Linklaters ESG

📢 The latest issue of our Global ESG Newsletter is now available here: https://lnkd.in/esREC5y5 Key highlights from the October edition include: ◾ The new 'EU CSDDD explained' podcast series by Linklaters ◾ EU CSRD transposition - where are we in September 2024? ◾ Key sustainability issues in the Draghi report on EU competitiveness ◾ New CMA greenwashing guidance for the fashion industry ◾ First-of-its-kind carbon removal bond to fund Amazon reforestation All this and more in our latest ESG newsletter! 🌿 ✍ Subscribe to our newsletter: https://lnkd.in/eci73GA5 #climatechange #sustainablefinance #ESG #greenwashing #supplychains

Episodes 6 and 7 in our ‘EU CSDDD explained’ podcast series are now available. 🔉 Listen here: https://lnkd.in/eb9-x9Pn ◾ Episode 6: Guillaume Croisant and Aileen Buchanan provide an overview of the environmental and human rights due diligence obligations under the CSDDD and the impacts on business partners. ◾ Episode 7: Guillaume Croisant and James Marlow discuss some of the key concepts behind the due diligence obligations, including practical tips on where businesses should begin, as well as next steps in the run up to July 2027, when the CSDDD will first apply to the initial group of companies within its scope. 📅 Stay tuned for next week’s episodes on the enforcement penalties. #CSDDD #duediligence #humanrights #environment #ESG

💡 The regulator for reporting and audit in the UK, the Financial Reporting Council, has published the results of its latest Annual Review of Corporate Reporting. The FRC has identified comparatively few compliance issues. However, some companies continue to find TCFD-aligned reporting challenging, and the matter has just moved into the top ten issues this year. The most common issue is a lack of clarity around statements of consistency with the TCFD framework. Generally, the FRC notes that disclosures could be more concise and that material information should not be obscured. 👇 See our latest blog post which summarises the key takeaways for sustainability reporting. #FRC #sustainabilityreporting #climateaction

🎙️ Episode three of Bond Beats is now live! https://lnkd.in/eGjQgxEy   Dive into an exciting discussion with Elaine Keats, Sirae Chen and Erin McKeown as they explore The World Bank's latest outcome bond: a first-of-its-kind carbon removal bond to fund Amazon reforestation. Joining them is Shirmila Ramasamy, Senior Counsel and Team Lead of Innovative Finance at the World Bank, who provides deep insights into this innovative financial instrument.   In this episode, we cover: 🌳 The structure of the Amazon Reforestation-Linked Bond 💸 How foregone interest supports reforestation projects in the Amazon 🌍 The World Bank's ambitions for future outcome bonds supporting sustainable development   Don't miss this comprehensive overview of a pioneering effort in sustainable finance!   #BondBeats #SustainableFinance #OutcomeBonds #WorldBank

🌿 Our latest blog post summarises the main takeaways from ECB Frank Elderson's keynote speech on the importance for financial institutions and their supervisors to identify and manage nature-related risks, alongside climate-related ones. Linklaters’ nature and biodiversity materials: https://lnkd.in/eMR3u4r4 #sustainability #biodiversity #esg #ECB

📢 Episodes 4 and 5 in our new 'EU CSDDD explained' podcast series are now available here: https://lnkd.in/eb9-x9Pn ◾ Episode 4: Kim Rybarczyk and Xu Wang explain why the CSDDD’s transition plan requirement is significant, including the detail behind what transition plans should contain. ◾ Episode 5: Tom Cobbaert and Claudia Harper discuss the intersection between the CSRD and the CSDDD. 📅 Stay tuned for next week’s episodes on due diligence requirements and value chain. #CSDDD #duediligence #humanrights #environment #ESG

📗 The CMA warns fashion businesses that there is ‘no excuse’ for non-compliance with consumer law when using green claims, thanks to new example-based guidance. The guidance offers detailed insights into the CMA’s likely approach in considering the point at which claims become ‘misleading’ and provides a good basis for businesses looking to review consumer compliance policies and associated online choice architecture, in the fashion sector and beyond. The regulator has explicitly warned 17 unnamed businesses to review their business practices before the significant penalties under the DMCC bite, a step which hint at the CMA’s ‘waterfall’ approach of initial enforcement, followed by broader sectoral change in business practices. 👇 Read our blog post to learn more. #sustainability #CMA #consumerlaw #greenclaims

🎉 We are thrilled to have won last night in the ‘Innovative Lawyers in Sustainability & ESG’ category at the Financial Times Innovative Lawyer Awards Europe 2024, for our pro bono work in developing the Sector Transition Acceleration Contract alongside Scope 3 Climate Capital.   We also maintained our overall ranking of 3rd Most Innovative Firm in Europe, alongside being ranked as the highest UK-headquartered firm on social responsibility, and being recognised as ‘Standout’ and ‘Highly Commended’ across our four other shortlisted projects. 💬 Greg B., Global Head of Innovation, commented: "Creativity and innovation for the better of our clients and the world around us is at the heart of what we do. These recognised projects are original and a real testament to the excellence of our people, an innovative mindset which runs throughout in the firm, and our drive to continuously look for new solutions which have impact. It’s wonderful to receive so many accolades for our work across such a broad range of areas. Well done to everyone involved.”   💬 Alex Shopov, Head of ESG Structured Finance, commented: “To reach net-zero, businesses must address “Scope 3” supply chain emissions which, for so many of them, account for the majority of their GHG emissions. We are proud to have won for our groundbreaking approach in aligning incentives in a robust, transparent, contract-based way, using the power of supply chains to work together to unlock private capital and blended finance opportunities for direct investment to facilitate the transition to a low-carbon economy. Working with Scope 3 Climate Capital (S3CC), their partner Impact Delta, and their advisory council on developing the new Sector Transition Acceleration Contract (STAC) has been a rewarding experience, and we look forward to seeing the STAC take off and help lead us to a net-zero future.” Read more on our website 👉 https://lnkd.in/eMRjR84R

💡 The Report on the future of European competitiveness prepared by the former ECB President Mario Draghi calls on the EU to raise investments by €800bn a year to fund radical and rapid reform and avoid "a slow agony". It meant to serve as inspiration for the work of the new European Commission, which is in the process of being assembled. ⬇ In our blog post, we analyse key sustainability issues raised in the Report, from reduction of sustainability reporting burden to expansion of sustainable finance rules to include defence #esg #sustainability #decarbonisation

The third episode in our new ‘EU CSDDD explained’ podcast series is now available. In this episode, Terry Yiangou, Iyesogie Igiehon, Elliot Jack and Elizabeth Webb explore what the CSDDD means for the financial sector, including scoping and application as well as transition plan requirements. 🔉 Listen here: https://lnkd.in/eb9-x9Pn 📅 Stay tuned for next week’s episodes on transition plans and how the CSDDD compares with CSRD. #CSDDD #duediligence #humanrights #environment #ESG