Tag results for 'ESG-committee-content'

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Updated OECD Guidelines for Multinational Enterprises: implications for corporate disclosure and due diligence

The 2023 revision of the OECD’s newly renamed Guidelines for Multinational Enterprises on Responsible Business Conduct reflects the significant social, environmental and technological developments that have transpired since the last update to the Guidelines in 2011. This article considers the key implications of the update for corporate disclosure and due diligence across the areas covered by the Guidelines, including human rights, labour rights, the environment, bribery and corruption, consumer interests and science, technology and innovation.

Released on Oct 4, 2023

The effect of the energy transition on the oil and gas industry in Ghana

Ghana is heavily reliant on its hydrocarbon resources for generating income. While there is continuing demand for energy resources, there is also a call for reductions in emissions and the petroleum sector is under pressure to clarify how energy transitions will affect its activities and organisational frameworks, as well as explain the ways in which it can contribute to mitigating greenhouse gas emissions. This transition to renewable sources has an impact on the petroleum market in Ghana as the landscape for oil and gas companies has profoundly shifted due to the countries and international organisations establishing climate change obligations. The effect of the transition is however yet to be greatly felt within the jurisdiction as hydrocarbons remain a major focus.

Released on Oct 2, 2023

The energy transition in Italy

Energy transition is a high priority on the European Union’s agenda. It has led to Italy introducing a radical reform to its energy supply system. This has taken place in the threefold political and regulatory direction of maximising the use of renewable energy sources, increasing domestic natural gas production and reducing the use of hydrocarbons.

Released on Oct 2, 2023

Retention strategies for female talent in law firms

This article outlines the conditions law firms must put in place to cater specifically to the needs of their female talent, in order to increase female retention rates and, as a result, improve diversity and inclusion.

Released on Sep 21, 2023

New protocol from Italian institutions to monitor gender equality in the workplace

This article outlines a new protocol executed by the Italian National Labour Inspectorate and National Equality Counsellor, who will work together to carry out in-depth analysis of initiatives concerning labour issues from a gender perspective.

Released on Sep 21, 2023

Male allies in the pursuit of gender equity and inclusion

For years, women have been calling out the invisible barriers they face in the different aspects of their lives, but many times their calls have only been heard by other women. When men hear, understand and bring their voice to these issues, their efforts to advocate for closing the gender gap are more likely to be heard at higher levels and have more impact.

Released on Sep 21, 2023

Unconventional approaches to ESG compliance in Pakistan

ESG compliance has emerged as the standard by which companies' environmental, social and governance (ESG) practices are evaluated. Companies employ diverse methods to ensure ESG compliance, emphasising the growing importance of social responsibility. This article aims to highlight the laws and policies for companies in Pakistan that promote ESG compliance through unconventional means.

Released on Jul 31, 2023

ESG and modern slavery in Brazil: what should companies know?

The ‘S’ pillar in ESG focuses on practices related to diversity, anti-discrimination, health and safety in the workplace, and modern slavey. The eradication of modern slavery is one of the most important aspects for companies to consider, especially in Brazil where labour authorities have been paying great attention to modern slavery in supply chains.

Released on Jun 20, 2023

Navigating the challenges and opportunities of ESG compliance

The article discusses the importance of environmental, social and governance (ESG) compliance for businesses. ESG compliance involves a company’s adherence to practices aligned with the values and expectations of stakeholders, highlighting the challenges companies face in implementing ESG practices, such as navigating the complex regulatory environment and collecting reliable ESG data. This article also emphasises the opportunities for companies that prioritise ESG practices, including improved performance, reputation, access to capital and stronger stakeholder relationships. The article recommends best practices for ESG compliance, such as developing a clear ESG strategy, establishing relevant ESG metrics and integrating ESG practices into business operations.

