Sustainability, Climate and Environment
The legal aspect of sustainability encompasses not only compliance with an expanding range of regulations but also strategic positioning for long-term value creation through robust risk management and sustainable business practices. At Wikborg Rein, we have a dedicated team focused exclusively on sustainability, while ensuring it is fully integrated across all of the firm’s practice areas.
We actively engage with enterprises that position themselves for long-term value creation. The ability and readiness to adapt to the green transition can offer competitive market advantages and financial gains.
Our team provides expertise in interpreting and ensuring compliance with sustainability regulations. We perform risk assessments for projects and initiatives, advise on the development of policies and procedures, and conduct ESG and compliance due diligence, particularly in relation to transactions and acquisitions.
The Paris Agreement and the UN Global Framework for Managing Nature are the two overarching frameworks regarding sustainable development. Furthermore, the EU is a driving force in the development of regulations across all areas of sustainability. Our team possesses comprehensive expertise on all aspect of environmental law, including climate, pollution and circular economy regulations.
We offer
- Advise on legal requirements related to climate and environmental law
- Sustainability reporting obligations (CSRD, taxonomy, SFDR, CSDDD)
- ESG risk assessments, including greenwashing and litigation risks
- ESG Compliance programs
- Sustainable business development, risks and opportunities
- ESG educational courses and programmes
- ESG due diligence in M&A transactions
Our assistance includes, among others:
- ESG, climate and environment: We give legal advice in all areas of climate and environmental law. This includes e.g. all reporting requirements (CSRD, SFDR, taksonomien), circular economy (such as requirements related to products), due diligence requirements (CSDDD, deforestation act), pollution, chemicals, waste, EU ETS, CCS, CBAM, Net Zero Industry Act, requirements related to energy efficiency, etc.
- Business development: We help companies navigate in the complex ESG landscape so that they become well positioned to fulfil business opportunities. The need for reduced climate emissions, a more circular economy and integration of nature into decision making are key in a sustainable business development for the future.
- Compliance: We assist in the development of compliance programs within different areas of ESG law. We conduct risk analysis, assist in the set-up of compliance functions, facilitate routines for internal control, monitoring and training, etc.
- Due diligence: We assist in due diligence processes to identify ESG risks in transactions, in connection with portfolio management, etc. Investors are increasingly focused on ESG factors as part of their analysis to identify material risks and growth opportunities.
- Sustainability reports: We assist in the process of developing sustainability reports while securing the fulfilment of all legal requirements.
- ESG-risks: We provide a better understanding of ESG risks in various sectors, and how they can be mitigated, including drafting of contract clauses. We assist our clients in managing the risk of e.g. being accused of greenwashing or increased litigation risks related to inadequate ESG management. This includes e.g. climate and sustainability litigation risks, and risks of being accused for greenwashing.
- Climate and environmental law: We provide guidance on legislative framework in all areas, and assist in the contact with e.g. the pollution authority in relation to applications for emissions permits or follow-up of administrative orders to take action such as environmental surveys or preparing action plans.
Our interdisciplinary sustainability expertise
The green transition
A comprehensive change is needed in the way we use our natural resources. Climate change perspectives and environmental degradation is increasingly reflected in legal requirements. The EU is a driving force in the green transition, with a strong emphasis on maintaining economic growth. Businesses will play a vital part in the green shift. Solutions with reduced climate emissions, a circular economy approach and the integration of nature into decision making are key in a sustainable business development. We assist companies to be well positioned to fulfil business opportunities.
Compliance Update
In our Compliance Update we provide our readers with information and updates on current topics in ethics, compliance and crisis management. Enjoyable reading!
See our other Compliance areas
Read our articles on Sustainability, climate and environment
WR ESG Alert: An autumn of public consultations to further sustainability
In this month's ESG alert we describe three recently published public consultations in Norway, relating to (i) a revised CO2 compensation scheme, (ii) amendments to sustainability reporting in auditor and accounting regulations and (iii) the EU's recent Regulation on reduction of methane emissions in the energy sector.
EU Corporate Sustainability Reporting Directive (CSRD) Implemented into Norwegian Law
On 11 June 2024, the Norwegian Parliament amended the Accounting Act to implement the EU Corporate Sustainability Reporting Directive (CSRD) into Norwegian law. The new rules impose new sustainability reporting requirements for Norwegian companies, with the aim of standardising and enhancing the quality of disclosed environmental, social and governance matters.
Carbon capture – building a new value chain from a contractual perspective
With its history and extensive experience with CO2 management as an oil and gas nation, Norway is a leading country in building a new CCS value chain in the fight against climate change.
