On 23 September 2024, the Singapore Exchange Regulation (SGX RegCo) announced that it will begin incorporating the IFRS Sustainability Disclosure Standards (IFRS Standards) issued by the International Sustainability Standards...more
10/8/2024
/ Climate Change ,
Corporate Governance ,
Corporate Issuers ,
Environmental Social & Governance (ESG) ,
Greenhouse Gas Emissions ,
IFRS ,
Policies and Procedures ,
Publicly-Traded Companies ,
Reporting Requirements ,
Singapore ,
Sustainability ,
Sustainable Business Practices
South Korea’s Constitutional Court has issued a “first of its kind” decision in Asia, requiring South Korea to update its greenhouse gas reduction targets.
On 29 August 2024, South Korea’s Constitutional Court (the Court)...more
9/24/2024
/ Climate Change ,
Compliance Dates ,
Constitutional Courts ,
Corporate Counsel ,
European Court of Human Rights ,
Greenhouse Gas Emissions ,
Human Rights ,
Japan ,
Member State ,
Presidential Decrees ,
South Korea ,
Taiwan
In the December 2023 edition of Regulatory Updates in Asia ESG we provided an update on how jurisdictions across Asia are responding to the International Sustainability Standards Board (ISSB) standards. Several regulators in...more
9/3/2024
/ Asia ,
Climate Change ,
Consultation ,
COP ,
Corporate Governance ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
Greenhouse Gas Emissions ,
Hong Kong ,
IFRS ,
International Regulatory Standards ,
IOSCO ,
Regulatory Standards ,
Sustainability ,
Sustainable Business Practices
Finch v. Surrey calls for assessment of all likely direct and indirect environmental effects in EIAs, including certain Scope 3 emissions if a reasonable estimate is feasible.
On 20 June 2024, the UK Supreme Court (the...more
7/3/2024
/ Climate Change ,
Energy Projects ,
Energy Sector ,
Environmental Assessments ,
Environmental Impact Statements ,
Environmental Litigation ,
Fossil Fuel ,
Greenhouse Gas Emissions ,
Oil & Gas ,
UK ,
UK Supreme Court
The Tribunal confirmed that States party to UNCLOS must take measures to prevent marine pollution caused by climate change, on top of their obligations under the Paris Agreement.
On 9 April 2024, the International...more
5/30/2024
/ Advisory Opinions ,
Climate Change ,
EU ,
European Court of Human Rights ,
Greenhouse Gas Emissions ,
International Court of Justice (ICJ) ,
Mandatory Requirements ,
Maritime Transport ,
Paris Agreement ,
Tribunals ,
United Nations ,
United Nations Convention on the Law of the Sea (UNCLOS)
The Eighth Circuit is poised to determine the fate of the SEC’s final climate regulation, potentially by the end of the year.
On March 21, 2024, the US Court of Appeals for the Eighth Circuit was selected as the court that...more
4/9/2024
/ Administrative Procedure Act ,
Case Consolidation ,
Chevron Deference ,
Climate Change ,
Corporate Governance ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
EU ,
Final Rules ,
Greenhouse Gas Emissions ,
Rules of Civil Procedure ,
Securities and Exchange Commission (SEC) ,
Statutory Interpretation ,
Sustainable Business Practices
The long-awaited rules, already at the center of political debate and litigation, represent another global regulatory effort to integrate climate considerations into financial reporting.
On March 6, 2024, nearly two years...more
On March 6, 2024, in a 3-2 vote, the US Securities and Exchange Commission (SEC) adopted final rules requiring registrants to disclose certain climate-related information in registration statements and annual reports. ...more
3/7/2024
/ Annual Reports ,
Climate Change ,
Compliance ,
Compliance Dates ,
Corporate Governance ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
Final Rules ,
Greenhouse Gas Emissions ,
Publicly-Traded Companies ,
Registration Statement ,
Regulation S-K ,
Regulation S-X ,
Risk Management ,
Securities and Exchange Commission (SEC) ,
Task Force on Climate-related Financial Disclosures (TCFD)
On 6 February 2024, the European Commission (Commission) presented its recommendations for the EU’s 2040 climate target, following a detailed impact assessment on potential emission reduction pathways. This publication aligns...more
The first global stocktake, Article 6, carbon markets, new finance pledges, and the loss and damage fund formed the major developments at this year’s conference.
Between November 30 and December 12, 2023, Dubai hosted the...more
12/28/2023
/ Climate Change ,
COP ,
Dubai ,
Energy Market ,
Energy Sector ,
Environmental Policies ,
Greenhouse Gas Emissions ,
Oil & Gas ,
Paris Agreement ,
Renewable Energy ,
UNFCCC ,
United Nations
Goods imported into the UK from countries with a lower or no carbon price will face a levy by 2027.
On 18 December 2023, the UK government announced a proposal for a new carbon border adjustment mechanism (UK CBAM)....more
The Taxonomy aims to define green and transition economic activities to identify and allocate capital to sustainable projects and initiatives.
On 3 December 2023, the Monetary Authority of Singapore (MAS) unveiled the...more
The Supervisory Body published the Methodology Guidance and the Removal Guidance to be presented for discussion in COP28.
