ESG

European Commission Announces Simplifications to the Implementation of the EU Deforestation Regulation

Posted on April 16, 2025

Posted in Air Quality and Climate Change, Environmental Regulation, Environmental, Social, and Governance, European Environmental and Public Law

Modern green building with innovative high rise vertical garden

The updated guidance includes simplification measures allowing due diligence statements’ reuse, annual submission, and management by authorised representatives on behalf of companies.

By Paul A. Davies, Michael D. Green, James Bee, and Toon Dictus

On 15 April 2025, the European Commission (the Commission) announced measures to simplify the implementation of the EU Deforestation Regulation (EUDR), which is set to apply from 30 December 2025. This initiative is part of the Commission’s more general ongoing focus on streamlining…

UK Government Issues Updated Modern Slavery Act Transparency Guidance: Key Takeaways for Businesses

Posted on March 31, 2025

Posted in Environmental, Social, and Governance

The guidance clarifies obligations, shares steps businesses should take, and reinforces reporting to combat modern slavery.

By Paul A. Davies, Michael D. Green, James Bee, and Toon Dictus

On 25 March 2025, the UK Home Office published its updated Transparency in Supply Chains (TISC): Statutory Guidance (the Guidance), which provides new and detailed recommendations to help organisations comply with Section 54 of the Modern Slavery Act 2015 (MSA). The Guidance includes clearer expectations and practical tips designed…

ESG — US State-Level Developments for Private Capital and Financial Institutions

Posted on June 21, 2024

Posted in Environmental, Social, and Governance

Private capital providers, investors, asset managers, and financial institutions will likely continue to face a fragmented regulatory landscape on ESG matters.

By Betty M. Huber, Matthew Green, Henry Miller, Austin J. Pierce, Catherine G. Willis, and Sam Wong

Various US states have taken and continue to take action on ESG investing and other matters, with new variants emerging regularly. Some of the state bills, laws, and actions overlap thematically, and indeed some are based on…

International Tribunal on the Law of the Sea Issues Landmark Advisory Opinion on Climate Change

Posted on May 30, 2024

Posted in Environmental, Social, and Governance

The Tribunal confirmed that States party to UNCLOS must take measures to prevent marine pollution caused by climate change, on top of their obligations under the Paris Agreement.

By Paul A. Davies, Sophie J. Lamb KC, Michael D. Green, and Stephanie Forrest

On 9 April 2024, the International Tribunal on the Law of the Sea (ITLOS, or the Tribunal) issued a long-awaited advisory opinion on climate change and international law, concluding that States party to the United Nations Convention on the Law of the Sea (UNCLOS) are subject to specific obligations to prevent, reduce, and control greenhouse gas (GHG) emissions and their adverse effect on the marine environment.

The Case Against the SEC’s Final Climate Rules Begins in Earnest (and What It Means)

Posted on April 8, 2024

Posted in Environmental Litigation, Environmental Regulation, Environmental, Social, and Governance

The Eighth Circuit is poised to determine the fate of the SEC’s final climate regulation, potentially by the end of the year.

By Paul A. Davies, Sarah E. Fortt, and Betty M. Huber

On March 21, 2024, the US Court of Appeals for the Eighth Circuit was selected as the court that will hear challenges against the Securities and Exchange Commission (SEC or Commission) over its final climate disclosures rules, which were adopted on March 6.[i]…

China’s Stock Exchanges to Plan Sustainability Disclosure Rules for Big Companies

Posted on March 15, 2024

Posted in Environmental Regulation, Environmental, Social, and Governance

The guidelines aim to transform China’s approach to ESG by introducing sustainability disclosure rules for large listed companies.

By Hui Xu, Paul A. Davies, Jean-Philippe Brisson, and Qingyi Pan

On February 8, 2024, under the auspices of the China Securities Regulatory Commission (CSRC), each of China’s three major stock markets — Shanghai Stock Exchange, Shenzhen Stock Exchange, and Beijing Stock Exchange— unveiled draft guidelines on sustainable development reports (SDRs) (collectively referred to as the Guidelines). The Guidelines require the largest Chinese public companies to publish high-quality and standardized SDRs, and are open for public comment until February 29, 2024.

Four Stock Exchanges Collaborate to Develop the ASEAN-Interconnected Sustainability Ecosystem

Posted on March 6, 2024

Posted in Environmental, Social, and Governance, Green Finance

The stock exchanges of Malaysia, Indonesia, Thailand, and Singapore have partnered to advance sustainability in ASEAN through the development of an interregional ESG ecosystem.

By Paul A. Davies, Farhana Sharmeen, Michael D. Green, James Bee, and Kevin Mak

On February 15, 2024, Bursa Malaysia Berhad (Bursa Malaysia), Indonesia Stock Exchange (IDX), The Stock Exchange of Thailand (SET), and Singapore Exchange (SGX Group) released a joint statement announcing their collaboration on the development of the ASEAN-Interconnected Sustainability…

EU Reaches Provisional Agreement on ESG Ratings Regulation

Posted on February 27, 2024

Posted in Environmental, Social, and Governance

The European Parliament and the Council of the EU have made some significant changes to the European Commission’s proposal.

On 5 February 2024, the European Parliament and Council of the EU announced that they had reached a provisional political agreement on the text of the ESG Ratings Regulation (the Regulation). The agreed text was subsequently published on 14 February 2024. The Regulation was initially proposed by the Commission in June 2023, and seeks to introduce a new regulatory regime for ESG ratings providers “operating in the Union”. Refer to this Latham blog post for previous commentary on the proposal.

New Zealand Supreme Court Paves Way for Novel Climate Change Claim

Posted on February 12, 2024

Posted in Air Quality and Climate Change, Environmental Litigation, Environmental, Social, and Governance

On appeal of a strike out decision, the Court gives the plaintiff “his day in court” to argue that corporates owe a common law duty of care in tort to reduce greenhouse gas emissions.

By Sophie J. Lamb KC and Stephanie Forrest

On 7 February 2024, the Supreme Court of New Zealand decided to allow a novel climate change claim to proceed to trial. In Smith v. Fonterra, the Supreme Court reversed the earlier decision of its Court of Appeal…

UK Government Launches Critical Imports and Supply Chains Strategy

Posted on January 18, 2024

Posted in Environmental, Social, and Governance

London skyline seen from the River Thames

The strategy aims to boost supply chain resilience of critical goods.

By Paul A. Davies, Michael D. Green, and James Bee

On 17 January 2024, the government launched the Critical Imports and Supply Chains Strategy (the strategy), which aims to safeguard UK supplies of goods including medicine, minerals, and semiconductors.

The strategy forms part of a wider government initiative to back businesses and grow the UK economy by helping companies build resilient supply chains and maintain supplies of critical goods and raw materials.

The strategy notes that recent global events, including the COVID-19 pandemic, geopolitical tensions, and climate change have highlighted vulnerabilities of the UK’s essential supply chains. The strategy thus focuses on ensuring reliable access to critical imports for present and future needs.

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