold private and public sector actors to account over their contributions to climate change. According to the Grantham Institute’s 2023 Global Trends in Climate Change Litigation Policy Report (the “Report”) – which was published on 29 June 2023 – around two-thirds of climate-related cases have
Businesses, especially micro, small and medium-sized enterprises (MSMEs), continue to face practical challenges in ESG reporting due to costs, the lack of resources and expertise on sustainability reporting, and the complexities around multiple standards and reporting frameworks in use globally.
On 22 June 2023, the Monetary Authority of Singapore (MAS), United Nations Development Programme (UNDP)
On 26 June 2023, the International Sustainability Standards Board (“ISSB”) issued its long-awaited inaugural global sustainability disclosure standards: IFRS S1 (General Requirements for Disclosure of Sustainability-related Financial Information) and IFRS S2 (Climate-related Disclosures) (together, the “Standards”). The ISSB also released a related Sustainability Standards Navigator tool and a three-minute video. The ISSB’s aim is for
A new requirement for most developments to achieve a minimum level of “biodiversity net gain” will come into force in November this year. For some this will be an additional burden when preparing planning applications, but others will see it as an opportunity to create value through enhancing biodiversity whilst burnishing their “green” credentials.
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On June 22, 2023, the International Capital Markets Association (ICMA) issued its first update of its Climate Transition Finance Handbook (CTFH) since its original publication in December 20201 and an updated version of its Sustainability-Linked Bond Principles (SLBPs).
In its related press release, ICMA states that the updated CTFH:
[I]ntegrates the progress made by
On June 14, 2023, the European Commission proposed negotiating directives for a critical minerals agreement with the United States, intending to promote a partnership between the US and the European Union as allies in the global race to net zero and to strengthen their respective critical mineral supply chains. Back in early March, US President
On 8 June 2023, during their Ministerial Council Meeting in Paris, the Organisation for Economic Co-operation and Development (“OECD”) launched an updated version of its Guidelines for Multinational Enterprises (the “Guidelines”). This is the first update to the Guidelines since 2011 and the changes represent substantial and far reaching new expectations for multinationals, particularly in
On 31 May 2023, the European Parliament and the Council of the European Union adopted Regulation (EU) 2023/1115 regarding the marketing and export of certain commodities and products associated with deforestation and forest degradation from the European Union. In this Legal Update, we delve into the regulation and highlight what operators and traders should know
On June 5th 2023, World Environmental Day, the Brazilian Government published five decrees seeking to strengthen national efforts towards the decarbonization of the economy and tackling climate change:
On 7 June 2023, the UK Advertising Standards Authority (“ASA”) – the UK’s independent advertising regulator – banned a series of advertisements from a number of large oil and gas companies for including misleading information about their socio-environmental credentials. These landmark rulings, which mark the latest step in the ASA’s fight against greenwashing, are expected