The Belgian government adopted a bill which makes significant changes to the Belgian investment deduction regime that will take effect as of FY 2025. The changes will make this tax incentive significantly more attractive given the current economic environment and climate policies. In this webinar, we discussed the changes in the investment deduction regime that are relevant for your companies, with specific attention to the important new “thematic” investment deduction of 30% and the “technology” deduction that can go up to 20.5% of your investment cost.
In the case concerning a matter of unfair discrimination under the Employment Equity Act, the South African Labor Court ruled that, in this instance, the refusal to employ a job applicant because of their criminal history was unfair discrimination based on arbitrary grounds. This case serves as a reminder to employers that statutory protection against unfair discrimination also applies to employment applicants, and that there are risks in the rote reliance on factors used to select or reject staff.
On 14 May 2024, the European Securities and Markets Authority (ESMA) published guidelines on fund names using environmental, social and governance (ESG) or sustainability-related terms. The main purpose of these guidelines is to enhance investor protection with regard to funds named in ways suggesting an investment focus in companies that meet certain sustainability standards. Against this backdrop and after the public consultation launched on 18 November 2022, ESMA clarifies what investors may expect in terms of policies, practices and characteristics of funds consistent with sustainability standards, as also the circumstances where a fund name with ESG or sustainability-related terms is indicative of unfair, unclear or misleading practices.
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.
The employment tribunal ruled that a Christian actor was not discriminated against because of religion or belief when she was dismissed from the role of a lesbian character and her agency terminated her contract following a social media storm after an old Facebook post was discovered saying that she believed homosexuality to be a sin.
Excerpt: This alert provides an overview of the Australian Government’s proposed regime in respect of mandatory climate-related financial disclosure. It addresses potential liability for directors of life sciences and biotechnology companies in such disclosure.
Rising investor expectations have spurred a global push for publicly listed companies to disclose comprehensive sustainability information. As a result, regulatory bodies worldwide are either mandating or strongly recommending the issuance of sustainability reports by PLCs, focusing on environmental, social, and governance factors. The integration of ESG disclosures with financial reporting enables investors to evaluate more accurately the financial outlook and management effectiveness of PLCs, a trend strongly supported by regulators.
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.