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)
As ESG statements fall under increasing scrutiny, sponsors should aim for consistent and accurate messaging, as well as robust ESG strategies.
Regulatory drivers and stakeholder demands have put environmental, social,...more
The amendments aim to modernize the Names Rule and promote investor protection objectives by ensuring that a fund’s portfolio of holdings aligns with its name.
The US Securities and Exchange Commission (the SEC or the...more
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
Developments span the climate disclosure landscape, risk factor disclosure, and diversity-related efforts.
In advance of the annual shareholder proposal and annual reporting preparation season, we believe that a number of...more
The EU regulators are reviewing the Sustainable Finance Disclosure Regulation introduced in 2021, exploring the need for potential additional adjustments.
On 14 September 2023, the European Commission initiated a...more
9/27/2023
/ Climate Change ,
Consultation ,
Disclosure Requirements ,
EU ,
European Commission ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Green Finance ,
Investment Products ,
SFDR ,
Sustainable Finance ,
UK
The draft New Measure aims to enhance the environmental integrity of China’s carbon market by introducing new requirements for project registration and credit issuance.
China is preparing to relaunch its carbon credits...more
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
On September 18, 2023, the Taskforce on Nature-related Financial Disclosures (TNFD) published recommendations for organizations’ assessment, management, and disclosure of nature-related issues (the Recommendations). These...more
The ACCC sets out best marketing practices and companies’ obligations under the Australian Consumer Law, including strict penalties that may follow.
In July 2023, the Australian Competition and Consumer Commission (ACCC)...more
9/21/2023
/ Advertising ,
ASIC ,
Australia ,
Australian Competition and Consumer Commission (ACCC) ,
Australian Consumer Law ,
Draft Guidance ,
Enforcement Actions ,
Enforcement Priorities ,
Greenwashing ,
Marketing ,
Public Consultations
The Green Technical Advisory Group, which is guiding the UK government’s implementation of a UK Green Taxonomy, has issued detailed advice for the upcoming legislation.
In September 2023, the Green Technical Advisory Group...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
As ESG regulation in Asia develops at an increasing pace, Latham lawyers give an update on noteworthy developments across the region....more
8/28/2023
/ Asia ,
China ,
Climate Change ,
Consultation ,
Corporate Governance ,
Environmental Social & Governance (ESG) ,
Hong Kong ,
Japan ,
Monetary Authority of Singapore ,
Popular ,
Regulatory Requirements ,
Singapore ,
South Korea
Importers into the EU of CBAM goods should be aware of their transitional reporting obligations under the new rules.
On 17 August 2023, the European Commission (Commission) adopted rules governing the implementation of...more
The UK standards will aim to increase the comparability and value of reported information for investors.
The UK government announced on 2 August 2023 that it will develop standards for company sustainability disclosures...more
8/4/2023
/ Advisory Committee ,
Climate Change ,
Corporate Governance ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
Financial Conduct Authority (FCA) ,
IFRS ,
Investors ,
Publicly-Traded Companies ,
Sustainability ,
Sustainable Business Practices ,
Task Force on Climate-related Financial Disclosures (TCFD) ,
UK
The adoption of the standards marks a key milestone for reporting under the CSRD.
On 31 July 2023, the European Commission (Commission) adopted the European Sustainability Reporting Standards (ESRS), following a four...more
The European Union’s Corporate Sustainability Reporting Directive (CSRD), which entered into force in January 2023, marks a new era for ESG reporting across Europe (and globally). CSRD is the latest in a wave of new rules...more
7/26/2023
/ Climate Change ,
Corporate Governance ,
Corporate Social Responsibility ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
EU ,
EU Directive ,
Member State ,
Portfolio Companies ,
Private Equity ,
Reporting Requirements ,
Sustainability ,
Sustainable Business Practices
Following the publication of the ISSB Standards, the IFRS Foundation will take over monitoring of companies’ climate progress from 2024.
On 10 July 2023, the International Sustainability Standards Board (ISSB) and...more
Renewable fuels of non-biological origin would play an expanded role in satisfying EU decarbonisation targets.
The European Council has formally endorsed the proposed amendments to Directive (EU) 2018/2001 on the...more
7/7/2023
/ Carbon Emissions ,
Clean Energy ,
Climate Change ,
Electricity ,
Energy Projects ,
Energy Sector ,
EU ,
EU Directive ,
Green Energy ,
Hydrogen Power ,
Member State ,
Power Plants ,
Renewable Energy
On June 26, 2023, the International Sustainability Standards Board (ISSB) released its first two standards for sustainability disclosures, which are designed to facilitate the disclosure of sustainability-related information...more
The regulation aims to minimise the EU’s contribution to deforestation and forest degradation.
The European Deforestation Regulation (EUDR) entered into force on 29 June 2023, following publication in the Official Journal...more
The ASA conveyed a sense of urgency, as it believes influencing consumer behaviour will be an important part of meeting UK net zero targets.
On 23 June 2023, the UK’s Advertising Standards Authority (ASA) published an...more
6/29/2023
/ Advertising ,
Advertising Standards Authority ,
Climate Change ,
False Advertising ,
Greenwashing ,
Guidance Update ,
Marketing ,
Misleading Statements ,
Sustainable Business Practices ,
UK ,
UK Competition and Markets Authority (CMA)
The FTC will likely update Green Guides provisions, impacting corporate decision-making in marketing and throughout the value chain.
Latham & Watkins is pleased to present a series of Clients Alerts on environmental,...more
6/28/2023
/ Advertising ,
Chemicals ,
Climate Change ,
Environmental Claims ,
Environmental Social & Governance (ESG) ,
Federal Trade Commission (FTC) ,
Green Guides ,
Green Marketing ,
Greenwashing ,
Marketing ,
Recycling ,
Supply Chain ,
Sustainability ,
Sustainable Business Practices
The Guidelines build on current social, environmental, and technological issues facing businesses following the last update in 2011.
The Organisation for Economic Co-operation and Development (OECD) released updated...more
6/27/2023
/ Climate Change ,
Compliance ,
Corporate Governance ,
Corporate Social Responsibility ,
Due Diligence ,
EU ,
Guidance Update ,
Member State ,
Multinationals ,
OECD ,
Regulatory Agencies ,
Supply Chain ,
Sustainable Business Practices ,
Transparency ,
UK
The forthcoming guidelines will set supervisory expectations to steer financial institutions’ transition planning processes to facilitate decarbonisation efforts by their clients.
On 8 June 2023, the Monetary Authority...more
6/22/2023
/ Climate Change ,
Consultation ,
Corporate Governance ,
Environmental Social & Governance (ESG) ,
Financial Institutions ,
Monetary Authority of Singapore ,
Rating Agencies ,
Regulatory Agenda ,
Risk Factors ,
Singapore ,
Sustainability ,
Sustainable Finance