Sharing our knowledge and expertise
Explore our insights on climate change, business & human rights, sustainable finance, inclusion & diversity, energy transition, and more.
ESG highlights
Consultation on nature-related financial disclosure framework – Adopting the TCFD model
Building on the progress made by the Task Force on Climate-related Financial Disclosures (the "TCFD"), companies are now likely to come under pressure to report and act on nature-related risks and opportunities associated with their business, in addition to climate-related risks.
Find out more about Consultation on nature-related financial disclosure framework – Adopting the TCFD model
ESG: Trends to watch in 2022
Environmental, social and governance considerations are now mainstream and have an impact on all businesses, globally. We explore the ESG trends that we think will help shape the year ahead.
Find out more about ESG: Trends to watch in 2022
ESG trends that could impact financial investors in 2022
This briefing explores some of the ESG trends and challenges that may be relevant to financial investors in 2022.
Find out more about ESG trends that could impact financial investors in 2022
Energy Transition Trends 2022
There remains a narrow window of opportunity for timely action to address the climate crisis. The necessary transition from fossil fuels to low-carbon energy sources will require massive and sustained levels of investment. Clifford Chance experts explore some of the trends that will shape the energy transition.
Find out more about Energy Transition Trends 2022
The growing risk of group litigation and class actions
Class actions have long been a feature of the legal landscape in the US, but there are clear indications that their reach is expanding. In this extract from a recent webinar, Clifford Chance experts explore the key risks in relation to securities and shareholder litigation, claims arising from data breaches and data misuse, and climate change litigation.
Find out more about The growing risk of group litigation and class actions
PODCAST: The Climate Lawyer: Climate Meets Venture Capital
There's no path to net zero without innovation, and nobody knows innovation like venture capital. What does it mean to be a climate VC investor?
Listen here
Just Transactions: A White Paper on Just Transition in the Banking Sector
Clifford Chance, the Institute for Human Rights and Business and the CDC Group have jointly authored a white paper which addresses how banks can support a 'Just Transition' through climate-related financing activities, and the challenges and opportunities that this presents given the range of stakeholders to consider and their competing interests.
The report team led consultations and interviews with representatives from 16 leading banks to understand how they are incorporating Just Transition considerations into their strategies, governance, and operations.
Find out more about Just Transactions: A White Paper on Just Transition in the Banking SectorInsights
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United KingdomEmployment - advisory, litigation & transactionalM&A corporateCompanyCorporate adviceCorporate governance & directors' responsibilities
Diversity and inclusion on listed company boards and executive committees: FCA consultation on new reporting requirements
On 28 July 2021, the FCA launched a consultation (CP21/24) on proposals to improve transparency for investors on the diversity of listed company boards and the...
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And the Survey Says... DFS Wants Your Diversity and Inclusion Details
Diversity and Inclusion continues to be a hot topic within corporate America, with more and more regulators—including the New York State Department of Financia...
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NetherlandsEmployment, incentives & pensionsCorporate governance & directors' responsibilities
Statutory quotas and targets to improve gender balance within Dutch large company boards
Last week, the bill introducing 1) a statutory diversity quota for supervisory boards (or the non-executive members of a one-tier board) of companies with a st...
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Climate changeGermanyUnited KingdomNorth America
The Climate Lawyer: Climate Meets Venture Capital (with Rich Kim & Mona Alsubaei)
There's no path to net zero without innovation, and nobody knows innovation like venture capital. What does it mean to be a climate VC investor? Find out in the fourth episode of The Clifford Chance Podcast series, 'The Climate Lawyer', where host Richard Kim (counsel, Düsseldorf) is joined by Mona Alsubaei, a member of the investment team at Union Square Ventures (USV) and specialist in climate tech investing.
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United KingdomTradeWTO LawClimate changeEnvironmental auditing & due diligenceLegislative, regulatory advice & compliance
UK Deforestation Due Diligence Framework Implementation: Further Detail Published
The UK Department for Environment Food and Rural Affairs has published a second consultation on the proposed UK mandatory forest-risk commodities due diligence...
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United KingdomEquity capital markets & equity linked productsClimate changeEnergy & the environmentPrivate equity [Investment management]Corporate governance & directors' responsibilitiesEquity capital marketsFinancial institutions M&ASecurities regulation & compliancePrivate equityFunds & investment managementPrivate equity
UK Government Imposes Mandatory Climate-Related Financial Disclosure on Large UK Businesses
The Department for Business, Energy and Industrial Strategy (BEIS) has announced that it will impose mandatory climate-related financial disclosure duties on l...
