Proposed regulation will require companies to substantiate their environmental footprint claims, seeking to ensure green claims are more reliable. By Paul A. Davies and Michael D. Green Background On 27 August 2020, the European Commission (the Commission) launched a public consultation on a possible proposal on substantiating green claims about products or services. This follows … Continue Reading
The ESG performance will be measured quarterly, with the average performance of the portfolio companies judged by reference to three KPIs. By Paul Davies, Dominic Newcomb, Farah O’Brien and Michael Green On 11 June 2020, private equity firm EQT announced that it has entered into an environmental, social, and governance–linked fund-level subscription credit facility (SCF) … Continue Reading
Launched ahead of the UN Climate Action Summit in New York, the PRB provides a global framework for a sustainable banking system. By Paul A. Davies and Michael D. Green On 22 September 2019, the United Nations and a group of 130 banks from 49 countries launched the UN Principles for Responsible Banking (PRB) to … Continue Reading
Member States will follow a single EU legislative framework merging industrial policies and environmental protection to encourage sustainable economic and social development. By Paul A. Davies and Jörn Kassow The European Parliament adopted the new Circular Economy Package, on 18 April 2018, setting ambitious, legally binding EU targets for waste recycling and reduction of landfilling. … Continue Reading
Spain takes a further step towards sustainable development with consultation on draft Circular Economy Strategy. By Rosa Espín and Leticia Sitges The Ministry of Agriculture and Fisheries, Food and Environment has launched a public consultation on a draft Circular Economy Strategy, which will involve the business sector, not-for-profit entities, and citizenship in the drafting process. … Continue Reading
Recommendations signal a major shift for Europe’s financial system through both legislative and non-legislative changes. By Paul A. Davies and Aaron E. Franklin The European Commission (EC) has revealed its action plan for mobilizing the financial system to encourage a “greener and cleaner economy.”[1] The plan, which was released on 8 March, states that it … Continue Reading
By Michael Green and Paul Davies Following decision C(2017)7124 of the European Commission (EC), the EC has launched its Work Programme for 2018 (WP 2018). WP 2018 outlines plans for achieving the EC’s primary policy objectives during the next 12 months — with particular attention to environmental issues. WP 2018 outlines four “Focus Areas” (FAs) … Continue Reading
By Paul Davies, Bridget Rose Reineking and Andrew Westgate At the 19th National Congress of the Chinese Communist Party, President Xi Jinping asserted his country’s emerging leadership in environmental stewardship and pledged to build a “beautiful China”. In his speech to the 2,300 delegates and guests assembled for the Congress’s opening session, President Xi lauded China’s … Continue Reading
