A new California ”anti-greenwashing” law comes into effect on January 1, 2024. The law – called the Voluntary Carbon Market Disclosures Act (AB 1305) (VCMDA) – casts a wide net over companies participating in the California voluntary carbon market or that make certain “green” claims within California. The VCMDA applies regardless of revenue thresholds if
This mini Q&A series will follow COP28, providing you with a quick and easy way to stay informed as the discussion evolves. Our coverage will highlight significant and recent developments from a legal perspective, allowing you to assess the impact of these on your business.
In this video, Tim Baines (Environmental partner, London, and founding
On 28 November 2023, the UK’s Financial Conduct Authority (“FCA“) published its “Sustainability Disclosure Requirements (“SDR“) and investment labels” policy statement (PS23/16) (the “Policy Statement“). The Policy Statement introduces a set of new rules aimed at tackling greenwashing, including investment product sustainability labels and restrictions on how terms
On 27 September 2023, Brazil’s Supreme Court concluded the trial of Extraordinary Appeal No. 1,017,365, which discussed a cut-off date for indigenous occupation as a requirement for demarcation of indigenous lands. Based on a strict interpretation of the Brazilian Constitution, the time limit thesis tried to implement a cut-off date to restrict indigenous land claims, arguing that only indigenous lands occupied on the date of the 1988 Constitution promulgation could be demarcated by the Federal Government. In reviewing the appeal, the Supreme Court not only rejected the time limit requirement, but also established a broad set of criteria covering other relevant aspects to the demarcation of indigenous lands.Continue Reading Brazil’s Supreme Court rejects time limit requirement for indigenous land demarcation
Brazil’s draft Sustainable Taxonomy Action Plan (the Action Plan), prepared by the Ministry of Finance, is currently under public consultation and receiving contributions and comments for its improvement. The deadline for taking part in the public consultation is October 20, 2023.
The development of a sustainable taxonomy seeks to address Brazil’s main environmental and social
UK Prime Minister, Rishi Sunak, has announced a major U-turn on the UK’s “net zero” policies. This amounts to 3 key policy changes:
The changes have met with a mixed response, with some commentators highly critical of Mr Sunak’s U-turn, warning that introducing uncertainty could severely undermine investor confidence in the UK.Continue Reading UK rolls back “net zero” ambitions, carbon offsets face renewed attack and the spotlight falls (again) on policing carbon markets
The EU Corporate Sustainability Reporting Directive (“CSRD“) entered into force on 5 January 2023 and the associated European Sustainability Reporting Standards (“ESRS“) were adopted by the European Commission on 31 July 2023. Together, the CSRD and ESRS create detailed sustainability reporting requirements that will apply to a significant number of EU and non-EU companies and substantially increase the scope of their sustainability reporting.
Application of the rules is now imminent and, for some, CSRD reporting periods will begin from 1 January 2024.
In this update, we take a look at the implications of the CSRD for non-EU companies and what companies can do to prepare.Continue Reading The EU Corporate Sustainability Reporting Directive is upon us – what non-EU companies should know and do
At the Summer 2023 National Meeting of the US National Association of Insurance Commissioners (“NAIC”), a number of sessions were focused on environmental, social and governance (“ESG”) initiatives, led by the Special (EX) Committee on Race and Insurance (the “R&I Committee”) and the Climate and Resiliency (EX) Task Force (“C&R
On 31 July 2023, the European Commission adopted the European Sustainability Reporting Standards (“ESRS“). EU and non-EU entities subject to the new EU Corporate Sustainability Reporting Directive (“CSRD“) will be required to report against the ESRS, making the development of interest to entities preparing for reporting under the CSRD regime.Continue Reading European Commission adopts the European Sustainability Reporting Standards
Given the ambitious targets for offshore wind in support of the UK’s net zero ambitions, it is recognised that the existing grid connection infrastructure may be inadequate and that it is likely that provision needs to be made for more co-ordinated grid connections that incorporate the additional capability required to connect future offshore generation projects.