Consumer and employee activism and political pressure at both the global and national levels were combining to force ESG (Environmental, Social and Governance) issues to the top of the board’s and management’s agenda. Having a clear corporate purpose was becoming essential. On 15 April 2021, partners from across Baker McKenzie recrded a webinar on ESG and Litigation Risks, as part of the Demystifying ESG Webinar Series.
On March 31, 2021, the Swiss government amended the list of individuals in Annex 1 to the Ordinance on…
The UK Supreme Court has confirmed that Asda retail employees (who are nearly all women) can continue their claim for equal pay as compared to Asda’s distribution centre employees (who are nearly all men). The fact that they worked exclusively at different sites did not prevent the comparison. The decision removes one potential hurdle for claimants in equal pay litigation.
On 25 March 2021, the UK Government announced further measures targeting the Myanmar regime, adding Myanmar Economic Holdings Public Company Ltd (MEHL) to the Global Human Rights financial sanctions regime for its alleged involvement in human rights violations against the Rohingya. MEHL has been added to the UK Sanctions List and to the Office of Financial…
In brief In two separate appeals concerning the same individual, the Court of Appeal has held that a…
Sustainable Finance as a trend and financing option has grown exponentially and shows no signs of slowing down.…
Trust matters today more than ever before. In the era of fake news, online animus and political polarization, trust is the lens through which people make decisions about what they believe in and value. There is also an undeniable link between trust and sustainable commercial success — the most trusted organizations…
Investors increasingly are directing capital to sustainable investment strategies that reflect environmental, social and governance (ESG) factors. This substantial growth in ESG investing is occurring against the backdrop of an evolving regulatory environment, with different US regulators, such as the Securities and Exchange Commission (SEC) and the Department of Labor (DOL) taking divergent approaches. Given that climate change and racial equality have been identified as key priorities for the Biden administration, we expect a significant shift in the US regulatory approach to ESG, although it may take some time for that regulatory framework to emerge. Meanwhile, the SEC Examination and Enforcement Staff will likely focus their efforts on identifying what they view to be inaccurate or incomplete disclosure on ESG-related issues, and on misconduct involving the management and sale of ESG investment products by asset managers and financial intermediaries.
On March 29, 2021, US Customs and Border Protection (CBP) will publish in the Federal Register a notice of finding that certain…
In brief On 10 March 2021, the European Parliament adopted a legislative initiative report (504 votes in favour, 79 against and 112 abstentions) setting out recommendations to the European Commission (EC) on corporate due diligence and accountability, including a draft directive. The report proposes the introduction of a mandatory corporate due diligence obligation…