The EU has politically agreed on the adoption of the Corporate Sustainability Reporting Directive, and will likely adopt it before the end of 2022. The CSRD will overhaul the current sustainability reporting landscape for all multinational companies with significant activities in the EU, including those headquartered outside the EU. The reporting obligations of the CSRD will progressively come into force between 2024 and 2028.
Following the UN Climate Change Conference in Glasgow (COP26) in November 2021, almost 200 countries, including Thailand, announced their climate goals and made commitments to tackle climate change. Thailand has pledged to be carbon neutral by 2050 and reach net-zero greenhouse gas emissions by 2065. To support the government’s policy in this direction, various government agencies and public organizations, such as the Thailand Greenhouse Gas Management Organization, have been actively progressing efforts to realize Thailand’s sustainability goals through various schemes and measures that they are empowered to do under the relevant laws.
Governance plays a key role in protecting a company from undesirable misconduct and may help to mitigate some of the consequences of non-compliance, whether in terms of civil or criminal liabilities of the company itself or its board of directors.This article explores ESG from the corporate governance and management perspective.
From 2026, pure battery electric vehicles (BEVs) must be equipped with certain levels of advanced driver-assistance systems (ADAS); otherwise, excise tax rates will be higher. The Royal Gazette has published several notifications of the Excise Department regarding BEVs recently. The Notifications have introduced the ADAS requirements as a new condition to apply lower excise tax rates on BEVs along with detailed requirements on the use of domestically manufactured batteries.
Argentina has passed Resolutions AFIP 16/2022 and 19/2022 to create a “Vaca Muerta” customs corridor. The purpose of these resolutions is to accelerate the customs clearance process for imports of goods to be used in the construction of the “Gasoducto Presidente Néstor Kirchner” gas pipeline as well as in the development and exploitation of the Vaca Muerta oilfield. Once the resolutions are implemented, they will substantially reduce the amount of time it takes to import covered goods.
The implementation of the Polish Hydrogen Strategy, adopted by the Polish government in November 2021, naturally requires a number of legislative actions aimed at the creation of a stable regulatory environment. This should remove barriers to the development of the hydrogen market and encourage a gradual increase in investments in this sector.
On 7 October 2022 the Malaysian Minister of Finance tabled the Budget 2023 which covers the following 3 agendas, each supported by the agenda’s individual core focus and strategies:
• Responsive Budget – to expand fiscal policy
• Responsible Budget – to ensure financial sustainability of the Government
• Reformist Budget – to implement reforms and enact policies that could adapt to new norms
The comprehensive list of objectives within the Budget 2023 among others, is to strengthen economic recovery post COVID-19 and numerous incentives and action plans had been laid out to achieve these objectives. This alert focuses on the Budget 2023 highlights that would have an impact on the projects and infrastructure industries in Malaysia.
Current global geopolitical changes have opened up new prospects for Algeria. On the one hand, Algeria is being courted by Europe and redoubling its efforts to increase its energy offering to reap record profit amid high gas prices. On the other hand, additional gas revenues offer opportunities for Algeria to develop the local industry in order to reduce its dependence on imports and fossil energy in the long term, and create jobs and technological partnerships. But can Algeria effectively create a competitive and business-friendly climate to attract foreign investors?
The year 2022 marks a noteworthy year for a quantum leap in Thailand’s electric vehicle market. Against the backdrop of Thailand’s commitment to carbon neutrality and net-zero greenhouse gas emissions at COP26, combined with the unexpected uncertainty in oil and gas prices, Thailand’s EV market has accelerated to a new peak. Providing that the 30@30 goal under the national EV roadmap (i.e., to raise the proportion of zero-emission EVs to 30% of all domestic vehicle production by 2030) goes as planned, we take a look at what to expect in Thailand’s EV space, along with what has been happening during the first half of 2022.
Following years of market domination by the conventional automobile industry, EV technology is now emerging as an environment-friendlier alternative, opening up various new opportunities for businesses as well as consumers all around the world. EV development permeates the whole chain of the present automotive industry, from the manufacturing and distribution sectors to subscription and ride-sharing or ride-hailing businesses. To operate an EV business in Thailand, there are certain legal concerns you need to take into account.