ESG

  • Garrigues Sustainable Newsletter - January 2025

    In this newsletter we compile the most relevant legal news on ESG matters in Spain, published by Garrigues and G-advisory.

  • The European Commission presents a Competitiveness Compass, which will simplify the regulatory burden of sustainability reporting, due diligence and taxonomy

    One of the targets of the Competitiveness Compass, which will guide the Commission’s work over the next five years, is to reduce the regulatory and administrative burden drastically. In this context, the Omnibus proposal, expected in February, will be designed to simplify the sustainability reporting, due diligence and taxonomy.

  • Public and private sector coordination is essential to achieve the set sustainability targets

    In a new edition of Garrigues Sustainable Dialogs we looked at present and future challenges related to ESG and natural resources in the Madrid region.

  • Garrigues once again places first in the Merco Responsibility ESG ranking

    For another year, the firm has ranked the highest of among the 100 most responsible companies in Spain according to this ranking, and has renewed its presence in the Governance ranking.

  • EU strengthens disclosure of ESG risks in credit institutions with new requirements

    Commission Implementing Regulation (EU) 2024/3172 introduces new obligations for credit institutions, which will have to disclose half-yearly information on environmental, social and governance (ESG) risks, as well as on the impacts of climate change. This regulation, applicable from January 2025, aims to improve transparency and consistency in prudential risk management.

  • European Green Bonds are here and come with new post-issuance reporting standards

    The regulation establishing a standard for issuers using the designation 'European Green Bonds' (EuGB) is now in effect, but the legislative process is not yet complete: a new delegated regulation, currently under consultation, details all the post-issuance information that must be provided.

  • EU strengthens sustainability in the insurance sector with new risk management obligations

    A new European directive introduces the concepts of "sustainability risk" and "sustainability factors" into the risk management of (re)insurers, obliging them to integrate them into their systems and strategic plans. It also relaxes disclosure requirements for small insurers.

  • The EU Packaging and Packaging Waste Regulation has been definitively approved

    The aim is to address the increase in packaging waste in the EU, boost the circular economy and increase the rules governing the internal market for packaging.

  • The Official Journal of the European Union publishes the Regulation on prohibiting products made with forced labor on the Union market

    The regulation will include the possibility for the competent authorities to prohibit the placing and making available on the Union market of products made with forced labor or exporting such products. It may also require companies to withdraw and dispose of these products.

  • The EU sets out the basis for ESG ratings in finance

    A new regulation introduces the requirements to be met by ESG rating providers as well as the regulated financial undertakings using them and seeks to enhance their reliability and comparability.