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21 March 2025
Issue: 8109 / Categories: Legal News , ESG
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NLJ this week: ESG risks

211938
This week’s NLJ boasts a double helping of ESG (environmental, social and governance)

In the first article, Paul Henty, partner, Beale & Co, looks at CBAM, the carbon border adjustment mechanism, ‘proposed legislation from the EU and UK, which—in the name of combatting climate change—will effectively impose tariffs on certain targeted, imported goods’.

Businesses need to prepare for this now and ensure their systems can adapt. Henty also highlights possible disruption ahead, in the shape of a potential backlash from the US. He writes: ‘Given the importance of strategically significant industries—such as steel from Pennsylvania and aluminium exports—CBAM could be interpreted as a direct challenge to US competitiveness. The risk of trade disputes, tariffs or even diplomatic escalation cannot be ignored.’

Next, Richard Reichman, partner, BCL Solicitors, looks at the overlap between the failure to prevent fraud offence and ESG failings. Greenwashing (overstating environmental claims) is one example of the risks. Reichman writes that, given the public appetite for corporate accountability, ‘the risk areas will almost certainly continue to grow’.

 

MOVERS & SHAKERS

Signature Litigation—Catherine Naylor

Signature Litigation—Catherine Naylor

International fraud and asset recovery offering boosted by partner hire

Stevens & Bolton—Alexa Payet

Stevens & Bolton—Alexa Payet

Private wealth disputes team adds contentious probate specialist

Morgan Lewis—Paul Feldberg

Morgan Lewis—Paul Feldberg

Firm strengthens investigations and sanctions capabilities with London partner hire

NEWS
Cheshire West, which established an ‘acid test’ for deprivation of liberty safeguards, has been overturned by the Supreme Court
The Chancery Division and other segments of the High Court are to be replaced by a new Business and Property Division (BPD), in a major civil justice shakeup
Law firms that hold client money will need to file annual accountants’ reports and make a declaration, the Solicitors Regulation Authority (SRA) confirmed this week
Two district judges and a tribunal judge have been sanctioned for delays in delivering judgments and orders
Private equity (PE) investment into UK law firms halved to £250m last year, but deal volume rose, according to research by Acquira Professional Services’ Momentum private equity market tracker
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