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In this podcast, Incentives & Remuneration Knowledge Counsel Kulsoom Hadi and Tax Associate Aimee Hutchinson discuss the use of ESG performance conditions and how the Travers Smith team became involved in drafting ESG conditions for long-term incentive plan (LTIP) awards as part of the Chancery Lane Project.
On 19 October 2021 the UK Government published its eagerly anticipated net zero greenhouse gas emissions strategy (the "Net Zero Strategy"). With just a week to go until COP26, the Net Zero Strategy is in the process of being scrutinised in detail by stakeholders in the UK and from other signatories to the Paris Agreement to gauge how serious the UK is about reaching the agreed goal to limit global warming to well below 2 (preferably to 1.5) degrees Celsius, compared to pre-industrial levels. In this article we look at some of the key policies and commitments outlined in the Net Zero Strategy and consider how its publication has been received.
Welcome to the third episode in a series of short videos in the build up to COP26.
On 18 October 2021, with just under two weeks to go before the UK hosts COP26, the UN Climate Change Conference 2021 in Glasgow, HM Treasury, the Department for Work & Pensions (DWP) and the Department for Business, Energy & Industrial Strategy (BEIS) published a joint paper entitled Greening Finance: A Roadmap to Sustainable Investing (the Roadmap).
A regular briefing for the alternative asset management industry.
Welcome to the second episode in a series of short videos in the build up to COP26.
Pensions Partner Andy Lewis and Senior Associate Niamh Hamlyn discuss the Silver Linings competition, which the firm is supporting, and look at how pension scheme trustees might start thinking about the "S" in ESG.
2021 has seen the UK Government and regulators engage in a blizzard of consultations and draft legislation, proposing reforms across a wide range of areas. The sheer volume makes it difficult for businesses to keep on top of changes that might affect them.
An industry-led Project has been launched with the publication of a standardised set of ESG metrics and a mechanism for comparative reporting.
A regular briefing for the alternative asset management industry.
The UK is set to host COP26 in November 2021. The summit is seen as the first real chance for the world to assess what has been achieved since the implementation of the historic Paris Agreement and to enable countries to come together and set meaningful targets for reducing global carbon emissions in response to the climate crisis.
"Sustainable finance" continues to dominate the legal and financial agenda for many asset managers at the moment, driven by multiple factors, including an emphasis on the climate crisis and an influx of legislation, particularly from the European Union, mandating financial organisations to demonstrate their sustainability credentials.
Welcome to the first episode in a series of short videos in the build up to COP26.
Shareholders in Commonwealth Bank of Australia (CBA), Australia's largest bank, have applied to the Federal Court of Australia to compel the CBA to furnish them with documents pertaining to its decisions to finance certain energy projects.
It has been reported that two German NGOs (Greenpeace and Deutsche Umwelthilfe) have written a letter of claim to Volkswagen, BMW, Daimler's Mercedes-Benz and independent oil and gas company Wintershall Dea, alleging that the companies need to put in place measures to reduce their CO2 emissions by 45% (as against 2019 levels) by 2030.
In the last few weeks there have been a number of stories relating to COP26 in the international press; from alarmist headlines of hotel room shortages in Glasgow to calls to reschedule the conference again as a result of COVID-19 restrictions. With COP 26 only 45 days away, we have selected two of the most significant talking points from recent days.
"Hot on the heels of the new climate change regulations that will apply to many pension schemes from October 1 2021, the chancellor of the exchequer has indicated that even more pensions sustainability legislation could be on the cards."
Head of Risk and Operational Regulatory Doug Bryden and Dispute Resolution Partner Heather Gagen recently gave an interview to Legal Business on ESG and the increasing demand for ESG-related advice from clients, in particular in relation to managing risk in this area.
"Significant progress has been made for working mothers in terms of provision for maternity leave and flexible working (although there is still work to be done). However, genuine career parity can only be achieved if taking time out to care for children becomes the norm for fathers too."