Sharing our knowledge and expertise
Explore our insights on climate change, business & human rights, sustainable finance, inclusion & diversity, energy transition, and more.
ESG highlights
Energy Transition TV
Our Worldwide Projects Group came together in Copenhagen to dive deep into the issues businesses face globally in the ambition to becoming Net Zero. Take a look at some of their predictions for what lies ahead around the world.
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Energy transition: Energy security, affordability and the impact on climate change
The transition from fossil fuels to clean energy to address the climate crisis was never going to be easy and involves expensive trade-offs between economics and climate. However, the Russian invasion of Ukraine has made that transition much harder as energy security becomes a major problem for many countries. David Evans, Senior Counsel and co-head of the Americas Energy and Projects Group at Clifford Chance in Washington D.C explores the legal and practical challenges that need to be considered.
Find out more about Energy transition: Energy security, affordability and the impact on climate change
PODCAST: The Climate Lawyer: What Can In-House Counsel Do?
There's a new hope in the battle against climate change from somewhere you might not expect. In-house counsel are stepping up to become agents for change in their organisation. In this fifth episode of the Clifford Chance podcast series "The Climate Lawyer", host Richard Kim (counsel, Düsseldorf) is joined by Adam Woodhall, founder and CEO of Lawyers for Net Zero, a non-profit that helps guide in-house counsel on their climate journeys.
Listen here
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
Insights
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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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Oil & gasPower & energy networksRenewablesClimate changeEnergy & the environmentEnvironmental litigation & dispute resolution & claim managementBusiness & human rightsUnited Kingdom
UK Net Zero Strategy ruled unlawful leaving uncertainty over UK climate policy
On 18 July 2022, the High Court declared that the UK's Net Zero Strategy is, in part, unlawful and ordered the Secretary of State to revise it by March 2023. I...
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Climate changeGermanyUnited KingdomNorth America
The Climate Lawyer: What Can In-House Counsel Do? (with Rich Kim & Adam Woodhall)
There's a new hope in the battle against climate change from somewhere you might not expect. In-house counsel are stepping up to become agents for change in their organization. In this fifth episode of the Clifford Chance podcast series 'The Climate Lawyer', host Richard Kim (counsel, Düsseldorf) is joined by Adam Woodhall, founder and CEO of Lawyers for Net Zero, a non-profit that helps guide in-house counsel on their climate journeys.
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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 financeClimate changePolitical intelligence & monitoringOil & gasMining & metalsElectricityGasEnergy & the environmentEuropean Union (EU)Japan
Focus on Hydrogen: Japan's energy strategy for hydrogen and ammonia
The Japanese government has set ambitious goals for a carbon-neutral future to enhance its energy security. It plans to establish a full-scale international hy...
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United StatesPower & energy networksRenewablesOil & gas
Inflation Reduction Act of 2022
We are pleased to present this briefing regarding the Inflation Reduction Act of 2022 (the "IRA"), which Senator Chuck Schumer (D-NY) described as &q...
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Emissions tradingEnergy & the environmentCommercial & corporate litigationPolitical intelligence & monitoringAustraliaInternational
Greenwashing – Australian carbon credit units in the regulatory spotlight
As part of the Federal Government's crackdown on greenwashing, an independent review of the Australian Carbon Credit Units regime will be carried out by former...
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Power & energy networksRenewablesElectricityProject financeConstructionClimate changeEnergy & the environmentEuropean Union (EU)United Kingdom
Multi-Purpose Interconnectors: Enabling the transmission of clean energy in the UK
As the UK strives towards its ambitious target of 50GW of offshore wind capacity by 2030, large-scale investment will be required in the offshore wind industry...
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Oil & gasPower & energy networksRenewablesProject financePFI PPP & project bondsConstructionClimate changeEnergy & the environmentInternational
Energy transition: Energy security, affordability and the impact on climate change
The transition from fossil fuels to clean energy to address the climate crisis was never going to be easy and involves expensive trade-offs between economics a...
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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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Americas
Americas ESG Practice
Our Americas ESG practice focuses on public and private transactions and compliance and risk management. We are closely integrated with our global ESG team and...
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AmericasLitigation, dispute resolution & risk management
Sustainable is the New Black- ESG in Fashion
The fashion industry is intrinsically evolving as the most coveted patterns and textures ebb with the tide of public opinion. While these shifts occur, the phy...
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European Green Bond Regulation
Since the European Commission published its proposal for a Regulation on European green bonds ("EU GBS") in July 2021 as part of its agenda on sustai...
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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...
Perspectives – Legal Development Series
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Energy transition – what is the impact of rising energy prices?
As rising energy prices and the shifting political landscape bring greater uncertainty, our panel discussed how this will impact the speed of the wider energy transition. Our experts looked at some of the innovations and developments that we are seeing as corporates and governments take on the challenge of reaching net zero.
Find out more Find out more
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China's sustainable finance outlook – 2022 and beyond
As sustainable finance, carbon trading and other areas of green financing continue to evolve and expand in China, Clifford Chance partners Maggie Zhao, Paget Dare Bryan, Terry Yang, Vicky Ma and David Tsai, along with Kimi Liu (He Ping Law Firm), discussed the themes and issues for the China market and where it is heading.
Find out more Find out more -
The EU Taxonomy Regulation – is it sustainable?
As the EU sustainable finance taxonomy develops, Clifford Chance speakers David Adams, Caroline Dawson, Paul Ellison, Keith Hauck, Kirsty Souter and Thomas Voland looked at what's sustainable and what's not, what new obligations the Taxonomy Regulation introduces and whether we might see other jurisdictions developing their own taxonomies.
Find out more Find out more
Reports
The Promise of a Positive Legacy
This report draws attention to the human rights strategies developed by all 22 cities across the United Bid, recognizing the important work done by a wide range of contributors and the key commitments and undertakings of the cities. The city submissions, which are publicly available, are voluminous, and this report aims to present the information in ways that will increase the accessibility of the material to a wide variety of stakeholders.
Learn more
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.
Read the report