Released on Jun 20, 2023

ESG: the future of employment in Pakistan

Historically, Pakistan’s alignment with the environmental, social and governance (ESG) movement has been tepid, but efforts have been made to encourage ESG compliance within the country. Pakistan’s legal framework provides a conducive environment for firms to establish and achieve ESG goals, attracting investments across various sectors, including agriculture, banking and infrastructure development. In 2021, a record $649bn was invested in ESG-focused funds worldwide and the sustainable finance industry saw the emergence of ESG-linked loans and incentive-linked securities in different regions. This article explores the recent emergence of the environmental and social aspects of ESG in Pakistan and their impact on the future of employment in the country.

Released on Jun 20, 2023

Opinion: Rio Tinto and the Juukan Gorge incident: legal compliance – always necessary, rarely sufficient

When Rio Tinto blew up the ancient Juukan Gorge Caves in May 2020, it did not appear to break any state or federal laws. However, a thorough review of the Board’s report shows how the executive team failed to consider business and human rights legal frameworks that the company had adopted. When the law permits potential human rights and environmental harms, having the right people at the top and a robust integrated ESG programme can make the difference between good and bad corporate conduct.

Released on Jun 6, 2023

Opinion: shareholder activism is the latest partisan battleground

As shareholders increasingly take action to address environmental, social and governance (ESG) issues at public companies, a reactionary movement has mobilised to oppose their efforts. This anti-ESG movement promises to fight back against what it views as ‘woke capitalism’ and its positions attempt to make an ideological statement rather than effect change at companies. Though anti-ESG proposals and board contests have yet to gain significant traction in the corporate setting, increased politicisation of shareholder activism will likely result in heightened tensions during proxy seasons to come.

Released on Jun 5, 2023

OPINION: Corporate criminal liability as a tool for mandatory human rights/ESG due diligence and disclosure – a missed opportunity

This article examines how the introduction of corporate criminal liability for environmental, social and governance (ESG)-related breaches would lead to an enhanced mandatory human rights due diligence and disclosure regime.

Released on Jun 2, 2023

Norway and the right to information under human rights principles

The Norway Transparency Act, a mandatory human rights due diligence law that came into force last year, includes a right to information. While the right to information is considered a part of freedom of expression, the right has previously applied only to states. Its inclusion in the Norwegian law has led stakeholders in Norway, as well as non-governmental organisations, investors, unions and others outside of Norway, to use the law as a discovery tool to obtain specific insights into global company programmes and issue management, and how salient risks are being addressed. While we have not yet seen other national governments or the EU adopt a similar provision, it is certainly something to watch.

Released on May 24, 2023

Survey on ESG public disclosures

This survey aims to assess how different jurisdictions regulate environmental, social and governance (ESG) disclosures and to determine whether and to what extent ESG disclosures are now mandatory due to prevailing regulatory trends and institutional investors’ demands.

Released on May 18, 2023

Japan: launching an ESG grievance mechanisms platform and the role of lawyers

In 2022, the Japan Centre for Engagement and Remedy on Business and Human Rights (JaCER) was established to provide a platform of corporate grievance mechanisms for addressing ESG issues and human rights abuses. As of 2023, more than 20 Japanese major companies from various sectors participate in JaCER. This article explains why JaCER was established, how JaCER aims to increase the effectiveness of grievance mechanisms, and how lawyers can contribute to it.

Released on May 11, 2023

The role of ESG factors in shaping M&A deal value and reputation

This article discusses how environmental, social and governance (ESG) factors and human rights considerations are increasingly influencing mergers and acquisitions (M&A) deals worldwide, and the importance of an ESG focus on due diligence, integration and disclosure throughout the transaction process. The article explores: the impact of ESG and human rights factors on deal value and corporate reputation; the nature of ESG due diligence; incorporating ESG factors into M&A transaction documents; and best practices for ESG and human rights disclosure in M&A transactions.

Released on May 11, 2023

Employment and diversity lawyers and the ‘S’ in ESG

This article intends to highlight the workplace issues that have emerged as a result of the growing ESG movement.

Released on Apr 20, 2023

To disclose or not to disclose ESG: are ESG public disclosures even a choice anymore given the prevailing regulatory trends and institutional investors’ demands?