After two years of discussion, the Supervisory Body (SB) responsible for determining the...more
The Act demonstrates the UK’s renewed commitment to reaching net zero and paves the way for players in key industries to achieve their targets.
On 26 October 2023, the UK Energy Act 2023 (the Act) received Royal Assent....more
11/1/2023
/ Carbon Capture and Sequestration ,
Climate Change ,
Energy Storage ,
Greenhouse Gas Emissions ,
Hydrogen Power ,
National Energy Act ,
Net Zero ,
New Legislation ,
Nuclear Power ,
Public Projects ,
Renewable Energy ,
Tender Offers ,
UK ,
UK Competition and Markets Authority (CMA)
The framework claims to set the “gold standard” for companies to contribute to the net zero transition while emphasising ambition, action, and accountability.
The UK Transition Plan Taskforce (TPT) launched its...more
10/12/2023
/ Climate Action Plan ,
Climate Change ,
Consultation ,
COP ,
Federal Agency Taskforce ,
Financial Conduct Authority (FCA) ,
Framework Agreement ,
Greenhouse Gas Emissions ,
Regional Greenhouse Initiative ,
Strategic Planning ,
Sustainability ,
Sustainable Business Practices ,
Task Force on Climate-related Financial Disclosures (TCFD) ,
UK
Governor Newsom has committed to signing into law two bills that would require certain companies that do business in California to disclose their GHG emissions and climate-related financial risks.
In January 2023,...more
Data collected under the PROVE IT Act would measure the carbon emissions of certain goods in the US and other nations.
On June 7, 2023, US Senators Chris Coons and Kevin Cramer introduced the bipartisan Providing...more
The latest proposals show the direction of travel in the increasingly expanding web of consumer protection regulation on sustainable products and initiatives.
Background -
The European Green Deal, presented by the...more
The guidance, published by a key entity behind the Greenhouse Gas Protocol, provides information on reporting of avoided emissions, and eligibility criteria for companies.
On 22 March 2023, the World Business Council for...more
The UK government has unveiled a number of measures with the overall purpose of reaching net zero by 2050 and meeting the UK’s climate targets.
On 30 March 2023, on what has been called the UK’s “green day”, the UK...more
3/31/2023
/ Carbon Capture and Sequestration ,
Climate Change ,
Energy Sector ,
Environmental Policies ,
Federal Funding ,
Green Finance ,
Green Initiatives ,
Greenhouse Gas Emissions ,
Hydrogen Power ,
Net Zero ,
Nuclear Power ,
Public Policy ,
Renewable Energy ,
UK
As part of the European Green Deal ambitions, the proposal encourages sustainable consumption through additional incentives to repair products to reduce waste and emissions.
On 22 March 2023, the European Commission...more
3/30/2023
/ Climate Change ,
Corporate Counsel ,
Environmental Policies ,
EU ,
EU Directive ,
European Commission ,
Greenhouse Gas Emissions ,
Incentives ,
Net Zero ,
Repairs ,
Right to Repair ,
Supply Chain ,
Sustainability ,
Waste Management
The Plan aims to “simplify, accelerate and align incentives to preserve the competitiveness and attractiveness of the EU as an investment location for the net-zero industry”.
On 1 February 2023, the European Commission...more
2/10/2023
/ Climate Change ,
Electricity ,
Energy Sector ,
Environmental Policies ,
EU ,
European Commission ,
Greenhouse Gas Emissions ,
Industrial Space ,
Manufacturers ,
Net Zero ,
Regulatory Standards ,
Supply Chain
Latham lawyers highlight key takeaways and developments in the sustainability space from the second half of the year.
...more
12/22/2022
/ Antitrust Provisions ,
Climate Change ,
Consultation ,
Corporate Governance ,
Corporate Social Responsibility ,
Environmental Policies ,
Environmental Social & Governance (ESG) ,
EU ,
European Commission ,
European Securities and Markets Authority (ESMA) ,
Forced Labor ,
Greenhouse Gas Emissions ,
Investment Funds ,
Sustainability
Establishment of the loss and damage fund and development in Article 6 of the Paris Agreement were among the major developments in this year’s conference.
On November 20, 2022, the 27th annual Conference of Parties...more
12/9/2022
/ Africa ,
Asia ,
Carbon Emissions ,
Climate Change ,
COP ,
Environmental Policies ,
Forestry ,
Funding ,
Greenhouse Gas Emissions ,
John Kerry ,
Paris Agreement ,
Saudi Arabia ,
Sustainability ,
UNFCCC ,
United Nations
Extensive negotiations focused on finalizing the details of a “rulebook” for an international carbon market under Article 6 of the Paris Agreement.
The 27th annual Conference of Parties (COP27) of the United Nations...more
11/17/2022
/ Biden Administration ,
Carbon Emissions ,
Climate Change ,
COP ,
Energy Sector ,
Environmental Policies ,
Greenhouse Gas Emissions ,
John Kerry ,
Methane ,
Paris Agreement ,
Renewable Energy ,
UNFCCC ,
United Nations