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On Wednesday 29 May 2024, the Swedish Parliament voted to adopt a bill to transpose the EU Corporate Sustainability Reporting Directive (CSRD) into local law. The new reporting requirements will enter into force on 1 July 2024 meaning that companies will have to report pursuant to the CSRD for the first time for the fiscal year beginning after June 2024. Accordingly, all companies with a calendar year as fiscal year will have to apply the legislation for the first time for FY2025.

The European Court of Human Rights (“ECtHR”) has ruled on a case brought against Switzerland by the Swiss association KlimaSeniorinnen on behalf of its members and four individual women of the association. The ECtHR found that Switzerland has violated Art. 8 of the European Convention on Human Rights by failing to take timely and sufficient action to adopt and implement relevant legislation and measures to mitigate climate change. The ECtHR also held that, from a procedural perspective, Switzerland failed to grant effective access to court to challenge the insufficient implementation of mitigation measures. In this contribution, we summarize the background of the case and the ECtHR’s decision and analyze its possible impacts.

In our final week of the Annual Compliance conference, we focussed on key issues being faced by companies on ESG, supply chain and product compliance. Specifically, we discussed the new legal landscape in the EU and UK on product compliance and liability, supply chain due diligence trends and developments, and how to manage environmental, social and governance risks and increasing legislation in the US, UK and EU aimed at cracking down on vague, misleading, or unsubstantiated green claims.

On 3 May 2024, Supreme Decree No. 004-2024-MINAM was published, amending the Regulations of Law No. 27446 (Law of the National Environmental Impact Assessment System (SEIA)). Its purpose is to standardize criteria for processing environmental certification requests and to promote the environmental impact assessment (EIA) procedure when binding technical opinions and observations are delayed.

On 23 April 2024, the Senate of the Province of Mendoza (“Province”) approved the reform of the Mining Procedures Code (MPC), incorporating international control standards to promote sustainable mining in the Province. The text indicates that it will become effective 15 days after it is published in the Official Gazette of Mendoza. The modifications grant the Province more control powers and prerogatives, as well as more influence.

As Australia transitions to net zero, the 2024-25 Australia federal budget handed down on 14 May 2024 contains significant initiatives relating to renewable energy, hydrogen, critical minerals, green metals, low carbon liquid fuels and clean energy technology, with the AUD 22.7 billion “Future Made in Australia” package as a centerpiece. Through new or additional incentives and other funding, the Australian Government aims to attract investment in key industries for the energy transition and make Australia “a renewable energy superpower” as well as add value to the resources sector, particularly critical minerals, and strengthen economic resilience and security.

Now in its third edition, Baker McKenzie’s Global Sustainable Buildings Guide provides an updated overview of key topics that will be relevant to you on your journey to net-zero. Written by our Real Estate experts from across the globe, the Guide takes a comparative look across 34 jurisdictions at issues such as: certification models that are recognized in different jurisdictions; energy performance standards; available government subsidies and national targets; and regulatory measures and risks.

On March 7, 2024, Public Safety Canada updated its Guidance on the application of Fighting Against Forced Labour and Child Labour in Supply Chains Act (Supply Chains Act). Businesses operating in Canada are encouraged to review the key changes summarized below to confirm that their assessment of reporting obligations continue to align with Public Safety Canada’s Guidance. The deadline for submitting reports under the Supply Chains Act is 31 May 2024.

The European Commission launched the European (EU) Green Deal in 2019. The EU Green Deal is a package of policy initiatives, one of which is a commitment to tackle false environmental claims by requiring that consumers receive reliable, comparable, and verifiable information to enable them to make more sustainable decisions and reduce the risk of greenwashing.