ESG
The EU extends the list of environmentally unfriendly behaviour that can be punished under criminal law
Directive 2024/1203 strengthens European environmental criminal law and requires Member states to ensure that such activities are punishable under their laws by 21 May 2026. It also establishes a profuse penalty regime that Member states will have to observe when determining the penalties to be imposed for such conducts.The European Union sets its sights on the complete decarbonization of the building stock by 2050
The new directive on the energy performance of buildings tackles the need to reduce the environmental impact of the building sector, which accounts for 40% of total energy consumption in the EU and 36% of its greenhouse gas emissions.How the EU will limit the sale of commodities that cause deforestation
Barely five months from now, the obligations contained in the European Regulation on deforestation aimed at avoiding the introduction, making available and export of certain commodities and products associated with deforestation and forest degradation, will be applicable in general in the Member States.Regulation seeking to ensure that only products that meet ecodesign requirements can be placed on the EU market has been published
The regulation, which comes into force on July 18, introduces a digital product passport, which enhances traceability and information on sustainability, prohibits the destruction of unsold products and lays down green public procurement requirements in order to boost demand for sustainable products.The CNMV's new guide on audit committees includes new indications on sustainability reporting
The updated document brings the terminology used into line with the provisions of the CSRD Directive, draws a distinction between the roles of audit committees and those of sustainability committees, and offers recommendations regarding the assurance provider, among other questions.New Garrigues Sustainability Report 2023
Just a week ago we celebrated the 22nd anniversary of our accession to the Global Compact. On this noteworthy date, we are presenting the 2023 Garrigues Sustainability Report on the firm’s policies, initiatives, parameters and goals in environmental, social and governance matters relating to the year ended December 2023.CSRD Directive: The CEAOB has prepared draft guidelines on limited assurance engagements in respect of sustainability reporting
The draft of these non-binding guidelines, prepared by the Committee of European Auditing Oversight Bodies (CEAOB) and subject to public consultation until July 22, 2024, addresses important aspects such as the processes necessary to understand and assess how entities determine eligible and ineligible activities and obtain information on the value chain, or the format and content of the limited assurance report itself.The clock starts ticking for companies following approval of the corporate sustainability due diligence directive
The EU act setting out companies’ obligations in relation to the human rights and environmental impacts of their activities is already a reality. Companies are now well advised to familiarize themselves fully with the obligations, and especially, the liability to be faced by the companies included in its scope (and any that will be indirectly impacted).The European Council gives the green light to the directive on companies’ obligations in relation to the human rights and environmental impacts of their activities
At a Competitiveness Council meeting held on May 24, the European Council gave final approval to the corporate sustainability due diligence directive which lays down responsibilities for companies and requires them to adopt and implement a climate change transition plan.ESRS: The consolidated version (including the corrigendum) of the first set of European sustainability reporting standards is now available in EUR-Lex
These standards, which have applied since January 1, 2024, specify the information that companies must disclose on sustainability matters, as well as the uniform manner in which they must present it.