A series of briefings that take a bite-size look at international trends in different jurisdictions, drawing on Baker McKenzie’s expert financial services practitioners with local market knowledge. This edition takes a bite-size look at the latest environment, social and governance developments in Brazil, the European Union, Belgium, Hong Kong SAR, Japan, Singapore, Thailand, and the United Kingdom.

Two new regulations were published on 13 February 2023. The regulations, which directly impact the business sector, are the following: (i) Federal Decree No. 11,413/2023, which established three new reverse logistics credit certificates at the federal level: the Reverse Logistics Recycling Credit Certificate, the Certificate of Structuring and Recycling of Packaging in General and the Future Mass Credit Certificate; and (ii) Federal Decree No. 11,414/2023, which reinstituted and reformulated the pro-scavengers program, subject of former Federal Decree No. 7,405/2010, revoked in 2020.

On 1 February 2023, State Decree No. 112/20231 was published, establishing the take-back requirements system for packaging in the state of Mato Grosso. The decree is the first specific regulation on the subject in MT, regulating the state policy for solid waste (Law No. 7,862/2002) in this regard.

On 17 January 2023, State Decree nº 16,089/20231 was published, establishing and updating the take-back requirements system for packaging in the state of Mato Grosso do Sul. In summary, the decree becomes the new regulatory standard on the take-back requirements system for packaging in the state.

IBAMA Directive No. 16, which became effective on 5 December 2022, introduced a system for Forestry Traceability Source Document (DOF+)as a tool for issuance, management and monitoring of mandatory licenses for the transport and storage of forestry products from native species in Brazil.

Baker McKenzie and Trench Rossi Watanabe* were again on the ground at this years’ COP27 conference held in Sharm-el-Sheik. The team led a three-part webinar series focused on developments and impact of this year’s COP on emerging markets and key takeaways following the event, which they note had a strong focus on implementation.

Across sectors and industries, from start-ups to multinationals, companies everywhere are talking about their sustainability credentials — and in particular, their intention to reach net-zero. Businesses have recognized that a net-zero pledge can be a powerful public message, in the face of growing pressure to tackle the climate crisis and an expectation that business be part of the solution. But amidst all the rhetoric, how much progress are we really making? Are we on course to reach net-zero by 2050, or are businesses simply jumping on the bandwagon on the road to net nowhere? We surveyed 1,000 business leaders to find out more.

On 24 October 2022, CETESB published Board Decision No. 106/2022/P, which establishes the new procedures to be observed within the scope of administrative proceedings for issuing Technical Opinions related to contaminated areas.

The Brazilian Institute of Environment and Natural Resources opened a public consultation regarding a new normative that regulates the control of corporate emissions and the management of pollutant emission credits for the Vehicle Emission Control Program’s L8 phase. The public consultation is in accordance with CONAMA Resolution No. 492/2018, which established the Proconve L7 and L8 phases, and aims to obtain input from stakeholders who will be involved in Proconve L8.

Baker McKenzie, Trench Rossi Watanabe*, ICC UK and ICC Brasil present “COP Casts”, a series of interviews exploring climate change issues with experts representing a wide range of industries. Discussions on opportunities, complexities and challenges related to carbon markets in particular will introduce our audience to some of the topics that will be centre-stage at the upcoming 27th United Nations Climate Change Conference (COP27) in Sharm El-Sheik, Egypt, from 6 to 18 November 2022.

*Trench Rossi Watanabe and Baker McKenzie have executed a strategic cooperation agreement for consulting on foreign law.