Our knowledge resources reflect the breadth and depth of our expertise, our insight into the issues which matter to your business, and our understanding of the markets in which you operate.
Despite the significant body of scientific research indicating that we are reaching a tipping point in the global fight against the damaging effects of climate change, global carbon output continues to climb. However, there is growing international consensus around the need for urgent action to reverse the effects of climate change.
The parent companies of global organisations are increasingly facing attempts to hold them to account before the English Courts for human rights, environmental or other violations of ethical business practices allegedly committed by their overseas subsidiaries. These claims often take the form of mass tort group actions, carrying substantial potential financial liability.
The Australian superannuation fund Rest has agreed a settlement in a landmark case, acknowledging that "climate change could lead to catastrophic economic and social consequences and is an important concern of Rest's members", and that it is "important to actively identify and manage" that risk.
In December 2020, the BBC reported that black workers at Lloyds Bank earn a fifth less than other colleagues. According to the bank, the discrepancy is because they "are disproportionately under-represented at senior levels".
The employee in this case had worked as an engineer for the employer for many years. Having previously identified as male, from 2017 onwards, the employee identified as gender fluid and non-binary, and generally dressed in female clothing.
"You don't need to have 20/20 vision to see that the year ahead will be challenging…"
The Department for Business, Energy and Industrial Strategy ("BEIS") has published its Final Report: Frameworks for standards for non-financial reporting ("NFR") (the "Report") which sets out the preferences of key U.K. stakeholders around NFR standards. Whilst established reporting standards and accounting principles for financial reporting are available to businesses, the Report notes there is no equivalent for NFR despite there being a number of key drivers for the publication of this information (set out below) and so, although the purpose of this research is not to endorse a specific framework, BEIS hopes that it may support future studies exploring potential changes to policy in this area.
The Investment Association has published a Climate Change Position Paper (the "Paper") which represents the stance of the investment management industry on climate change. The Paper sets out the industry's commitment to climate action, including working with the UK Government to accelerate change and bolster the UK's position as a global leader in sustainable finance.
Derivatives & Structured Products Partner, Jonathan Gilmour, and Pensions Partner, Andy Lewis, have jointly contributed to the recently published International Comparative Legal Guide on Environmental, Social & Governance Law 2021, with a chapter on the economic rationale behind ESG investment and the key challenges and opportunities which flow from ESG-related pensions law and regulation
This series of bitesize videos will be a chance to hear from various members of the Real Estate team on need-to-know updates and topical issues in the sector.
A regular briefing for the alternative asset management industry.
The TCFD (Task Force on Climate-related Financial Disclosures) has launched a consultation on the development and use of forward-looking climate-related metrics by the financial sector.
Writing for Practical Law, Senior Counsel John Buttanshaw and Partner and Head of Risk & Operational Regulatory Doug Bryden, take a look at how environmental, social and governance (ESG) issues may arise and be addressed in transactions, with a particular focus on private equity mergers and acquisitions.
It has been just over a week since Chancellor Rishi Sunak made a statement to Parliament setting out the Government's approach to financial services following the UK's imminent departure from the EU on 31 December; a statement that has since sparked much debate, intrigue and (cautious) excitement in the fintech, market infrastructure and payments space.
A regular briefing for the alternative asset management industry.
The UK Government today set out its ambitious ten point plan for the Environment, covering clean energy, transport, nature and innovative technologies.
The UK government and regulators have jointly announced their approach to implementing the recommendations of the Taskforce on Climate-related Financial Disclosures within the next five years. Notable by its absence is any explicit mention of the EU Sustainable Finance Disclosure Regulation which comes into force in March 2021.
The Government has introduced a cap on public sector exit payments which took effect from 4 November 2020. Under the cap, payments by a public sector body in respect of an employee's termination of employment must not exceed £95,000 in total for that employee.
The Department of Work and Pensions (DWP) recently consulted on the introduction of new duties that will require pension scheme trustees to have in place effective governance, strategy, risk management and accompanying metrics and targets to assess and manage climate risks and opportunities in their schemes.