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TechnologyTrade
The role of tech in trade policy and climate change
A broad range of services – from digital and telecommunications services to engineering, cloud storage and artificial intelligence (AI) – will play an integral...
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International
Delivering a Trade and Climate Agenda
Clifford Chance has collaborated with the World Economic Forum on the publication, Delivering a Trade and Climate Agenda. The report finds that while businesses are actively pursuing emissions reductions, action on trade policy can help accelerate this shift. The report outlines eight ways in which trade policy can help businesses accelerate the transition to net-zero.
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InternationalItalyUnited KingdomClimate change
Climate change litigation in Italy: The dawn of a new era?
Italy had seemed to be one step behind other countries where climate change litigation is concerned, with no climate-related litigation having been commenced i...
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Mining & metalsOil & gasPower & energy networksRenewablesEnvironmentClimate changeEnvironmental litigation & dispute resolution & claim managementUnited StatesUnited KingdomNetherlands
COP26: Did it deliver?
COP26, has been described as the 'last best hope" to avert climate disaster. In this extract from a recent Clifford Chance event, moderated by Partner an...
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Climate changeGermanyUnited Kingdom
The Climate Lawyer: COP26 Up Close and Personal (with Rich Kim, Clare Burgess and David Alfrey)
You've seen the news on COP26, but not like this. For the first episode of our new podcast series, The Climate Lawyer, host Rich Kim (Counsel, Dusseldorf) is joined by Clare Burgess (Partner, London) and David Alfrey (Lawyer, London) for a lively and insightful discussion of the conference and its major takeaways.
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Oil & gasPower & energy networksRenewablesReal estateAviationShippingTransportation infrastructureDerivativesFinancial services & marketsTrade, Commodities & Export financeClimate changeEmissions tradingEnergy & the environmentInternational
COP26: Article 6 Rulebook for the new Global Carbon Market Mechanism agreed
Some 6 years after the Paris Agreement, COP26 has resulted in agreement on a global carbon market mechanism (GCMM) largely completing the so-called 'Paris Agre...
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BanksHedge fundsPrivate fundsPublic funds exchange traded fundsWealth management & private bankingAsset financeDebt capital marketsEquity capital markets & equity linked productsClimate changeEmissions tradingEnvironmental operational permitting & reportingPlanning & zoning land useHedge fundsPrivate equity [Investment management]ChinaHong Kong SAR
COP26: China's Green Finance Agenda
China has pledged to be carbon neutral by 2060. It's a huge ambition and will require a vast amount of domestic and international investment. Our experts exam...
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Power & energy networksRenewablesProject financeConstructionClimate changeEnergy & the environmentEuropean Union (EU)France
Favourable winds for French offshore wind farms
While Northern Europe and the UK started investing in offshore wind more than 20 years ago, France was slow off the mark. Now, that is about to change, as the ...
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Energy & resourcesUnited Kingdom
Recent government announcements for the energy sector
In a race to ensure it is on track to meet its net zero targets by 2050, the Government has announced the publication of its new British Energy Security Strate...
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Oil & gasPower & energy networksRenewablesElectricityGasProject financeClimate changeEmissions tradingEnergy & the environmentInternational
Energy Transition Trends 2022
There remains a narrow window of opportunity for timely action to address the climate crisis and still meet the Paris Agreement targets. The necessary transiti...
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Oil & gasPower & energy networksRenewablesAntitrustEU Public policyMonitoring & advice on EU developmentsEUElectricityGasProject financeConstructionClimate changeEnergy & the environmentEuropean Union (EU)International
REPowerEU: European Commission’s proposed plan for more affordable, secure and sustainable energy
In March 2022, in response to the unprecedented energy price crisis, the European Commission presented REPowerEU, a new set of proposed measures to create...
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Oil & gasPower & energy networksRenewablesReal estateAsset financeProject financeDebt capital marketsEquity capital markets & equity linked productsClimate changeEmissions tradingEnergy & the environmentIslamic banking & financeAntitrust litigationBusiness & human rightsM&APublic takeovers & mergersPublic inquiriesReal estate developmentReal estate private equity & investmentREITS
UK Net Zero Strategy - A clearer view of the challenges to 2050
Ahead of its Presidency of COP26, the UK Government has published its Net Zero Strategy to 2050. The Strategy covers all business sectors and some cross-cuttin...
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European Union (EU)WTO LawAnti-dumping & customsClimate changeEmissions tradingPower & energy networksMining & metalsMaterials
10 Questions on the Proposed Carbon Border Adjustment Mechanism
The European Commission has published a proposal for a Regulation on a Carbon Border Adjustment Mechanism (CBAM) to deal with the long-standing problem of 'car...
