Recent studies show ESG implementation in mainstream finance has improved significantly, presenting opportunities for sustainable, long-term returns. By Paul A. Davies and Michael D. Green In recent years, Environmental, Social and Governance (ESG) implementation has transformed from a niche to mainstream activity, as asset managers, asset owners, and pension funds increasingly recognize the importance of ESG factors to investors, stakeholders, and shareholders. Issues such as climate change, remuneration, modern slavery, and equal pay have led…

China continues to implement an IT-based big data system of market regulation that rewards and punishes individuals and enterprises. By Paul A. Davies and R. Andrew Westgate China is currently implementing an innovative approach to monitoring, rating, and regulating the behaviour of market participants through a new “social credit system” (SCS) set forth in the Plan for Establishing a Social Credit System (the Plan). The Plan, first published in 2014, applies credit ratings across social,…

China’s NDRC will provide green subsidies to projects that address significant environmental problems. By Paul A. Davies and R. Andrew Westgate China’s National Development and Reform Commission (NDRC) has announced plans to provide subsidies of up to 60% for “green” investment projects in the Yangtze River Economic Belt (YREB) in China’s latest attempt to combat pollution while stimulating growth. Yangtze River Economic Belt Development Plan 2016 The Chinese government announced the launch of the YREB…

2018 Year in Review: Public agencies prevailed in 65% of CEQA cases analyzed. By James L. Arnone, Marc T. Campopiano, Christopher W. Garrett, and Lucinda Starrett Over the course of 2018, Latham & Watkins lawyers reviewed all 57 California Environmental Quality Act (CEQA) cases, both published and unpublished, that came before California appellate courts. These cases covered a variety of CEQA documents and other topics. Below is a compilation of information from…

The Guide aims to improve climate-related risk disclosure in organizations’ mainstream reports. By Paul A. Davies and Kristina S. Wyatt The Taskforce on Climate Related Financial Disclosures (TCFD) has issued an Implementation Guide designed to foster improved reporting of climate-related information. The TCFD has enjoyed widespread support since its formation in 2015, yet relatively few organizations are applying the TCFD’s reporting guidance to address climate impacts in their disclosure documents.[i] The new Implementation Guide…