Wednesday, 28 October 2024.
Lately printed collectively by the World Reporting Initiative (GRI) and the Authorized Ecosystem Alliance for the Sustainability of Latin Americathe report “Compliance and Sustainability” evaluates the principle rules of the European Union (EU) and their impacts on Latin America.
The report, after an intensive documentary overview on ESG points, analyzes the extraterritorial attain in perspective of sustainability due diligence, the necessities and promoting associated to sustainable merchandise.
This overview particularly included the next rules:
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Regulation (EU) 2017/821 laying down provide chain due diligence obligations for Union importers of tin, tantalum and tungsten, their ores, and gold originating from conflict-affected and high-risk areas.
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Regulation (EU) 2019/876 as regards the leverage ratio, the online steady funding ratio, necessities for personal funds and eligible liabilities, counterparty credit score danger, market danger, exposures to central counterparties, exposures to collective funding undertakings, giant exposures, reporting and disclosure necessities.
Along with elaborating on the usage of GRI requirements, there are additionally chapters individualizing affect analyzes and prioritizations of all these rules for a number of the nations – Argentina, Chile, Colombia, Ecuador and Mexico – relying on their financial traits, along with particular discussions and analysis on the extent of data of all this European laws – “regulatory tsunami”, as talked about on the finish of the report – on the a part of legal professionals in Latin America.
And as a part of the ultimate conclusions, an fascinating chapter known as “Breaking down silos”, which highlights the necessity for higher communication between groups of legal professionals within the sustainability space and different authorized areas of the regulation corporations. For example, the report cites the sensible case of a shopper who ended up being sanctioned by the regulator, as a result of implementation of “good actions”.
Concerning all this, click on right here for the latest article in Portuguese on the portal of the Brazilian regulation agency Mattos Filho or in Spanish by the Uruguayan regulation agency Guyer&Regules or the Chilean Carey.
And on the picture beneath to navigate immediately by the 180 pages of the report (in Spanish).
The Authorized Ecosystem Alliance for the Sustainability of Latin America was based with the principle goal of analyzing authorized and compliance implications for Latin American firms arising from worldwide regulatory developments, with a concentrate on ESG Reporting, in addition to with the aim of bringing collectively legal professionals and the area’s authorized ecosystem talk about sustainability, and lift consciousness and promote the applicability of sustainability of their company advisory work.
It’s present members are the regulation corporations ALTA, Beccar Varela, Brigard Urrutia, Carey, Galiza, Guyer&Regules, Legance, Mattos Filho and Pástor, respectively from Costa Rica, Argentina, Colombia, Chile, Mexico, Uruguay, Italy, Brazil and Ecuador.
