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 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 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
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 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 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
An evolving landscape of reforms in the ESG ratings sector continues to pose challenges to providers of ratings and scores.
International momentum to regulate ESG ratings continues as the European Commission released a...more
6/16/2023
/ Consultation ,
Corporate Governance ,
Data Collection ,
Environmental Social & Governance (ESG) ,
EU ,
European Commission ,
European Securities and Markets Authority (ESMA) ,
Global Market ,
HM Treasury ,
India ,
IOSCO ,
Japan ,
Ratings ,
Regulatory Agencies ,
Regulatory Agenda
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 government has announced the launch of ESG standards to help companies transition to renewable energy.
On 11 April 2023, the Malaysian government announced that it will introduce a framework on environmental, social,...more
The consultation seeks feedback on its “measures-based approach” to classifying industrial activities, as well as “Do No Significant Harm” criteria.
The Green Finance Industry Taskforce (GFIT) was convened by the...more
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
From 2024 at the earliest, more European and global companies will need to disclose their ESG activities in greater detail.
On 10 November 2022, the European Parliament adopted a final version of the Corporate...more
11/18/2022
/ Corporate Counsel ,
Corporate Governance ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
EU ,
EU Directive ,
European Commission ,
European Parliament ,
Financial Reporting ,
Sustainability ,
Sustainable Business Practices
The FCA hopes the proposals will protect consumer trust in ESG-related financial products and help consumers navigate the increasingly complex ESG-related financial market.
On 25 October 2022, the UK’s Financial Conduct...more
This Client Alert probes the ESG “materiality assessment” process, why it is a misnomer, when and how the assessment can be conducted, and legal and practical tips for conducting the assessment.
Companies have been...more
The call highlights the challenges in developing alignment between global ESG reporting standards.
The European Central Bank (ECB) and the International Monetary Fund (IMF), two of the world’s leading public financial...more
8/22/2022
/ Climate Change ,
Corporate Governance ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
EU ,
European Central Bank ,
IFRS ,
IMF ,
International Regulatory Standards ,
Net Zero ,
Regulatory Standards ,
Securities and Exchange Commission (SEC) ,
Sustainable Finance ,
Task Force on Climate-related Financial Disclosures (TCFD)
The FCA emphasised the increasing prevalence of providers and the potential harm from lack of regulation in this area.
In June 2022, the UK’s Financial Conduct Authority (FCA) issued a Feedback Statement in response to a...more
The Corporate Sustainability Reporting Directive expands the existing sustainability reporting requirements and brings more companies under its scope.
On 21 June 2022, the European Parliament and European Council reached...more
6/24/2022
/ Audits ,
Certification Requirements ,
Compliance ,
Compliance Dates ,
Environmental Social & Governance (ESG) ,
EU ,
EU Directive ,
European Council ,
European Parliament ,
Publicly-Traded Companies ,
Reporting Requirements ,
Sustainability ,
Sustainable Business Practices
The move follows a number of similar standards that regulators and governments across the globe have proposed. With effect from 1 June 2022, the Guidance for Enterprise ESG Disclosure (the Guidance), published by...more
6/16/2022
/ Accounting Standards ,
China ,
Climate Change ,
Corporate Counsel ,
Corporate Governance ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
Greenhouse Gas Emissions ,
New Guidance ,
SASB ,
Supply Chain ,
Sustainability ,
Sustainable Business Practices ,
Task Force on Climate-related Financial Disclosures (TCFD)
The two new bodies are expected to help harmonise standards in different jurisdictions to meet investor demand for comparable ESG information.
On 27 April 2022, the International Sustainability Standards Board (ISSB)...more
A series of early-stage working papers provide insight into how a proposed EU legislation might expand companies’ ESG reporting obligations.
On 21 April 2021, the European Commission adopted the Corporate Sustainability...more
The Call for Evidence is one of a number of measures the EU is taking as it aims to strengthen the reliability of ESG ratings.
On 4 April 2022, the European Commission (Commission) published a call for evidence (Call for...more
What the proposed rule would mean for registrants and their filings with the SEC.
The US Securities and Exchange Commission’s proposed climate disclosure rule, approved by a 3–1 vote on March 21, 2022, is the agency’s...more
4/6/2022
/ Business Strategies ,
Climate Change ,
Corporate Governance ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
Greenhouse Gas Emissions ,
New Rules ,
Publicly-Traded Companies ,
Regulation S-K ,
Regulation S-X ,
Reporting Requirements ,
Risk Assessment ,
Risk Management ,
Securities and Exchange Commission (SEC) ,
Securities Regulation
The standards are part of a global initiative to consolidate sustainability disclosures to help investors assess the value of companies.
On 31 March 2022, the International Sustainability Standards Board (ISSB) released...more