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
The court’s decision is the latest development in the litigation over the SEC’s final rules, which have faced numerous legal challenges since their adoption.
On March 15, 2024, the US Court of Appeals for the Fifth Circuit...more
3/21/2024
/ Administrative Procedure Act ,
Annual Reports ,
Climate Change ,
Corporate Governance ,
Corporate Social Responsibility ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
Popular ,
Publicly-Traded Companies ,
Securities and Exchange Commission (SEC) ,
Securities Regulation
The guidelines aim to transform China’s approach to ESG by introducing sustainability disclosure rules for large listed companies.
On February 8, 2024, under the auspices of the China Securities Regulatory Commission...more
3/15/2024
/ China ,
Climate Change ,
Compliance ,
Compliance Dates ,
Corporate Governance ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
Publicly-Traded Companies ,
Regulatory Authority ,
Shanghai Stock Exchange ,
Shenzhen Stock Exchange (SZSE) ,
Stock Exchange ,
Sustainability ,
Sustainable Business Practices
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)
The Accounting and Corporate Regulatory Authority and Singapore Exchange Regulation have provided details of mandatory climate reporting for listed issuers and large non-listed companies.
On 28 February 2024, the...more
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
As the first EU country to transpose the CSRD into national law, France will gradually replace the EFPD with sustainability reporting under the new directive.
The Corporate Sustainability Reporting Directive (the CSRD)...more
Amid new regulations, increased enforcement and litigation, and higher stakeholder scrutiny, companies will need to adopt an integrated and nuanced approach to ESG.
In some ways, 2023 was a challenging year for ESG. This...more
1/17/2024
/ Advertising ,
Artificial Intelligence ,
Business Strategies ,
Climate Change ,
Corporate Counsel ,
Corporate Governance ,
Corporate Liability ,
Corporate Social Responsibility ,
Cross-Border Transactions ,
Disclosure Requirements ,
Enforcement ,
Environmental Social & Governance (ESG) ,
Greenwashing ,
Investors ,
Popular ,
Privately Held Corporations ,
Publicly-Traded Companies ,
Regulatory Agenda ,
Shareholder Activism ,
Strategic Planning ,
Supply Chain ,
Sustainable Business Practices ,
Trade Policy ,
Transparency
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 Private Members Bill, if passed, would establish the UK’s first law mandating business due diligence on human rights and the environment.
On 28 November 2023, Baroness Young of Hornsey (Baroness Young) introduced the...more
The artificial intelligence platform is the most recent development in Singapore’s green initiatives as part of Project Greenprint.
A new platform called “Gprnt.ai” (Gprnt), which launched in November 2023, aims to unify...more
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
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
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
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
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
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 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
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