On 18 October 2023, the Monetary Authority of Singapore issued a set of consultation papers proposing guidelines on transition planning by banks, insurers and asset managers to enable the global transition to a net-zero economy.
In this article originally published in Risk & Compliance Journal written by Baker McKenzie employment and financial services regulatory experts, we explore the diversity and inclusion proposals recently put forward by the UK financial services regulators.
Join us on 18 January 2024 as our Baker McKenzie experts – joined by Adam Jacobs Dean of AIMA and other industry specialists – explore the continuing evolution of ESG regulation and compliance challenges that firms can expect to encounter in the new year. This session will focus on the FCA’s new ESG product labelling regime (the “SDR”), upcoming changes to the EU’s SFDR regime, and emerging best practices in ESG governance.
The Canada Border Services Agency (CBSA) has recently provided public comments to industry professionals concerning its enforcement plans related to the importation of goods suspected to be mined, manufactured, or produced with forced or child labor.
Canada implemented an import prohibition on goods mined, manufactured or produced wholly or in part by forced labor as of 1 July 2020, when Parliament amended the Customs Tariff (tariff item no. 9897.00.00) to reflect Canada’s new obligations under the USMCA (Article 23.6: Forced or Compulsory Labor).
The Competition and Consumer Commission of Singapore (CCCS) is developing a set of guidelines to provide greater clarity to suppliers on the environmental claims that could amount to unfair practices under the Consumer Protection (Fair Trading) Act, after a study found that one in two products sold online overstated their environmental claims.
Inclusion and diversity are key factors today. As gender, racial, and ethnicity pay gaps have been slow to narrow, governments in Latin America have introduced more requirements to further reduce these differences.
In this quick overview, the Employment & Compensation group presents recent trends in pay equity in Latin America, highlighting critical issues to consider for your day-to-day decision-making.
This alert discusses the Commission’s most recent consultation on the EU Sustainable Finance Disclosure Regulation (SFDR), which provides the market with a roadmap as to how the SFDR regime is likely to evolve; considers weaknesses in the current regulatory framework; and invites market views on some of the more controversial aspects of the regime.
The new EU Deforestation Regulation (2023/1115/EU) will impose due diligence obligations from 30 December 2024 aimed at tackling deforestation and forest degradation. The Regulation will require companies dealing in in-scope products to undertake due diligence into the source of a wide range of commodities, including cattle, cocoa, coffee, palm-oil, rubber, soya and wood, to ensure that they have not been obtained as a result of deforestation.
On 18 October 2023, the Monetary Authority of Singapore (MAS) issued a set of consultation papers proposing guidelines on transition planning by banks, insurers and asset managers (“TP Guidelines”) to enable the global transition to a net-zero economy. The TP Guidelines set out MAS’ supervisory expectations for the in-scope financial institutions to have a sound transition-planning process to enable their customers and investee companies to take effective climate change mitigation and adaptation measures when dealing with the global transition to a net-zero economy and the expected physical effects of climate change.
In this final part of the series, we will look at the Draft Waste Electrical and Electronic Equipment Management Act. The development of a legal framework for the management of waste from electrical and electronic equipment (WEEE) has been discussed and studied in Thailand for almost two decades. However, despite existing general environment-related laws, such as the NEQA, the Hazardous Substance Act, B.E. 2535 (1992), and the Factory Act, B.E. 2535 (1992), there is currently no specific Thai law governing WEEE management in a systematic and sustainable way.