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Industrials
Industrial Decarbonisation Strategy: The path to net zero
The Department for Business, Energy & Industrial Strategy (BEIS) has published its strategy setting out the path to decarbonising industry, aiding the goal...
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United StatesAutomotiveLife insuranceHedge fundsSovereign debtUnited KingdomBanksPrivate equityPrivate equityEuropean Union (EU)Corporate finance trustsGroup insurancePrivate equity [Investment management]Luxembourg (Grand Duchy of)Structured debt & securitisationNon-life insurance
ESG Securitisation: accelerating after a slow start
This is a reprint of an article originally published on 16 March 2022 as part of our publication "Structured Debt in a New World", accessible he...
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BanksHedge fundsPrivate equityPrivate fundsPublic funds exchange traded fundsWealth management & private bankingPrivate equityInfrastructure investorsLegislative, regulatory advice & complianceNature conservationPublic consultationsReal estate litigation
Consultation on nature-related financial disclosure framework – Adopting the TCFD model
Building on the progress made by the Task Force on Climate-related Financial Disclosures (the "TCFD"), companies are now likely to come under pressur...
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Japan
Insights into ESG in Japan
Environmental, Social and Governance (ESG) considerations are essential to businesses for the opportunities they bring, and for the reputational and economic r...
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RetailEnergy & resourcesPrivate fundsCapital goodsMaterialsNon-life insurancePrivate equityReal estateTechnologyTelecommunicationsEURegulated industriesTradeClimate changeCorporate transactionsEmissions tradingEnergy & the environmentEnvironmental auditing & due diligenceEnvironmental liability review, structuring & insuranceEnvironmental litigation & dispute resolution & claim managementLegislative, regulatory advice & complianceNature conservationWaste managementInternationalTransport & logistics
ESG: Trends to watch in 2022
Environmental, social and governance considerations are now mainstream and have an impact on all businesses, globally. We explore the ESG trends that we think ...
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Funds & investment managementUnited KingdomSpainNetherlandsGermanyAustraliaUnited StatesBrazilSingapore (Republic of)United Arab Emirates
ESG trends that could impact financial investors in 2022
ESG investment is booming – according to research from Bloomberg, ESG assets are forecast to hit US$53 trillion by 2025 (a third of global assets under managem...
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AmericasLitigation, dispute resolution & risk management
Investor Protection to Societal Protection? With Proposed Amendments and Recent Probe, SEC takes Concrete Steps to Increase ESG-Related Disclosures by Public Companies and Investment Managers
On September 29, 2021, the U.S. Securities and Exchange Commission proposed amendments to Form N-PX under the Investment Company Act of 1940, as amended, to in...
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Capital marketsUnited Kingdom
FCA consults on extending climate related disclosure requirements and certain ESG matters
On 22 June the FCA published CP21/18 consulting on proposals to extend the application of their climate-related disclosures listing rule to standard listed com...
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Climate changeEnvironmental litigation & dispute resolution & claim managementAdministrative & public lawBanking & finance litigationBusiness & human rightsClass actionsCommercial & corporate litigationInternational lawRisk management & compliancePublic consultationsReal estate litigationRegulatory investigations & enforcementUnited StatesAustraliaFranceFrance (Mainland)GermanyNetherlandsUnited KingdomEngland & WalesIsle of ManNorthern IrelandScotlandInternational
ESG Trends: The rise of climate litigation and the challenges for business
Activist shareholders and NGOs targeting governments and businesses in relation to climate change are increasingly turning to litigation....
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Netherlands
ESG: Dutch Court's Landmark Decision on Climate Change, Human Rights and Corporate Duties
In a landmark judgement, Royal Dutch Shell (RDS) has been ordered by the District Court of The Hague to reduce it CO2 emissions by 45% by 2030, as compared wit...
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BanksDebt capital marketsEnergy & the environmentSaudi ArabiaUnited Arab EmiratesAbu DhabiDubai
Green Shoots: Sustainable Capital Markets in the Middle East
The development of sustainable finance continues to evolve across the Middle East – a region more readily associated with conventional energy resources such as...
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BanksPublic funds exchange traded fundsPrivate equityInfrastructure investorsMonitoring & advice on EU developmentsPublic procurementState aid controlAviationElectricityGasPortsRailShippingTelecommunicationsWaterAsset financeLeveraged & acquisition financeProject financeDebt capital marketsEquity capital markets & equity linked productsClimate changeContaminated landEmissions tradingEnergy & the environmentEnvironmental auditing & due diligenceEuropean Union (EU)
ESG: European Commission Finalises Taxonomy 'Technical Screening Criteria' For Climate Mitigation And Adaptation
The European Commission has finalised legislation containing the Technical Screening Criteria (TSC) for climate mitigation and adaptation activities supporting...