Major institutional investors are taking a principled approach towards companies that provide insufficient ESG disclosures and regulators across the globe are increasingly making adequate annual ESG disclosures mandatory. The purpose of the session was to discuss emerging worldwide trends in ESG disclosure, as well as the related risks and opportunities.

Released on Apr 14, 2023

ESG’s impact on private equity and venture capital transactions

Globally, environmental, social and governance (ESG) considerations continue to have increasing relevance in mergers and acquisitions transactions for several reasons: the gradual and progressive changing of the investors’ mind set, the attention of the banking system towards focusing on sustainability ratings in addition to credit ratings, the integration of ESG factors into an initial public offering’s use of proceeds and, last but not least, the mandatory EU regulations that involve the private equity and venture capital sector.

Released on Apr 3, 2023

The coming year of the ‘great refresh’: a test of India’s boardroom diversity commitments

The year 2024 is colloquially referred to as the ‘board refresh year’ for India, because of the statutory director tenure provisions. This presents an opportunity for India Inc to ingrain diversity principles at the board level and achieve a real-time notch-up in corporate governance. In the past several years, there has been a notable trend of regulatory intervention to increase gender diversity in corporate boards globally, by either mandating gender quotas or setting out principles as a voluntary guideline for the appointment of at least one woman director to the board of directors.

Released on Apr 3, 2023

ESG in M&A

Given the ever-increasing focus on sustainability, businesses would be well advised to take environmental, social and governance (ESG) factors into account in today's M&A transactions.

Released on Apr 3, 2023

The Indian green bond market: a step towards ‘green financing’ in a growing taxonomy

Over the last few years, the Indian government has taken measures towards environmental sustainability along with economic growth. The Finance Minister, while tabling the Union Budget 2023–24, specified green growth as one of the seven priorities of the Indian government and in doing so, the aim of achieving net-zero carbon emission by 2070 was highlighted.

Released on Mar 15, 2023

Revolutionising the board governance of environmental, social and corporate governance: voluntary constitution of ESG committees by Indian listed companies

There is a discernible trend of Indian listed companies suo moto constituting ESG committees of its board of directors and/or management to focus on ESG-related aspects and to strengthen their commitment to ESG. This piece discusses this trend in the making.

Released on Dec 21, 2022

The era of environmentally and socially conscious entities: ESG in Cyprus

This article will provide an overview of European Union legal obligations on entities to report and disclose information on issues which relate to society and the environment with the added colour of ESG, and how these have been applied in Cypriot law and in the practices of Cypriot corporate culture.

Released on Dec 13, 2022

Biodiversity moves up general counsel agenda

While the biodiversity agenda is nascent compared to the fight against the climate crisis, they are linked and investors are increasingly taking note of this. In-House Perspective reports on how in-house counsel can prepare their companies to address the threat of biodiversity loss.

Released on Nov 23, 2022

What ‘green’ means: the role of disclosure in sustainable finance in Singapore

This article focuses on the objectives and effects of environmental, social and governance disclosure, and its use by the Singapore Exchange and the Monetary Authority of Singapore, Singapore’s central bank and financial supervisory authority, as a calibrated regulatory tool in the sustainable finance sector.

Released on Nov 10, 2022

An overview of the recent ESG-related developments in the maritime sector, with particular focus on South Africa

There is a growing acceptance and integration of Environmental, Social and Governance (ESG) principles among South African corporates, who recognise that this is not only essential to attract investment, but there is a requirement for them to align themselves with the global expectations of corporate responsibility and its sustainable impact relating to basic needs, empowerment, climate change, natural capital and governance.

Released on Oct 18, 2022

Governance, stewardship and activism (2022)

The panellists of this session at the 19th Annual International Mergers and Acquisitions Conference in New York discussed trends including the role and perspectives of institutional investors, shareholder activism and the head winds and tail winds of sustainability and long term investment, both in the United States and globally.

Released on Oct 7, 2022

The importance of the ESG movement to employment and diversity lawyers

The emergence of a powerful ESG movement, embracing so many causes and interested parties, requires more attention by employment and diversity lawyers with regard to monitoring compliance issues and to anticipate campaigns and complaints in advance.

Released on Oct 3, 2022