Environmental, Social and Governance (ESG)

Climate change and sustainability are set to be defining issues of this decade. CMS is committed to addressing our own impact on the environment and approach to sustainability, as well as advising clients with their related legal needs.

The shift to a sustainable energy sector and the decarbonisation of existing energy systems, agrowing market for sustainable investments, increased focus on ESG criteria in urban planning, tax reforms and sustainability incentives to reach climate goals – these are just a few of the developments that are shaping the business environment.

Our teams are helping clients to navigate this rapidly evolving legal and regulatory landscape and advising on first-of-their-kind deals.
 

To find out how CMS can support you and your business with ESG click here >>

Recent Articles

  •  
    15/08/2024
    United Kingdom

    Disability inclusion: reasonable adjustments in practice

    This is the second in our series on the duty to make reasonable adjustments, looking at supporting employees with disability as part of an “S” in ESG strategy. Part one covered the legal framework and statutory definitions. This Law-Now works through some of the challenges employers experience when considering adjustments, drawing on examples from case law.DisabilityTo recap, the duty to make reasonable adjustments only arises if an individual meets the legal definition of “disability” under s.6 of the Equality Act 2010, and the employer has actual or constructive knowledge...
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  •  
    07/08/2024
    EU

    The ESAs provide additional clarifications under SFDR

    On 25 July 2024, the European Supervisory Authorities (the “ESAs”) published an updated version of the consolidated questions and answers (the “Q&As”) on the Sustainable Finance Disclosure Regulation[1] (the “SFDR”).The updated Q&As clarify, inter alia, elements related to (i) the responsibility of registered AIFMs regarding the Article 10 SFDR requirements, (ii) the assessment and measurement of “sustainable investments” under Article 2(17) SFDR, (iii) the calculation of investments aligned with the EU Taxonomy and of principle adverse impact...
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  •  
    01/08/2024
    EU

    ESMA’s long-term vision on the functioning of the Sustainable Finance Framework

    A few weeks after the publication of the European Supervisory Authorities’ (the “ESAs”) joint opinion on the Sustainable Finance Disclosure Regulation (the “SFDR”)[1], the European Securities and Markets Authority (“ESMA”) published, on 24 July 2024, an opinion reflecting its long-term vision on the Sustainable Finance Regulatory Framework (the “Opinion”).The Opinion provides suggestions, proposals for amendments and insights on the current challenges of the regulatory framework applicable to sustainable finance (the “Framework”)....
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  •  
    01/08/2024
    Ukraine

    Ukraine approves new National Energy and Climate Plan

    On 25 June 2024 the Cabinet of Ministers of Ukraine approved the National Energy and Climate Plan (NEC Plan) for the period up to 2030 as part of Ukraine's effort to achieve EU climate neutrality targets through a national energy climate plan that combines EU initiatives and national policies that reduce greenhouse gas emissions and develop the renewable energy sector.The NEC Plan, a strategic document aimed at harmonising Ukraine's energy and climate policies to ensure sustainable development and economic recovery, was developed as part of Ukraine's obligations within the framework of the Treaty...
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  •  
    29/07/2024
    EU

    The management of ESG risks by credit institutions pursuant to CRD VI

    CRD VI Directive sets out further requirements regarding credit institutions’ practices for managing ESG risks.On 9 July 2024, the new Capital Requirement Directive n°2024/1619 of the European Parliament and of the Council of 31 May 2024, amending Directive 2013/36 as regards supervisory powers, sanctions, third-country branches and environmental, social and governance risks (“CRD VI” or the “Directive”), pursuing the implementation of Basel III in the European Union (“EU”) entered in force. Member States are required to implement the Directive by 10...
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  •  
    19/07/2024
    EU

    Commission Delegated Regulation on sustainability disclosures for STS securitisations enters into force

    IntroductionThe Commission Delegated Regulation, supplementing Regulation (EU) 2017/2402 (the “Securitisation Regulation”[1]), entered into force on 8 July 2024 (the “Commission Delegated Regulation” [2]). It provides for regulatory technical standards (“RTS”) on the content, methodologies and presentation of information related to the principal adverse impacts of the assets financed by the underlying exposures on sustainability factors for (a) simple, transparent and standardised (“STS”) non-ABCP traditional securitisation, and for (b) STS on-balance-sheet...
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ESG – Environmental, social and governance

We help you identify risks and opportunities arising from the increasing...

CMS Expert Guide to ESG Compensation

Incorporating ESG KPIs into directors’ remuneration