Crowe "Your ESG Updates are Here – February Edition"

 
ESG checklist for your IPO 
  
If you’re going public – or even considering an initial public offering (IPO) – this checklist can help you understand and manage regulatory requirements related to your environmental, social, and governance (ESG) strategy. 
  
Get the checklist
  
Upcoming webinar
ESG in 2024 
Now is your chance to learn from our ESG team – and some special guests – about the latest best practices, regulatory requirements, and more. Secure your spot at our February webinar. 
Register now
  
Regulatory and governance updates 
U.S. Chamber sues California over recent climate legislation
On Jan. 30, 2024, the U.S. Chamber of Commerce, along with others, filed a lawsuit contesting California's climate disclosure laws (SB 253 and SB 261), citing First Amendment and Clean Air Act violations. Companies doing business in California will need to monitor this litigation for future developments. 
Read more about the lawsuit
Learn more about California’s climate legislation

EU votes to delay some CSRD reporting and approve labeling directive
The European Union (EU) Parliament’s Legal Affairs Committee voted to delay certain reporting aspects of the Corporate Sustainability Reporting Directive (CSRD) by two years. However, this vote only affects timing and still moves the proposal forward. The EU Parliament also approved a directive to curb greenwashing and misleading durability claims on product labels. 
Read more about the CSRD reporting delays
Read more about the product label directive

SVHC Candidate List increases to 240
The European Chemicals Agency added five new chemicals to the Candidate List of substances of very high concern (SVHCs). This list is updated biannually and governs chemical compliance under the EU Registration, Evaluation, Authorisation, and Restriction of Chemicals regulation. 
Review the additional chemicals

Supplemental Business Advisory for Burma (Myanmar) publishes
The U.S. State Department released a Supplemental Business Advisory regarding the continued risks of doing business in Burma (Myanmar), covering the ongoing conflict and human rights abuses in the country and expanding on sectors and activities of concern. 
Read more about the advisory

Baker McKenzie study suggests increasing risks from ESG disputes
In a recent study, Baker McKenzie found that 73% of respondents expect ESG disputes to present a risk to their company in 2024. The survey of senior legal and risk leaders from large organizations based in the United Kingdom, U.S., Singapore, and Brazil also explores other key disputes risks. 
Read more about the study
  
In case you missed it 
FAQ on the EU microplastics ban

Understanding principles for managing climate-related financial risk
  
Upcoming events 
March 11-13: We’re a proud sponsor of the Institute of Internal Auditors 2024 GAM Conference in Las Vegas, Nevada. Stop by our booth to meet the Crowe internal audit ESG team. 

March 17-19: We are also proud to sponsor the 36th annual Roth Conference in Dana Point, California, where Crowe ESG services leader Chris McClure will speak on a panel. 
  
Looking for more information on ESG? 
Check out our ESG resource center for the latest updates on regulations, best practices, and industry developments. 

Ready to take the next step on your ESG journey? Contact our team. 

  
Chris McClure 
  
Partner, ESG Services Leader 
[email protected]
  

  
Daniela Arias 
  
Advisory 
[email protected]

  
Rebecca Miller 
  
Advisory 
[email protected]
  

  
Animesh Shah 
  
Advisory 
[email protected]