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ESG

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Corruption and sourcing-related human rights risks are top of mind for many companies, and for good reasons. Both risk categories potentially carry substantial legal and PR risks and can be outside of a company’s direct control to the extent they are implicated by the conduct of third parties. However, corruption and responsible sourcing risks are often managed by different corporate functions. Corruption risks traditionally fall under the ambit of the legal/compliance department, whereas responsible sourcing…

Baker McKenzie partners Peter Tomczak and William “Widge” Devaney both have extensive experience in corporate anti-corruption matters, and often interface with boards on compliance related topics. As such, they’ve seen how ESG concerns have trickled up to the board, and how overlaps with anti-corruption mean ethics and compliance professionals in particular are well-suited to support new ESG requirements. They discussed these developments in an interview with Ethisphere editor Tyler Lawrence. As Peter Tomczak noted, the clear…

Although the SEC currently does not require public companies to disclose any environmental, social, and governance (“ESG”) information, including human rights issues and labor practices, historically, Congress mandated additional disclosures due to public policy considerations. On July 11, 2019, a discussion draft of the Corporate Human Rights Risk Assessment, Prevention and Mitigation Act of 2019 (“CHRRA Act”) was introduced at a hearing of the U.S. House Subcommittee on Investor Protection, Entrepreneurship, and Capital Markets. The…