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Group insuranceIntermediaries brokersNon-life insuranceHedge fundsPrivate fundsPublic funds exchange traded fundsWealth management & private banking
European Commission Adopts Long-Awaited Amendments for Asset Managers, Insurers and Insurance Distributors on ESG Integration
On 21 April 2021 the European Commission adopted a package of measures to help improve the flow of money towards sustainable activities across the European Uni...
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BanksMining & metalsOil & gasPower & energy networksRenewablesPrivate fundsPublic funds exchange traded fundsGroup insurancePrivate equityInfrastructure investorsReal estateCorporate & Investment Grade lendingDebt capital marketsEquity capital markets & equity linked productsClimate changeEnergy & the environmentEnvironmental auditing & due diligenceInsurance regulatoryBusiness & human rightsCorporate governance & directors' responsibilitiesEuropeEuropean Union (EU)
ESG: European Commission Proposes Corporate Sustainability Reporting Directive
The European Commission has published a proposal for a Corporate Sustainability Reporting Directive (CSRD) as part of a package of measures aiming to direct ca...
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United States
ESG Trends: What the latest Paris Agreement commitments mean for U.S. climate policy
With COP26 (the United Nations climate change talks) fast approaching, the U.S. has announced its new Nationally Determined Contribution (NDC) under the landma...
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BanksOil & gasPower & energy networksRenewablesHedge fundsPrivate equityPrivate fundsPublic funds exchange traded fundsWealth management & private bankingPrivate equityInfrastructure investorsReal estateTransportation infrastructureAntitrustProject financeSyndicated loansDebt capital marketsEquity capital markets & equity linked productsConstructionPensionsClimate changeEmissions tradingEnergy & the environmentEnvironmental auditing & due diligenceEnvironmental litigation & dispute resolution & claim managementEnvironmental operational permitting & reportingLegislative, regulatory advice & compliancePrivate equity [Investment management]Islamic derivativesCorporate adviceCorporate governance & directors' responsibilitiesCyber security and information protectionEquity capital marketsFinancial institutions M&AIPOsJoint ventures & strategic alliancesM&APrivate acquisitions & disposalsPrivate equityPrivatisationsPublic takeovers & mergersSecurities regulation & complianceCorruption & standards of public conduct lawPolitical intelligence & monitoringReal estate fundsCorporate complianceFinancial & economic crimeBribery, corruption & fraudInsider trading market abuseData privacyAustralia
APAC ESG Perspectives: Australian Key Considerations
Environmental, Social and Governance (ESG) considerations are important to businesses for the opportunities they bring, and for the reputational and economic r...
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Europe
ESG: Staying ahead of the Regulatory Curve in Europe
Central banks, financial regulators and governments around the world are focusing on the risks that climate change poses to the global economy. There are a num...
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United StatesCorporate transactions
ESG Initiatives - From Politics to the Lending Market
Environmental, Social and Governance ("ESG") initiatives are at the forefront of today's market economy as government and corporate leaders are urgin...
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BanksConsumer goodsConsumer business servicesRetailMining & metalsOil & gasPower & energy networksRenewablesHedge fundsChemicalsMedical devices healthcare equipmentPharmaceuticalsAerospace & defenceAutomotiveCapital goodsMaterialsPrivate equityInfrastructure investorsEUEU Public policyFree movement issues (goods, services, capital & persons)Litigation in the EU courtsRegulated industriesTradeClimate changeEnergy & the environmentEnvironmental auditing & due diligenceEnvironmental liability review, structuring & insuranceEnvironmental litigation & dispute resolution & claim managementLegislative, regulatory advice & complianceAdministrative & public lawBusiness & human rightsCommercial & corporate litigationEmployment litigationInsurance litigationRisk management & complianceCorporate governance & directors' responsibilitiesInternational tradeInsurance regulatory [M&A corporate]IPOsPrivate equityLegislative process & legislative draftingPublic consultationsReal estate litigationCorporate complianceCriminal investigations & prosecutionAustriaBelgiumCyprusDenmarkFinlandFranceGermanyGreeceIrelandItalyLuxembourg (Grand Duchy of)MaltaNetherlandsPortugalSpainSwedenUnited KingdomEuropean Union (EU)BulgariaCzech RepublicCroatiaEstoniaHungaryLatviaLithuaniaPolandRomaniaSlovakiaSlovenia
ESG: Sustainable Corporate Governance and New Due Diligence Duties in Europe
The European Union is currently consulting on sustainable corporate governance in the context of the European Green Deal. In this extract from a recent Cliffo...
