Headlines

Vanguard strikes US$29.5 million settlement with Texas in coal antitrust case 

Asset manager agrees to restrict stewardship activities and expand proxy voting as multistate ESG antitrust litigation continues against BlackRock and State Street.

CARB approves first implementing rules under California climate disclosure laws 

Regulator sets 10 August 2026 reporting deadline for Scope 1 and 2 emissions and establishes fee structure, as First Amendment litigation over SB 253 and SB 261 continues.

‘Two words: supply chain’ – Jones Day’s ESG chair predicts next litigation wave 

Howard Sidman – recently appointed global chair of environmental, social and governance at Jones Day – speaks to Forward Law Review about the rise of supply chain due diligence, regulatory divergence and the next phase of ESG litigation.

UniSuper accused of greenwashing over ‘Global Environmental Opportunities’ option 

Complaint to ASIC alleges the Australian pension scheme misled members after halving environmental revenue threshold while retaining ‘sustainable’ branding.

Net Zero Asset Managers relaunches with 250 signatories 

Updated commitment follows six-month review after initiative suspended activities earlier this year.

Fast Forward

EPA proposes rollback of Good Neighbor air pollution plan 

The proposal would remove federal smog controls for some upwind US states under the Clean Air Act framework. 

California regulator seeks input on dairy and livestock methane controls 

CARB opens information solicitation to inform implementation of SB 1383 and development of potential new regulation, with comments due by 30 March 2026.

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. 

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

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.

Kenya leads the way in Africa’s carbon markets

A series of recent legal, regulatory and financial reforms aim to enhance transparency and align Kenya with global climate frameworks, writes Christina Nduba-Banja, partner at Bowmans in Nairobi.

Council approves Omnibus I overhaul of EU sustainability rules 

Member states back simplification of CSRD and CSDDD, raising thresholds and easing due diligence obligations in bid to bolster competitiveness.

UK publishes Sustainability Reporting Standards 

New standards introduce climate scenario analysis, Scope 1–3 emissions reporting and disclosures on capital allocation and executive pay, aligned with the ISSB baseline.

Commission vows clearer ‘urgency’ criteria after Ombudswoman’s Omnibus maladministration finding 

Brussels says it will spell out more transparent parameters for invoking ‘urgency’ in a forthcoming Better Regulation communication, while defending its discretion and insisting co-legislators had sufficient evidence to adopt or advance the contested files. 

In-house view: Maryam Hatcher on sustainability claims and corporate accountability 

Mars senior counsel Maryam Hatcher discusses the growing scrutiny of sustainability claims, and why this is driven both by regulation and by the public’s expectation that companies should be transparent about their sustainability efforts and impacts.