The Directorate of Investment and Company Administration (“DICA”) has issued an undated notice where it has listed the documents that all DICA registered companies are required to submit to DICA to obtain its approval to repatriate foreign currencies out of Myanmar (the “Notice”). We understand from the Notice that it applies only to DICA registered companies ...
Why is ESG of importance to charities when they already make such a positive difference to society? Because there is still much to be done about how charities undertake their valuable work, and many do not yet communicate to stakeholders all the things they do well, in a systematic and measurable way. And because two thirds of millennials consider the social and environmental commitments of an organisation when deciding where to work ...
The Supreme Court on 10 May 2023 considered whether damage caused by an oil spill in 2011 could constitute a “continuing nuisance” – and so extend the limitation period for a claim ...
On 24 April the Pensions Regulator (TPR) published new guidance (Guidance) on the practical steps trustees should take to manage risk when using leveraged liability driven investments (LDI). The guidance replaces previous guidance issued by TPR in October and November 2022 in the immediate wake of the LDI liquidity crisis. Background On 23 September the Government announced its ‘Growth Plan 2022’ ...
As countries and companies around the world set goals for renewable energy targets, there is constant uncertainty as to the best path for reaching these goals. While wind and solar development are often top of mind, nuclear generation recently has entered the discussion to achieve a carbon-free energy future. The linked articles discuss renewable energy goals and opinions regarding nuclear energy's role in such a transition ...
“If climate change is a shark, then water is its teeth”. This quote from James P. Bruce, a Canadian hydrogeologist, has never seemed more relevant to the South African context than today in light of recent extreme flooding and drought events. A warmer atmosphere holds more water vapour and when that water is released it can have devastating effects, as parts of Kwa-Zulu Natal experienced in 2022 ...
On March 21, 2023, Quebec?s Minister of Finance tabled his budget for the 2023-2024 fiscal year. One of the budget?s key measures is the introduction of a new tax holiday in connection with major investment projects. At first glance, the new measure does not appear to be specifically aimed at the mining industry, but some mining companies involved in the extraction of critical and strategic minerals and planning substantial investments in the near future could greatly benefit from it ...
We would like to inform you that today the President of the Russian Federation signed the Law dated April 28, 2023 No. 139-FZ significantly amending the Federal Law dated April 29, 2008 No. 57-FZ Federal Law “On Procedures for Foreign Investments in Companies having Strategic Importance for the National Security and Defense” (hereinafter – the “Strategic Investments Law”) ...
Report of the Department of Environmental Law and Climate Change The human right to a clean, healthy and sustainable environment A/HRC/52/L.7 (un.org) The Human Rights Council of the United Nations General Assembly, at its 52nd session held between February 27 and April 4, 2023, through this document, urged States to: to ...
On April 20th, 2023, President Gabriel Boric announced the guidelines of the National Lithium Strategy, through which the Government seeks to promote the lithium exploitation by the Chilean State (by means of State-owned companies or in association with private entities), to generate value-added lithium products and investment in technology and research ...
Introduction An EU Regulation on the making available on the Union market as well as export from the Union of certain commodities and products associated with deforestation and forest degradation (“Deforestation Regulation”) was agreed upon by the EU legislators in December 2022. The European Parliament has now green-lighted the Provisional Agreement at this month’s plenary session ...
“Electrification” has become a ubiquitous term these days, although depending on who you ask, it might have different meanings. However defined, a critical component of electrification as a policy choice to reduce reliance on fossil fuels is the need to fully evaluate both its practicality and the transparency of its cost impacts, particularly as that relates to lower income and middle class families, as well as small business ...
Brandon Bundren and over 100 lawyers from around the country who practice extensively in the area of trade secrets and restrictive covenants co-signed a written submission to the Federal Trade Commission regarding its recent noncompete ban ...
Borrowers who go through the process of obtaining an FHA-insured multifamily loan generally come to the same conclusion: the juice is worth the squeeze. At the end of the day, they get to enjoy a unique blend of benefits (35 or 40-year mortgage term, below market interest rate, etc.) that simply can’t be replicated with a conventional loan. One FHA benefit that’s been getting a lot of attention lately is loan assumption ...
The Chilean Institute of Industrial Property (INAPI) has recently announced the possibility to apply to a program for fast-tracking patent’s and utility model’s applications, provided that said applications relate to technical solutions capable of impacting the environment positively ...
“I’ve been involved in ESG and sustainability for over 20 years and in the last few years the focus has increased significantly,” says Rich Hall, Head of Sustainability at leading accountancy and professional services firm RSM, on the shift in perception of ESG-related risk within corporate organisations. “Even before the pandemic, we were beginning to see more commentary on ESG issues, mainly centred around the environmental side ...
Shoosmiths has launched ESG 360, a free online compliance audit tool to enable organisations to understand their Environmental, Social and Governance (ESG) performance. ESG 360 users receive a personalised report providing red, amber or green ratings in relation to various elements of ESG compliance performance, alongside commentary and suggestions for improvement. Built around an online questionnaire, ESG 360 allows users to assess their general ESG performance or focus on specific aspects ...
On March 21, 2023, the Supreme Court of the United States heard oral argument in Abitron Austria GmbH, et al. (“Abitron et al.”) v. Hetronic International, Inc. (“Hetronic”)[i] on an issue it has not squarely addressed in seven decades: the extraterritorial reach of the Lanham Act, the comprehensive trademark statute in the United States ...
The SEC Division of Examinations (the “Division”) issued a Risk Alert on March 27, 2023 detailing observations from examinations of newly-registered investment advisers. The Risk Alert provides information about the typical focus areas reviewed during examinations of newly-registered investment advisers. It also provides observations regarding compliance policies and procedures, disclosures and marketing practices ...
April 5, 2023 By: Nora Sheriff and Samir Hafez In their Wildfire Mitigation Plans (WMPs), Pacific Gas & Electric Company (PG&E) and Southern California Edison (SCE) indicate plans to spend roughly $18 billion and $5.8 billion respectively over the 2023-2025 WMP cycle. These total figures represent an approximately 26% increase over the utilities’ 2020-2022 WMP expenditures ...
The development of Bermuda's insurance regime is a result of prevailing market conditions and considerations. Recent enhancements to Bermuda's insurance regime have focused on commercial insurers (particularly in the life sector) and this trend looks to continue through and beyond 2023. That said, the BMA recently updated the Insurance Code of Conduct (the Code) in September 2022 ...
The N.C. Building Code Council is required by North Carolina law to reevaluate the building code every six years. In light of climate change legislation enacted in North Carolina on the heels of Governor Cooper’s 2019 Clean Energy Plan, changes to the energy code are being considered that would result in an 18 percent increase in energy efficiency for new homes. These code changes are in line with the 2021 International Energy Conservation Code ...
