Sustainability

Recent Articles

•  

  15/05/2024

  Luxembourg

  The European Commission reports on the open and targeted consultations on the SFDR assessment

  BackgroundThe Sustainable Finance Disclosures Regulation (SFDR[1]) applies since March 2021 with a view to providing transparency to investors about the sustainability risks associated with their investments and potential adverse impacts such investments have on the environment and society.On 14 September 2023, the European Commission (the EC) published two consultation papers on SFDR. On the one hand, an open consultation on the practical implementation of SFDR aimed at a broader range of stakeholders with a more general knowledge of SFDR (the Open Consultation). On the other hand, a target consultation...

  Read more
•  

  14/05/2024

  Hungary

  EU introduces criminal offences and penalties for sanctions violations

  Criminal offencesUnder the Directive, the following conduct constitutes a criminal offence when committed intentionally and in violation of restrictive measures or a national provision implementing restrictive measures:making funds or economic resources available directly or indirectly to, or for the benefit of, a designated person, entity or body;failing to freeze funds or economic resources belonging to or owned, held or controlled by a designated person, entity or body;enabling designated natural persons to enter into, or transit through, the territory of a EU member state;entering into or continuing...

  Read more
•  

  09/05/2024

  Scotland

  Facilitating Marine Restoration – How Best to Ensure Success

  Marine restoration activities have been highlighted in the press recently particularly the successful oyster restoration project in the Firth of Forth. So far many restoration projects in Scottish waters are principally small projects led by communities that seek to (re)create a habitat or introduce a previously decimated species. It has been highlighted to the Scottish Government by those looking to initiate larger scale restoration projects that there are two key challenges to a project’s namely: (i) a complicated consenting process which does not specifically cover restoration; and (ii)...

  Read more
•  

  29/04/2024

  United Kingdom

  Food Advertising and Environmental Claims: A Balancing Act for Businesses

  The Advertising Standards Authority (ASA) has published a report on its research into consumer understanding of environmental claims in food advertisements (Environmental claims in food advertising - ASA | CAP). While some of the findings are unsurprising, they also reveal important insights into inferences consumers draw from different kinds of claims, and challenge the view that reducing their environmental impact is a primary focus for consumers who respond to environmental claims. Businesses should:Take care with the implications of their claims, which may be unexpected;Use clear and specific...

  Read more
•  

  17/04/2024

  England and Wales

  AI-driven enforcement comes of age in UK with AI systems reshaping advertising and regulation and enforcement – ASA’s 2023 Annual Report

  The UK’s Advertising Standards Authority (ASA) has published its 2023 annual report, describing 2023 as a watershed year for its digital strategy.Together, the ASA and the Committee of Advertising Practice (CAP) secured the amendment or withdrawal of 27,378 ads in 2023, a remarkable 92% of which resulting from proactive work largely powered by the ASA’s Active Ad Monitoring System. In December 2022, the ASA ran 20,000 ads through the system, which rose to over 600,000 ads per month by the end of 2023. This system forms a key part of the ASA’s 2024 to 2028 strategy on AI-assisted...

  Read more
•  

  15/04/2024

  Luxembourg

  Bill of law for the transposition of CSRD in Luxembourg

  IntroductionFollowing the adoption of the corporate sustainability reporting directive:1 (the “ CSRD ”), the Member States of the European Union (the “ EU ”) are required to implement its relevant provisions into their national laws and regulations by 6 July 2024. At the date of this publication, only France, Hungary, Romania, and Czech Republic implemented CSRD into their national law. In this context, the long-awaited Luxembourg Bill of law 8370 was introduced before the Luxembourg Chambre des députés on 29 March 2024 (the “ Proposal”).To...

  Read more