Following extended negotiations, the directive was endorsed with a significantly narrower scope that would reduce the number of companies affected.
On 15 March 2024, EU Member States endorsed the Belgian Presidency’s...more
3/18/2024
/ Belgium ,
Due Diligence ,
Environmental Social & Governance (ESG) ,
EU ,
EU Directive ,
European Council ,
European Parliament ,
Germany ,
Member State ,
Supply Chain ,
Sustainability ,
Sustainable Business Practices
The European Parliament and the Council of the EU have made some significant changes to the European Commission’s proposal.
Key Points:
..The agreed text includes important clarifications on the scope of the regime and...more
The directive aims to reduce waste and bolster the repair sector.
On 2 February 2024, the European Parliament (Parliament) and European Council (Council) reached a provisional deal on a directive promoting the repair of...more
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
For in scope companies, disclosures may be required as early as the reporting period for the 2024 financial year.
On 22 December 2023, the Commission Delegated Regulation specifying the first set of European...more
1/8/2024
/ Climate Change ,
Corporate Governance ,
Disclosure Requirements ,
EU ,
European Commission ,
International Regulatory Standards ,
Materiality ,
Public Consultations ,
Regulatory Standards ,
Sustainability ,
Sustainable Business Practices
Political Agreement Reached on Corporate Sustainability Due Diligence Rules -
On 14 December 2023, the European Council (Council) and European Parliament (Parliament) reached a political agreement on the Corporate...more
The new rules would oblige companies to integrate their human rights and environmental impact into their management systems.
On December 14, 2023, the European Council (Council) and European Parliament (Parliament)...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 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
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 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
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
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 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 Commission issued its formal consultation on the ESRS with a number of proposed changes.
On 9 June 2023, the European Commission (Commission) issued its formal consultation on the European Sustainability Reporting...more
6/16/2023
/ Climate Change ,
Comment Period ,
Consultation ,
Corporate Governance ,
EU ,
European Commission ,
Materiality ,
Member State ,
Proposed Amendments ,
Reporting Requirements ,
Sustainability
Trialogue negotiations have begun following the parliament’s vote.
On 1 June 2023, the European Parliament voted to adopt its initial negotiating position on the EU’s proposed Corporate Sustainability Due Diligence...more
The Commission has clarified requirements for financial product classifications and the definition of “sustainable investment” under the SFDR. ...more
5/24/2023
/ Alternative Investment Funds ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
EU ,
European Commission ,
European Supervisory Authorities (ESAs) ,
Financial Products ,
Investors ,
Market Participants ,
Marketing ,
Regulation Technical Standards (RTS) ,
SFDR ,
Sustainability ,
Sustainable Business Practices ,
UCITS
The Commission is also consulting on proposed targeted amendments to the Taxonomy Climate Delegated Act and on the Taxonomy Disclosures Delegated Act.
On 5 April 2023 the European Commission opened a consultation on its...more
4/18/2023
/ Climate Change ,
Consultation ,
Disclosure Requirements ,
Environmental Policies ,
EU ,
European Union Delegated Act (EUDA) ,
Green Finance ,
Proposed Amendments ,
Sustainability ,
Sustainable Finance ,
Taxonomy
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
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 proposals form part of the Green Deal Industrial Plan and aim to scale up technology and materials for the energy transition.
On 16 March 2023, the European Commission (Commission) formally proposed two legislative...more
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
The EU’s latest initiative to enhance ESG disclosures will expand the requirements of earlier initiatives and bring considerably more companies within its scope.
On 5 January 2023, the Corporate Sustainability Reporting...more
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