Headlines

From ESG to ESSG: defence enters the sustainability debate

Rising geopolitical risk is forcing investors, companies and regulators to confront how defence, security and strategic infrastructure fit within ESG frameworks that were built for a very different global environment.

CMA sharpens warning on greenwashing liability across supply chains 

The UK competition agency says that businesses may be deemed to be making an environmental claim not only through marketing or packaging, but also by repeating claims made by others in the supply chain – or by omitting information.

Former US officials urge Ninth Circuit to revive youth climate challenge 

Former senior US officials – including John Podesta and Jennifer Granholm – and other interested parties have filed a series of amicus briefs urging the Ninth Circuit to revive a youth-led constitutional challenge to President Donald Trump’s fossil fuel executive orders.

SFDR has had limited effect on redirecting investment, study finds 

The EU’s Sustainable Finance Disclosure Regulation has had little impact on redirecting investment flows or improving portfolio sustainability, according to a new study published by the National Bureau of Economic Research.

Green groups back California in legal fight over clean vehicle waivers 

Environmental groups have filed an amicus brief in support of California’s clean car and truck standards, as the state and a coalition of others challenge the Trump administration’s attempt to revoke long-standing emissions waivers under the Clean Air Act.

Fast Forward

EU supervisors publish joint guidelines on ESG stress testing 

Guidance sets common EU standards for European financial regulators and confirms no new ESG stress test obligations for authorities.

UK regulator updates supervisory expectations on climate risk management 

PRA publishes final policy and supervisory statement on managing climate-related risks.

EU publishes delegated act simplifying Taxonomy reporting 

The European Commission’s delegated act simplifying EU Taxonomy reporting has been published in the Official Journal – with the changes applying retrospectively to the 2025 financial year. 

EU opens consultation track for forced labour regulation guidelines 

Guidelines due by 14 June 2026 with call for evidence to follow. 

CARB to release draft amendments to cap-and-invest and emissions reporting rules 

The California regulator will publish preliminary proposals at midday pacific time today ahead of formal rulemaking.

Canada selects lead body for sustainable investment taxonomy 

The Canadian government has selected the Canadian Climate Institute to lead the development of made-in-Canada sustainable investment guidelines. 

Outlook 2026

Business and human rights: the global landscape

Outlook 2026: Contributors examine how litigation, regulatory divergence, NGO action and evolving trade dynamics are reshaping business and human rights obligations worldwide in 2026.

Supply chains and human rights: the EU framework

Outlook for 2026: contributors examine how recalibrated EU frameworks, product-based regulations and forced labour bans are reshaping corporate accountability, governance and investment decisions across global supply chains.

ESG and defence: security must be part of the sustainability equation

Outlook 2026: Silke Goldberg, partner and global head of ESG at Herbert Smith Freehills Kramer, argues that rising geopolitical risk is forcing a rethink of ESG frameworks, with defence and security increasingly integral to long-term sustainability and societal resilience.

Corporate governance: international perspectives for 2026

Outlook 2026: from human rights accountability in Japan to fragmented disclosure regimes in Europe, public-interest ownership models and expanding board responsibilities in Canada, corporate governance expectations are diverging but intensifying worldwide.

How ESG is reshaping board governance in 2026

Outlook 2026: Leading practitioners explore how accountability for climate commitments, risk resilience, whistleblowing and nature-related issues will redefine board oversight and decision-making in the US and UK.

From greenwashing to fraud: the expanding ESG litigation frontier

Outlook 2026: As regulators sharpen enforcement powers and NGOs deploy increasingly sophisticated strategies, companies face rising exposure across green claims, human rights, fraud and emerging technologies.

ESG in recalibration: Europe, the UK and the road to 2026

Outlook 2026: In part two of our focus on regulation, leading practitioners assess how recalibration, rather than retreat, will shape ESG risk across Europe, the UK and beyond in 2026.

US regulatory retrenchment and the shape of 2026

Outlook 2026: From stalled federal climate rules to heightened scrutiny of fiduciary duties, the US is driving a recalibration of ESG regulation.

Editor's Picks

Navigating global shifts in ESG compliance: 2025 in focus 

This year marked a turning point for sustainability regulation, with bold legislative ambitions being recalibrated under economic and political pressure. But what does this mean for companies and what will they need to focus on going into 2026, asks Emma Bichet, partner-elect at Cooley, and Jack Eastwood, associate.

Transition planning: insights on the Central Bank of Ireland’s approach   

Climate transition plans are a key tool in translating companies’ broad climate goals into tangible actions – and being transparent on your transition planning process can help your company to mitigate the risk of greenwashing claims, writes Jill Shaw, ESG and sustainability lead at A&L Goodbody, Dublin. 

Corporate criminal liability reforms heighten UK ESG risks 

Recent reforms to fraud and corporate liability law in the UK mean environmental and other ESG failures now carry significantly higher criminal risk for companies. Analysis by Tom McNeill, partner at BCL Solicitors in London.

Charlene Ripley: reputation is fragile

As Canada’s Teck Resources eyes a US$53 billion tie-up with rival miner Anglo-American, Teck’s former general counsel and chief sustainability officer Charlene Ripley talks to Forward Law Review about her career so far – and the evolution of her understanding of corporate sustainability.  

Is the UK government doing enough to tackle modern slavery in supply chains?

The government has responded to parliamentary calls for tougher action on forced labour, but its plans stop short of major legislative reform. Analysis from Richard Reichman, partner, and Christina Josephides, senior associate, at BCL Solicitors in London.

Why the electrotech revolution needs more than wires

As the electrotech revolution gathers pace, market forces, consumer choices and grid upgrades will shape whether the UK turns technological promise into real progress, writes Lewis McDonald, partner and co-head of the global energy practice at Herbert Smith Freehills Kramer.

Canadian federal budget revisits greenwashing under the Competition Act

Canada’s 2025 Budget proposes easing greenwashing compliance by repealing key 2024 Competition Act provisions and restoring the Competition Bureau’s gatekeeper role for challenging environmental claims, writes Beth Riley, partner at McMillan in Calgary.

The value creation imperative behind ESG

As ESG faces its toughest backlash in 15 years, all businesses in every jurisdiction are under pressure to prove that sustainability in fact delivers returns. Analysis by Ruth Knox, chair of the ESG & sustainable finance practice at Paul Hastings in London.

ECJ rules on identification requirements for access to environmental information 

EU law does not prevent member states from requiring individuals requesting access to environmental information to provide their name and postal address, says the ECJ – provided such requirements comply with core principles of EU law.

Climate litigation continues to rise despite slowdown in new filings 

Climate litigation continued to grow worldwide in 2025, with more than 3,400 cases now tracked globally, according to a new report from the Sabin Center for Climate Change Law – even as the pace of new filings slowed compared with recent years.

NGOs urge UK to include data centres in carbon budgets 

A group of environmental law NGOs led by Opportunity Green has made a submission to the House of Commons Environmental Audit Committee, arguing that rapidly rising electricity demand from the sector risks undermining statutory climate targets.

ESMA extends anti-greenwashing guidance to ESG strategies 

The European Securities and Markets Authority has published a second thematic note on sustainability-related claims, extending its supervisory guidance beyond ESG credentials to the way ESG strategies are described and communicated to investors.