The EU Corporate Sustainability Reporting Directive (“CSRD“) entered into force on 5 January 2023 and the associated European Sustainability Reporting Standards (“ESRS“) were adopted by the European Commission on 31 July 2023. Together, the CSRD and ESRS create detailed sustainability reporting requirements that will apply to a significant number of EU
Musonda Kapotwe
Greenwashing: Navigating the Risk
The risk of an accusation of “greenwashing” is now an important concern for many companies. Greenwashing is an ill-defined concept but, nevertheless, is increasingly a source of litigation and regulatory scrutiny – with more of both expected. It carries with it reputational, regulatory and litigation risks for which companies should be prepared. Whilst the risks…
Alert – Council of the EU and European Parliament Reach Provisional Agreement on European Green Bond Standard
On 28 February 2023, the Council of the European Union and the European Parliament reached a provisional agreement on the creation of the European Green Bond Standard (“EU GBS“).
Background
The idea of an EU Green Bond Standard has been in development for many years. An initial proposal for a European standard for green bonds…
EU Corporate Sustainability Reporting Directive – new sustainability disclosure obligations for EU and non-EU companies
On 10 November 2022, the EU Parliament adopted the Corporate Sustainability Reporting Directive (“CSRD”). The EU Council is expected to adopt the CSRD on 28 November 2022, after which it will be published in the Official Journal. The CSRD will then enter into force 20 days after publication and EU member states will have 18…