Mining companies are closely linked to the energy transition, both as businesses for which new requirements apply and as suppliers of critical minerals used to produce electric vehicles batteries, solar panels and wind turbines, among other products. In this Legal Update, we discuss emerging climate change-related guidelines and requirements, give examples of how mining companies
Hong Kong’s Financial Secretary, Paul Chan, delivered the 2023-24 budget on 22 February 2023 with the promotion of a green economy, sustainable development and China’s “3060 Dual Carbon Targets” at the forefront.
He laid out his vision to establish Hong Kong as a leading global green technology and financing hub.
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The age-old debate over the purpose of for-profit corporations has reignited, with two rival theories on offer: shareholder primacy and stakeholder parity. The first posits that the primary purpose of corporations is to maximize shareholder value, while the second urges the equal interests of all other constituents, especially employees, customers, and communities.
While the debate
On 28 February 2023, the Judicial Court of Paris (the “Court”) issued an interim order (the “Order”) in the context of a judicial dispute concerning compliance with the French Law n°2017-399 of 27 March on the Duty of Vigilance (the “French Vigilance Law”). This decision is the result of a lengthy judicial process that started
In the Hong Kong government’s 2023-2024 budget, the Financial Secretary, the Hon Paul MP Chan, unveiled various measures to bolster Hong Kong’s economy following the Covid-19 epidemic, with a strong focus on promoting green and sustainable finance and technology and advancing the virtual assets sector (also reported here).
The following initiatives were announced,
On 28 February 2023, the Council of the European Union and the European Parliament reached a provisional agreement on the creation of the European Green Bond Standard (“EU GBS”).
In what marks its latest move to tackle modern slavery, on 10 February 2023, the UK Government published its new guide for commercial and procurement professionals, entitled “Tackling Modern Slavery in Government Supply Chains” (the “Guidance”). The Guidance is aimed at helping procurement and commercial practitioners at all levels who are operating in
The Pensions Regulator has launched a campaign to ensure that trustees are meeting their ESG and climate change reporting obligations.
Trustees of occupational pension schemes with 100+ members are required to prepare:
Both the financial sector and the real economy are faced with increased regulatory requirements and expectations of various stakeholders to meet ESG criteria, which are a benchmark for sustainability and sustainable investments. A high ESG rating not only promotes corporate policy, but also serves the profit interest of investors.
Currently, in the EU only capital
A recent attention-grabbing report by the Guardian, Die Zeit and SourceMaterial claimed that “more than 90% of rainforest carbon offsets by biggest certifier are worthless”. This prompted a swift detailed rebuttal by Verra – the world’s largest certifier of offsets and the organization subject to the criticism – who argued that the Guardian’s reporting contained