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Join us tomorrow at the Ethisphere Virtual ESG Forum as we discuss the latest on Environmental, Social and Governance (ESG) oversight, including managing ESG issues in the supply chain. The discussion will address who should have a seat at the table when managing corporate ESG matters, and the role of key corporate functions in identifying and mitigating ESG risks in supply chains and beyond.

Yesterday the House of Representatives passed by a narrow margin the Governance Improvement and Investor Protection Act (H.R. 1187), which is a package of bills broadly requiring disclosure of ESG metrics in business (including supply chain impacts) and setting specific reporting expectations on climate risks, political spending, executive pay, and taxation rates. The legislation comes amidst indications by the SEC that mandatory disclosures related to ESG and climate impacts are a priority. Our analysis of…

As reported previously, developing new ESG and climate disclosure requirements (including those relating to supply chains impacts) is one of the SEC’s key priorities, and there have been indications that proposed rule-making on the issue may be imminent. The topic was once again raised by SEC Commissioner Allison Herren Lee this week at the 2021 ESG Disclosure Priorities Event. In her remarks, Commissioner Lee indicated that the SEC is working on a proposed rule on ESG disclosures…

Over a year into the global pandemic, businesses have had to pivot to survive and adjust to new ways of conducting business. Now, more than ever, Asia Pacific business leaders are making the necessary strategic changes to meet the needs of a vastly changed business landscape — and deciding where legal expertise may be needed most to limit and manage disruption and soften risks. The State of Play Supply Chains and Trade Realignment report delves…

This year, Baker McKenzie’s annual supply chain conference opened with a robust discussion about what we can expect from the Biden Administration, how this might impact supply chain regulations, and our predictions for what lies on the horizon. Our presenters also covered best practices and emerging topics in sustainability including the expansion of ESG legal requirements, litigation risk and responsible sourcing risk management. Click here to view* the recording. *Note that only live Baker McKenzie…

The Securities and Exchange Commission (“SEC”) has taken a major step towards exercising its significant power to require companies to disclose greater information relating to ESG and climate impacts. On March 4, 2021, the SEC announced that it has formed a Task Force focusing on climate and ESG disclosure issues. The Task Force is a part of SEC’s Division of Enforcement and will be led by Kelly L. Gibson, the Acting Deputy Director of Enforcement.…

On November 29, 2020, Swiss voters opted for the introduction of EU-style ESG reporting and due diligence requirements and against the so-called Responsible Business Initiative. While the initiative would have added teeth to the civil liability regime for the violation of international human rights and environmental standards across the supply chain, the substantive requirements regarding ESG reporting and due diligence across the extended enterprise are not any lighter under the chosen approach. We expect that…

Although good practices related to Environmental, Social and Corporate Governance (ESG) have caught the attention of consumers and public opinion over the past few years, the ongoing Coronavirus pandemic has certainly pushed that trend forward. Throughout the course of the public health crisis, we have seen consumers demanding that companies implement sustainable practices in their business operations, including those related to environmental sustainability, labor and workplace safety, and human rights. In Latin America specifically, this…

Please join the Baker McKenzie team on Thursday, December 3 for a workshop on Supply Chain Risk Management and What It Means Under a Biden Administration. The discussion, slated to start at 12:10pm ET, will be part of the Luxury Law Summit. Baker McKenzie experts will address risk management in the supply chain with a focus on: Supplier risk and relationship managementGrowing risk under a Democratic administrationExport controls and sanctions risks in the supply chain lifecycle,…

Yesterday U.S. Customs and Border Protection (CBP) issued its first finding of forced labor in 24 years (Finding) against importation into the United States of certain goods from a Chinese company.  The Finding was made pursuant to 19 U.S.C. 1307, which prohibits the importation of merchandise mined, manufactured, or produced, wholly or in part, by forced labor, including convict labor, forced child labor, and indentured labor.  Building upon the withhold release order issued in May…