Yesterday, 10 December 2025, the Council’s presidency and European Parliament’s negotiators reached a provisional agreement to simplify the EU’s sustainability reporting and due diligence requirements. The provisional agreement must be now endorsed by the Council and the European Parliament, before it is formally adopted by the two institutions. However, further changes are unlikely and the
California Climate Disclosure Law SB 261 Implementation Halted: Ninth Circuit Grants Injunction Pending Appeal
We know our clients have been following California’s climate-disclosure laws closely – including the timing of effectiveness and the various legal challenges. This update relates to a new Ninth Circuit ruling that has effectively hit “pause” on one key pillar of California’s climate-disclosure package.
On November 18, 2025, the Ninth Circuit Court granted a partial
CARB Delays Rulemaking on California Climate Disclosure Laws—But Reporting Deadlines Stand Firm in Light of New Challenge
This update covers information regarding the California Air Resources Board (CARB) rulemaking delay for California’s climate disclosure laws, SB 253 and SB 261, as well as additional new litigation challenging the constitutionality of these laws. The bottom line for companies is that despite the rulemaking delays and ongoing litigation, the laws remain valid and in
EU Adopts CBAM Simplification Regulation: 10 Key Amendments and Challenges Ahead
On 17 October 2025, Regulation (EU) 2025/2083 of the European Parliament and of the Council of 8 October 2025 amending Regulation (EU) 2023/956 as regards simplifying and strengthening the carbon border adjustment mechanism (“CBAM”) was published in the Official Journal of the European Union (the “CBAM Simplification Regulation”). This is the first instrument to amend
The Summer of ESG
We aren’t half way though August yet and already the Summer of ’25 has been a hot one for corporate sustainability disclosures in the EU and UK.
On 31 July 2025, EFRAG launched its 60-day consultation on the Exposure Drafts of the revised and simplified European Sustainability Reporting Standards (“ESRS”) for those reporting under the
Business and Human Rights: ICJ issues opinion on State obligations in respect of climate change
On 23 July 2025, the International Court of Justice (ICJ) issued a landmark advisory opinion at the request of the United Nations General Assembly, holding that States have a legal obligation to protect the environment, including to address climate change (the “Opinion“). The Opinion also recognised that a “clean, healthy and sustainable environment”
EBA Proposes Amendments to ESG Reporting Requirements for Banks
On 22 May 2025, the EU banking supervisor The European Banking Authority (EBA) announced the release of several proposed amendments to its Pillar 3 disclosure requirements, previously contemplated under the CRR3 banking package. These amendments clarify ESG risk-related reporting for small and medium-sized banks, as well as expand on the guidelines for larger institutions. Feedback
EU Delays CSRD and CSDDD Implementation with “Stop-the-Clock” Directive
- CSRD Reporting Delay: The directive postpones CSRD
Brazilian National Council of Justice Recommends Parameters for Quantifying the Climate Impact of Environmental Damages
The Brazilian National Council of Justice (CNJ) has recently issued Recommendation No. 156/2024, advising all branches of the Brazilian Judiciary and judges to adopt the second scope of the CNJ’s Protocol for Judging Environmental Lawsuits (Protocol). This second scope provides guidelines for quantifying the impact of environmental damages on climate change. In 2023, the CNJ
Dutch Court of Appeal rules on Shell CO2 Emissions
Other contributor: Jan Buschfeld
On 12 November 2024, a Dutch appeals court ruled that Shell does not have to reduce its CO2 emissions by 45% by 2030 compared to 2019 levels, as previously ordered by the Hague District Court on 26 May 2021. Shell now has the right to adjust its own emissions reductions targets