Against the backdrop of the comprehensive recast of European Union ("EU") banking legislation, the EU legislator is increasingly focused on Environmental, Social, and Governance ("ESG") risks. In this context, ad hoc...more
The EU’s Corporate Sustainability Reporting Directive (“CSRD”) requires the most detailed and onerous ESG reporting and disclosures anywhere in the world. All told, it is estimated that more than 50,000 companies, including...more
9/21/2023
/ Air Pollution ,
Biodiversity ,
Climate Change ,
Disclosure Requirements ,
Due Diligence ,
Environmental Social & Governance (ESG) ,
EU ,
European Commission ,
Parent Corporation ,
Proposed Regulation ,
Proposed Rules ,
Sustainability ,
Water
The regional court of Braunschweig, as competent court for the headquarters of Volkswagen AG ("VW"), rendered a decision that is a significant setback for climate litigation activists in Germany by fully dismissing a...more
3/1/2023
/ Automotive Industry ,
Carbon Emissions ,
Climate Action Plan ,
Climate Change ,
Environmental Policies ,
Environmental Social & Governance (ESG) ,
German Supreme Court ,
Germany ,
Greenpeace ,
Motor Vehicles ,
Volkswagen
In Short -
The Situation: Certain large companies incorporated in the European Union ("EU") are already required to disclose nonfinancial information under the current EU regulatory framework. Two upcoming EU...more
A JONES DAY TALKS® Encore Presentation.
From May 2021.
The European Central Bank's decision to establish a Climate Change Center and invest in a green bond fund launched by the Bank for International Settlements reflects the...more
On 4 November 2021, the Federal Court of Australia made orders by consent which require the Commonwealth Bank of Australia ("CBA") to permit the plaintiff shareholders to inspect and make copies of books and records that...more
After June 30, 2021, large asset managers will no longer have the option to "explain" noncompliance with Article 4 of EU Regulation (EU) 2019/2088 on sustainability‐related disclosures in the financial services sector...more
More than a year ago the world fell victim to a global pandemic that would change life in ways that could never have been predicted. In the early stages of the pandemic, we published a White Paper directed at financial...more
The European Central Bank's decision to establish a Climate Change Center and invest in a green bond fund launched by the Bank for International Settlements reflects the growing importance of climate change, and ESG more...more
German financial institutions may need to consider a risk framework for monitoring their customers' compliance with social and environmental standards.
The German Federal Government recently proposed a draft act on...more
The Situation: The New York State Department of Financial Services ("DFS") and the European Banking Authority ("EBA") have published guidance relating to Environmental, Social, and Corporate Governance ("ESG")...more
The Situation: Three major pillars of the EU action plan on sustainable finance ("EU Action Plan") at varying stages of development have taken steps forward.
The Result: We now have a regulation on climate-related benchmarks...more
12/27/2019
/ Benchmarks ,
Capital Requirements Regulation (CRR) ,
Environmental Social & Governance (ESG) ,
EU ,
EU Action Plans ,
EU Benchmark Regulation ,
European Commission ,
Final Rules ,
Financial Regulatory Reform ,
Paris Agreement ,
Popular ,
Sustainable Finance ,
Taxonomy
The Situation: The European Banking Authority ("EBA") issued its Action Plan on Sustainable Finance ("Action Plan") on December 6, 2019, setting forth an outline for its deliverables and activities related to environmental,...more