In a historic first, last month, the Financial Conduct Authority (FCA) confirmed that it had opened a climate-related enforcement investigation against a company. This information was provided in response to a freedom of information request by legal activist organisation ClientEarth. It represents a key milestone on the path to joining regulators in the US, Germany […]
The Advertising Standards Agency (ASA) and latterly the Competition and Markets Authority (CMA) have been leading the UK regulatory charge with respect to policing claims relating to the sustainability characteristics of products and services. However, the Financial Conduct Authority (FCA) now appears to be picking up the baton. What is the anti-greenwashing rule? The FCA […]
ESG-related legislation and regulation are increasingly a focus for companies operating internationally. Scanning the horizon for new developments and adapting their business practices accordingly will be key to ensuring compliance, especially in the face of diverse and ever-changing requirements. In this article for The World Financial Review, Maria Cronin and Fred Kelly discuss why there […]
Companies that operate internationally face complex ESG-related challenges and potential exposure across multiple jurisdictions. Their business practices and models must therefore be adapted to comply with the developing rules and regulations, such as the newly passed EU Corporate Sustainability Due Diligence Directive, in all the countries in which they operate. In this article for European […]
As 2030 and 2050 edge closer – key milestones under the UK government’s net zero strategy – UK businesses and regulators are under increased pressure to ensure the information that businesses provide to stakeholders about the environmental impact of their products and services is accurate and not misleading. Overstating ‘sustainable’ or ‘green’ credentials now carries […]
In August 2022, the UK Competition and Markets Authority (CMA) launched an inquiry into ASOS, Boohoo and George at Asda to investigate the three fashion brands’ potentially misleading “green” claims. Nearly two years later, in March 2024, the CMA announced that it had agreed voluntary undertakings with the three fashion brands, which commit them “to […]
At the end of February, the European Parliament voted through a new environmental crime directive which includes provisions criminalising the most serious cases of environmental damage that are “comparable to ecocide”. The new Environmental Crime Directive was adopted on 11 April 2024 and entered into force on 20 May 2024. The environmental campaign group Stop […]
Across the world, climate change litigation is increasingly seen as an important measure by which to try to effect meaningful local or international action and change of policy. In July 2023, a global study found that climate change cases had more than doubled since 2017 and included thousands of actions filed before international and regional […]
The Environment Agency has launched a new Economic Crime Unit (ECU) to tackle serious financial offences in the waste sector. The launch comes after the Environment Agency’s National Waste Crime Survey 2023, which found that nearly one-fifth of all the waste produced in England was perceived to be illegally managed. Coupled with this, industry research […]
In March, the UK government released its Green Finance Strategy, setting out plans to attract investment to help achieve the country’s net zero ambitions. Then, a month later, the National Fraud Strategy came out, revealing that fraud is “by far” the UK’s most common crime, representing 40% of offences in England and Wales. However, no […]
