Michael Littenberg’s Post

Ropes & Gray – in conjunction with leading law firms across Europe – has once again updated its monthly CSRD Transposition Tracker. The updated tracker is available through the link below. The Tracker describes Corporate Sustainability Reporting Directive transposition activity across the 27 EU member states and 3 EEA EFTA countries. This update includes information and developments as of October 31, 2024, as well as additional commentary from the participating law firms. So far, 15 countries have adopted legislation implementing the CSRD (at least in part), another nine have proposed legislation and one additional country has held a consultation. Since our last monthly update, Belgium and Poland have introduced implementing legislation. As of October 31, the count is down to five countries that have not launched a consultation or introduced legislation: Austria, Greece, Malta, Portugal, and Iceland. #CSRD #ESRS

Ropes & Gray – in conjunction with leading law firms across Europe – has once again updated its monthly CSRD Transposition Tracker. The Tracker describes Corporate Sustainability Reporting Directive transposition activity across the 27 EU member states and three EEA EFTA countries. This update includes information and developments as of July 31, 2024, as well as additional commentary from the participating law firms. Countries continue to make progress towards implementation. So far, twelve countries adopted legislation implementing the CSRD (at least in part), another ten have proposed legislation and two additional countries have held consultations. In July, Croatia was the only new country to adopt legislation transposing the CSRD. Two other countries introduced proposed legislation: Cyprus and Germany. The count is now down to six countries that have not launched a consultation or introduced legislation: Austria, Belgium, Greece, Malta, Portugal and Iceland. #CSRD #ESRS Marc Rotter Molly Connolly Sam Elliott Peter Witschi

Ropes & Gray – in conjunction with leading law firms across Europe – has once again updated its monthly CSRD Transposition Tracker. The Tracker describes Corporate Sustainability Reporting Directive transposition activity across the 27 EU member states and three EEA EFTA countries. This update includes information and developments as of September 30, 2024, as well as additional commentary from the participating law firms. It also includes information regarding forward incorporation by reference by subsidiaries to consolidated parent company reports, translation requirements and publication requirements. So far, 15 countries have adopted legislation implementing the CSRD (at least in part), another seven have proposed legislation and two additional countries have held consultations. In September, Latvia was the only new country to adopt legislation transposing the CSRD. The count is now down to six countries that have not launched a consultation or introduced legislation (Austria, Belgium, Greece, Malta, Portugal and Iceland). Marc Rotter #CSRD #ESRS

The monthly update of our CSRD Transposition Tracker is now live. In the Tracker, Ropes & Gray – in conjunction with leading law firms across Europe – describes Corporate Sustainability Reporting Directive transposition activity across the 27 EU member states and 3 EEA EFTA countries. This Tracker update includes information and developments as of November 30, as well as additional commentary from the participating law firms. It also includes information regarding forward incorporation by reference by subsidiaries to consolidated parent company reports, translation requirements and publication requirements. So far, 18 countries have adopted legislation implementing the CSRD (at least in part) and another eight have proposed legislation. Since the last update, Greece and Spain introduced implementing legislation and Belgium, Poland and Slovenia approved implementing legislation. The count is now down to four countries that have not launched a consultation: Austria, Malta, Portugal, and Iceland. Notwithstanding those developments, we are closely watching calls and initiatives to amend the CSRD, including through combination with the EU’s Corporate Sustainability Due Diligence Directive and the Taxonomy Regulation. See this post for links to approximately 30 of our other CSRD resources: https://lnkd.in/eTEEDHea Marc Rotter Rebecca Schulga, LL.M. (Stetson Law) #CSRD #ESRS

The recent publication of Law 5164/2024 (Government Gazette A'202) marks the incorporation of Directive (EU) 2022/2464 (also known as #CSRD) into Greek legislation and is a significant step in aligning with the EU's #Sustainability goals. It introduces new reporting requirements for businesses on sustainability practices, and, by adopting the European Sustainability Reporting Standards (#ESRS), the law aims to provide a common framework for businesses, ensuring transparency, enhancing public oversight, and supporting sustainable investments. Law 5164/2024 also includes specific guidelines for companies, such as: ✅Which companies are required to submit Sustainability Reports ✅What information must be included in the reports ✅Which bodies are responsible for ensuring their reliability ✅What penalties are imposed for non-compliance. The implementation of the new Law is expected to ensure business compliance and strengthen the effectiveness of sustainable business practices, while contributing to a more stable and responsible economy. In light of this evolution, it is essential for a Legal Sustainability Analysis to play a crucial role as a necessary tool, focused on the comprehensive assessment of the compatibility of provisions for each activity or project with relevant legal developments at the national, European, and international levels. 📌Find below a codification of the new Law by DTK Law Firm and our Partner Eleftheria Volaki, Associate Eva Koloventzou and Trainee Lawyer Nadia Papaioannou (in Greek). Get in touch with us for more updates and insights into how this Law may affect you! #Sustainability #EUCompliance #BusinessLaw #SustainableInvestments #EnvironmentalLaw #ESG

