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Climate Assembly UK Publishes 2050 Net Zero Target Recommendations

Latham's Clean Energy Law Report

September 25, 2020

The UK citizens’ assembly identifies overarching principles and makes specific recommendations for achieving the environmental goal. By Paul A. Davies and Michael D. Green Background The Climate Assembly UK has published its report on how the UK can achieve its statutory target for net zero carbon emissions by 2050. The report, which was released on 10 September 2020, followed more than a month of weekend meetings (some of which took place remotely due to the…

California to Require 100% Zero-Emission Passenger Vehicle Sales by 2035

September 24, 2020

The Governor has issued an Executive Order with sweeping implications for the oil and gas industry and others. By Jean-Philippe Brisson, Joshua T. Bledsoe, Nikki Buffa, and Brian F. McCall On September 23, 2020, California Governor Gavin Newsom signed Executive Order N-79-20, which will have sweeping implications for the oil and gas industry, automakers, low-carbon fuel producers, the logistics industry, and public transit agencies, among others (the Executive Order). Newsom announced…

California to Require 100% Zero-Emission Passenger Vehicle Sales by 2035

September 24, 2020

The Singapore Mediation Convention: Will It Enhance Mediation’s Effectiveness? … in 30 Seconds

September 23, 2020

The Convention, which entered into force this month, should allow courts in certain jurisdictions to recognize and enforce settlement agreements directly. By Oliver E. Browne and Philip Clifford QC Settling a dispute via mediation is one of the most time- and cost-effective approaches a party can take to resolve contentious issues. Mediation — a confidential amicable negotiation process facilitated by a third-party independent mediator — can be a very useful tool in the right circumstances.…

Setters of Sustainability Standards Pledge to Collaborate on Comprehensive Corporate Reporting

Global Financial Regulatory Blog

September 23, 2020

Leading sustainability and integrated reporting organisations plan to provide joint market guidance, in an effort to achieve comprehensive harmonisation. By Paul A. Davies and Michael D. Green A group of leading sustainability and integrated reporting organisations — including the Carbon Disclosure Project (CDP), the Climate Disclosure Standard Board (CDSB), the Global Reporting Initiative (GRI), the International Integrated Reporting Council (IIRC), and the Sustainability Accounting Board (SASB) — have pledged to work together on the harmonisation…

Singapore: New Best Execution Requirements

Global Financial Regulatory Blog

September 22, 2020

MAS confirms regulatory approach for best execution and timeline for compliance. By Farhana Sharmeen and Marc Jia Renn Tan On 3 September 2020, the Monetary Authority of Singapore (the MAS) issued a response to feedback about its proposal for holders of a capital markets service license holders, banks, merchant banks, and finance companies that conduct certain regulated activities (Capital Markets Intermediaries) to establish policies and procedures and/or execute customers’ orders on the best available terms…

Singapore: MAS Issues New Accountability Guidelines for Senior Management

September 22, 2020

The guidelines aim to strengthen the accountability of senior managers in financial institutions. By Farhana Sharmeen and Marc Jia Renn Tan On 10 September 2020, the Monetary Authority of Singapore (the MAS) issued guidelines (the Guidelines) to strengthen the accountability of individuals who are employed by, or acting for or by arrangement with, financial institutions, and are principally responsible for the day-to-day management of key functions in financial institutions (Senior Managers), and to promote ethical…

Earnouts Are Rising Across Europe, But Can They Unlock COVID-19 Valuation Gaps?

September 21, 2020

Despite practical challenges, earnouts are a tool that PE buyers should increasingly consider to reconcile differences and get deals done. By Alexander Benedetti, Giancarlo D’Ambrosio, Sebastian Pauls, Laura Kichenside, Catherine Campbell, Tom Evans, and David Walker The use of earnouts, though historically disliked by PE buyers, is increasing across Europe. Earnouts can provide a way to bridge valuation gaps, a common need given frothy valuations pre-COVID-19, and a more frequently…

Healthcare AI Deals a Tonic for Private Equity Investors

September 21, 2020

Healthcare artificial intelligence is a promising sector for PE investors that requires careful navigation, particularly given divergent regulatory approaches. By Jon Fox, Frances Stocks Allen, Catherine Campbell , Tom Evans, and David Walker PE funds invested more than US$14 billion in healthcare (including pharma) in 2019, up from US$3.5 billion in 2013, and interest is likely to grow further, given the global impact of COVID-19. In our view, the application of artificial intelligence (AI)…

Transacting With Troubled Companies – 3 Tips for PE Deal Teams Navigating Stressed, Distressed, and Insolvent Acquisitions