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On 17 November 2023 the Department of Water and Sanitation published the long overdue suite of proposed amendments to the National Water Act, 1998 (the Act). If the draft National Water Amendment Bill (B – 2023) (the Bill) is adopted in its current form it may address some of the most pertinent gaps and legislative … Read more
The European Securities and Markets Authority has published three explanatory notes pulling together the relevant guidance on three fundamental concepts of the EU Sustainable Finance framework, being the use of estimates, the relationship between sustainable investments and investment in Taxonomy-aligned economic activities and the “do no significant harm” principle. These concepts are used in the … Read more
With regulators increasingly focused on greenwashing, and new sustainability regimes on the horizon, we outline the risks facing business The general landscape Listed companies across various sectors and industries are grappling with how to manage and disclose ESG issues, particularly relating to climate. These issues include: Accounting for carbon and other greenhouse gas (GHG) emissions … Read more
Growth of transnational tort claims means businesses risk liability for environmental failures by subsidiaries and counterparties In recent decades, there has been a marked increase in the number of actions brought in the UK and elsewhere based on alleged environmental and human rights-based failings by large multinational corporations. As these claims have developed in the … Read more
Welcome to our monthly ESG Newsletter. There’s a lot happening in the environmental, social and governance (ESG) space, and we don’t want you to get lost in the quagmire. In our newsletter, we share our latest ESG insights and identify must-know developments from the UK, EMEA and around the world. Read on for our November … Read more
In July 2023, the Court of Appeal upheld the first instance decision in McGaughey & Anor v Universities Superannuation Scheme Limited [2023] EWCA Civ 873 (“McGaughey“), dismissing the application by members of a pension scheme to bring a derivative action against the directors of the scheme’s trustee company. McGaughey and ClientEarth v Shell, taken together, … Read more
There are so many ESG-related publications and developments that it is hard to keep abreast of them all. For this reason, HSF publishes a monthly tracker of ESG-related publications and developments, with a primary focus on developments that may be of most interest to or impact our clients in the Southern African Development Community, be … Read more
The Hong Kong Stock Exchange has delayed its proposed amendments to the Listing Rules to enhance climate-related disclosures which were originally targeted for implementation on 1 January 2024. The rule changes are now expected to come into effect on 1 January 2025, which will give more time to the market to prepare for the additional … Read more
Our series on climate disputes finds the UK, Australia and the US placing high hurdles to successful investor claims but the risk is growing. Recent years have shown a rise in activist shareholders striving to shape corporate conduct around ESG matters, particularly climate change. Institutional investors are increasingly backing such initiatives, driven by the need to … Read more