Here are some sustainability highlights from the month of December 2021:
EU sustainable corporate governance regulation postponed (again): The long awaited EU legislative proposal relating to sustainable corporate governance was postponed again. While unsurprising, this delay is nonetheless alarming as it isn’t accompanied by any clear new deadline. The initiative appears, however, as an “important” item in the programme of the French Presidency of the Council of the European Union which is set to begin next month.
Updated ICC guidance on green advertising: On December 6, the International Chamber of Commerce issued a new guidance for Responsible Environmental Marketing Communications. Capitalizing on the growing momentum of sustainable production and consumption along with a proliferation of “green” claims, the updated framework covers emerging claims from “net-zero”, “carbon neutral” or “compostable” to “circularity” claims as well as general environmental claims, noting that “claims such as “environmentally friendly” or “ecologically safe”, implying that a product or an activity has no impact—or only a positive impact—on the environment, should not be used unless a very high standard of proof is available.”
Crim’ law takeover: Business & Human rights practice increasingly touches on criminal law. The European Center for Constitutional Rights (ECCHR) submitted a criminal complaint against several Dutch and US brands with European headquarters in the Netherlands. They argue that Patagonia and Nike, among others, have been complicit in the forced labor of members of the Uyghur population in China’s Xinjiang province, which could amount to crimes against humanity. Similar criminal claims were filed by CSOs in France and Germany earlier this year.
U.S. Uyghur Forced Labor Prevention Act signed into law: days before Christmas, President Biden signed the Uyghur Forced Labor Prevention Act (UFLPA) into law. A few days earlier, the US Senate had unanimously approved the bill, banning goods made with forced labor in the Xinjiang province in China from entering the United States market. The Act will be effected starting June 21, 2022.
Sustainability Standards Board appoints French Chair: the new International Sustainability Standards Board (ISSB), which was announced during COP26 will be led by Emmanuel Faber, former CEO of Danone. The Board is expected to submit draft standards for public consultation in Q1 2022. Alignment with other standards will be key for practitioners as sustainability rises up the business agenda.