The First Civil Senate of the German Federal Court of Justice, which is in charge of competition law, has ruled that advertising with an ambiguous environmental term (here: “climate neutral”) is generally only lawful if the specific meaning of the
After the results of the European elections, where the presidential political party lost a significant number of seats at the European Parliament, the president of the French Republic Emmanuel Macron decided to dissolve the National Assembly. This dissolution was effected
Multinational companies are facing increased pressure to ensure that they have adequate ESG-related policies in place and (more importantly) that they are implementing those policies in practice within both their business and associated supply chains via appropriate systems and controls.
Japan is considering whether to require all of its primary listed companies to publish an annual sustainability report which substantively conforms with the standards issued by the IFRS’ International Sustainability Standards Board (“ISSB”). The new mandatory disclosure rule would be
On 3 June 2024, the Asia Pacific Loan Market Association (“APLMA”) published its set of “Model Provisions for Green Loans” (“Model Provisions”), following the publication of the “Draft Provisions for Sustainability-Linked Loans” by the London-based Loan Market Association (“LMA”) a
On May 28 2024, the Biden administration released the “Voluntary Carbon Markets Joint Policy Statement and Principles”.
The Joint Statement makes a number of important and supportive points in favor of the VCM, noting that:
On April 24, 2024, the Loan Market Association (LMA) published its Sustainability Coordinator Letter. The publication of the LMA’s letter follows the LSTA’s February 2023 publication of its own Sustainability Structuring Agent Engagement Agreement Inserts. This Legal Update contains a
The European Securities and Markets Authority (ESMA), published a combined report on its 2023 Common Supervisory Action (CSA) and the accompanying Mystery Shopping Exercise (MSE) on marketing disclosure rules under MiFID II. ESMA, together with the National Competent Authorities (NCAs),
On 16 May 2024, the UK Government published an implementation update on its development of economy-wide sustainability disclosure requirements (the “Implementation Update”). The Implementation Update, which the UK Government committed to publishing in its 2023 Green Finance Strategy (which you
On 14 May 2024, the European Securities and Markets Authority (“ESMA”) published its final report on “Guidelines on funds’ names using ESG or sustainability-related terms” (the “Guidelines”). The Guidelines aim to provide fund managers with clear and measurable
