Why is Earth Day Important?
Earth Day is recognized by more than a billion people every year as a day of action to change human behavior and create global, national and local policy changes. The first Earth Day took place in the US in 1970, when over 20 million Americans called for increased protections for our planet. Held annually on April 22 around the world, Earth Day now includes a wide range of events coordinated globally. There is no other comparable annual event to highlight the importance of Environmental, Social and Governance (ESG) and climate change more specifically.
Earth Day highlights the increasing importance of ESG considerations to global businesses, particularly as new ESG regulations and guidelines emerge seemingly every day. At the same time, customers, employees and investors are exerting ever more pressure on companies to engage in business on ethical, accountable terms. Accordingly, Mayer Brown is joining thousands of organizations worldwide on this significant day to raise awareness and take action as we look to “Restore our Earth” – the theme of Earth Day 2021.
Recognising Earth Day Globally
President Biden committed the United States to a 50-52 percent reduction in greenhouse gas (GHG) “pollution” from 2005 levels by 2030.
As businesses emerge from COVID with a significant amount of corporate debt, the landscape in the financial markets have also evolved: The focus on ESG issues has intensified. It is timely to take stock of where we are and consider how ESG issues could affect refinancings and restructurings of debt going forward. This article highlights seven key potential development areas through considering recent legal developments, market practices and trends.
Advertising “Sustainability” and “Green Claims” in Products and Services in the EU: Fancy Commercial Practice Can Be a Real Legal Challenge
The EU Green Deal announces the circular economy goal, which can only be achieved with the full mobilization of society and industry through the implementation of an integral EU policy for sustainability.
On April 21, 2021, the European Commission adopted a comprehensive package of measures to help improve the flow of money toward sustainable activities across the European Union.
As the world marks Earth Day 2021, and global leaders, and society at large, call for urgent action to combat “the coming disasters of climate change and environmental destruction”, it is an apposite time to consider the role of company directors in promoting positive environmental practices.
In an article published by IFC Review, Mark Uhrynuk and Alexander Burdulia help asset owners make better sustainable investment decisions in Southeast Asia by outlining ESG investment risks in the region, as well as relevant risk mitigation strategies in public and private markets.
New York Regulator Issues Proposed Guidance for Insurers on Managing Financial Risks from Climate Change
On March 25, 2021, the New York Department of Financial Services issued for public comment “Proposed Guidance for New York Domestic Insurers on Managing the Financial Risks of Climate Change”. Comments must be submitted by 11:59 p.m. EDT on Wednesday, June 23, 2021.
Luiz Gustavo Bezerra discusses carbon emissions in Brazil.
Mark R. Uhrynuk discusses sustainability and related regulatory developments across Asia.
Christina Thomas and Jonathan Becker discuss the recent changes that the Biden Administration has implemented, as well as the changes on the horizon, in relation to climate change.
Luiz Gustavo Bezerra discusses corporate strategies to achieve Net Zero (in Portuguese).
Mayer Brown Counsel Beth Brown provides background on the Pension Schemes Act 2021 and outlines the regulations in the consultation paper, as well as considerations for trustees seeking to understand and prepare for these future requirements.