Australian Update - Proposed Code of Practice to Reduce Modern Slavery Through Lending, Investment and Asset Management - The New South Wales (NSW) Anti-Slavery Commissioner (Commissioner) recently released its discussion...more
AUSTRALIAN UPDATE - Updated Bill to Introduce Climate-Related Financial Reporting Regime - Background - The Australian Government released the first reading draft of the Treasury Laws Amendment (Financial Market...more
Australian Update - Australian Competition and Consumer Commission Enforcement Priorities for 2024-2025 - The Australian Competition and Consumer Commission (ACCC) has announced its enforcement and compliance priorities for...more
Australian Update - Australian Securities and Investments Commission Continues Greenwashing Enforcement Efforts - On 28 February 2024, the Australian Securities and Investments Commission (ASIC) reported that an outsourced...more
Australia continues to be a highly active jurisdiction for climate-related lawsuits. Since our last update in August 2023, we have seen a steady stream of suits commenced against corporations and government bodies in relation...more
Australian Update - ASIC to Focus on Net Zero Statements and Targets - On 21-22 November 2023, the Australian Securities & Investments Commission (ASIC) hosted the ASIC Annual Forum, outlining: The progress and outcomes ASIC...more
Australian Update - Warnings Issued About Active Investment Greenwashing As reported by the Australian Financial Review, Australian Securities and Investments Commission (ASIC) has warned that superannuation funds who justify...more
On August 10, 2023, the Australian Securities and Investments Commission (ASIC) announced its third civil penalty proceeding this year for greenwashing against LGSS Pty Limited, which is trustee for superannuation fund Local...more
In a speech delivered at the Australian Finance Review’s ESG summit on June 5, 2023, the Australian Securities and Investments Commission’s (ASIC) Chair, Joe Longo, warned companies that greenwashing is an ongoing concern for...more
The Corporate Counsel Summit in Sydney, hosted by Lawyers Weekly, brought together more than 300 legal professionals from various industries to discuss the evolving role of in-house lawyers and the emerging challenges they...more
On February 28, 2023, Australia’s securities regulator, the Australian Securities and Investments Commission (ASIC), announced that it had commenced “civil penalty proceedings” in federal court against Mercer Superannuation...more
The Australian Securities and Investments Commission (ASIC) appears to be making up for lost time as it imposed another greenwashing-related penalty, this time against Black Mountain Energy, an upstream oil and gas company,...more
In June 2022, the Australian Securities and Investment Commission (ASIC) released guidance (INFO 271) for entities offering sustainability-related financial products to avoid making misrepresentations in promotional material,...more