On 12.12.2024 the Directive (EU) 2022/2464 as regards corporate sustainability reporting (“CSRD”) has been transposed into Greek law with Law 5164/2024 (Government Gazette A 202/12.12.2024). The CSRD significantly expands the scope of Directive 2014/95/EU as regards the disclosure of non-financial and diversity information by certain large undertakings and groups (“NFRD”) and requires all large companies and all listed companies (except listed micro-enterprises), as well as parent companies of large groups and non-EU companies with subsidiaries or branches established in the EU to disclose information on what they see as the risks and opportunities arising from social and environmental issues, and on the impact of their activities on people and the environment. The application of the CSRD will take place with a phased-in approach, based on the companies’ size, starting from 2025 for listed large companies and listed companies, which are parent companies of large groups. #CSRD #newsflash #KGLawFirm

Today, the EU Parliament has formally adopted the Corporate Sustainability Due Diligence Directive (CSDDD). This is an essential step toward the final approval of this landmark law that promises to help companies respect internationally recognized human rights and achieve environmental targets and goals. Although the Directive applies only to large EU and non-EU companies generating over 450m in turnover (globally or in the EU), its impact will be felt across global supply chains as companies in scope inspect their operations and turn to their direct and indirect business partners to identify, assess, and address human rights and environmental harms connected to their activities. CSDDD’s risk-based due diligence approach aligns with the OECD Guidelines and the UN Guiding Principles on Business and Human Rights and marks a major milestone in the global advancement of efforts to harmonize responsible business conduct standards. From our experience working with companies to implement due diligence in line with international standards, a few provisions of the CSDDD stand out as meriting particular attention from companies that are early in their sustainability journey: ✔️ Full supply chain is in scope. Companies will have to adopt a risk-based approach to managing supply chain impacts by mapping and testing the effectiveness of supplier risk management systems to identify areas where adverse impacts are most severe and likely and deepen assessments of those areas. ✔️  Meaningful affected stakeholder consultation is essential throughout the due diligence life cycle. To achieve genuine interaction and dialogue, companies will need to innovate their approach to engagement. They must provide consulted stakeholders with comprehensive information, ensure consultations are ongoing, address barriers to engagement, and ensure stakeholders are free from retaliation and retribution. ✔️ Environmental due diligence to assess and prioritize environmental impacts based on their severity and likelihood is necessary. Companies are also required to address the relationship between environmental degradation and human rights harm. This will require fostering greater alignment and collaboration between environmental and human rights teams.   As the Directive moves through its final stages of approval, watch out for the following dates: ▶️  15 May: EU ambassadors in COREPER will formally approve the text ▶️  23 May: EU Ministers will give the final political approval during the COMPET Council meeting Stay tuned for future insights from BSR on sustainability due diligence to support alignment of business practices with these ambitious requirements. https://lnkd.in/e55m5skg #CSDDD #bizhumanrights #sustainablebusiness #regulatoryaffairs #duediligence Paloma Muñoz Quick Alison Berthet

The long-awaited French antitrust notice on sustainability projects🚨 On 27 May, the FCA published its notice on antitrust informal guidance on sustainability projects. 🇫🇷 The tool is part of the FCA’s « open-door » policy aiming at encouraging stakeholders to reach out to the FCA in case of doubts on the compatibility with competition law of their sustainability projects. 🌳 Following the public consultation in December 2023, the FCA has improved the draft notice to create a more flexible procedural tool broader in scope. Have a look at the article below Pierre Zelenko, Victoria Vickers and I have drafted ⬇️ and feel free to reach out should you have any questions 🙋♀️🙋♂️ Linklaters Paris #antitrust #competition #sustainability #FrenchCompetitionAuthority #collaboration #informalguidance

ESG is a top priority seemingly everywhere nowadays, including in the competition law sphere. CRT Partner Marcel Nuys and Senior Associate Anne Eckenroth have written an article for Global Competition Review exploring how the EU competition law regime addresses sustainability co-operations, before looking in more detail at the German regime and the approach adopted by the German competition authority in its assessment of sustainability arrangements in practice. #esg #competitionlaw #sustainabilityarrangements

Ropes & Gray – in conjunction with leading law firms across Europe – has published another update to its monthly CSRD Transposition Tracker. The Tracker describes Corporate Sustainability Reporting Directive transposition activity across the 27 EU member states and three EEA EFTA countries. This update includes information and developments as of December 31, 2024, as well as additional commentary from the participating law firms. It also includes information regarding forward incorporation by reference by subsidiaries to consolidated parent company reports, translation requirements and publication requirements. The updated tracker is available through the link below. So far, 20 countries have adopted legislation implementing the CSRD (at least in part) and another six have proposed legislation. Since the last update, Greece and Estonia approved implementing legislation. The count is now down to four countries that have not launched a consultation: Austria, Malta, Portugal and Iceland. Notwithstanding these developments, we continue to closely watch the omnibus process to amend the CSRD. #ESG #CSRD #ESRS Marc Rotter