Reed Smith partners Claude Brown and Yves Melin provided commentary to the global media group’s report, which focuses on key issues such as supply chain oversight, convergence of ESG standards, and data collection and dissemination.
Four distinct chapters cover:
- Global harmonization of ESG standards
- Balancing supply-chain issues with ESG goals and obligations
- Managing the challenges of data collection and dissemination
- Disclosing ESG reporting and credentials accurately and intelligibly to stakeholders
London-based partner Brown has a particular focus on the environmental and social aspects of ESG. He is recognized as one of the world’s leading legal experts in weather risk management, adaptive finance, green finance and the voluntary carbon markets. He has helped design and implement carbon registries, as well as trading platforms.
Brussels-based Melin focuses on supply-chain issues relating to ESG. He concentrates on trade remedies (anti-dumping measures, countervailing measures and safeguards, and rebalancing duties), customs laws and procedures, sanctions, export and import controls, as well as carbon trading and border adjustment.
Other contributions to the white paper come from leaders at American software company Palantir and the Impact Investing Institute, an independent UK-based organization aiming to encourage more investments intended to generate positive, measurable social and environmental impact alongside a financial return.
Brown said: “Our clients are increasingly asking us to support them on their ESG needs. One of the key issues they face is the lack of global convergence on ESG regulations, principles, initiatives and reporting standards. Lawmakers must support their goals by providing a framework within which they can operate.
“We are pleased to have contributed to this white paper, which lays out some of the key obstacles and considerations for organizations engaging with ESG,” he said.
Melin added: “Investors should be keeping a very close eye on the organizations that are not taking ESG seriously. Within the EU, the direction of travel is clear – the European Union is very keen to decarbonate its economy and make sure that its companies can compete. As the rules change and the playing field levels, those that fail to comply will fail to succeed.
“This white paper provides useful insight for organizations considering their own ESG agenda,” Melin said.
Brown was a panelist at this year’s Reuters ESG Investment Europe 2021 conference, which took place Oct. 21. He spoke at the ‘Harmonising Frameworks: From Apples & Oranges to Apples & Apples’ session. It can be viewed at reutersevents.com.
Reed Smith’s global team of transactional, environmental, corporate, regulatory, and dispute-related lawyers work together to advise clients on the complex interplay of assets, liabilities, risks and opportunities within the ESG universe.
The firm helps clients implement ESG plans, pursue ESG risk mitigation and improve their compliance and reporting systems.