Sustainability, Climate and Environment
The concept of sustainability has received increasing attention in recent years. As stakeholder (including regulators and investors) scrutiny of ESG issues continues to intensify, firms are required to take their environmental responsibilities seriously and to bridge sustainability considerations with their business rationale. Wikborg Rein regularly advise our clients on new regulations relating to sustainability, and this remains a strategic focus for our firm.
We actively engage with enterprises that position themselves for long-term value creation. Our team provides expert advice to ensure compliance with new legal requirements, including in the area of sustainable finance. We offer guidance on the taxonomy for all business sectors, as well as advice according to requirements set out in the Sustainable Finance Disclosure Regulation (SFDR). We also have extensive knowledge of the obligations set out in the Corporate Sustainability Reporting Directive (CSRD).
The Paris Agreement and the UN Global Framework for Managing Nature are the two overarching frameworks regarding sustainable development. Our team possesses comprehensive expertise on all aspect of environmental law, including climate, pollution and circular economy regulations.
We offer
- Compliance with requirements set out in the EU taxonomy
- Sustainability reporting obligations (taxonomy, SFDR, CSRD, CSDD)
- ESG Compliance programs
- Sustainable finance and the classification of products
- Assessments of sustainability information in periodic reports
- Sustainable business development, risks and opportunities
- ESG due diligence in M&A transactions
- Sustainability criteria in industrial projects, such as offshore wind
- Implications of new European climate law (EU ETS, Carbon Border Adjustment Mechanism, etc)
- Environmental responsibilities for companies, emissions permits etc
- Biodiversity and circular economy expectations of companies
Our assistance includes, among others:
- ESG: We give legal advice in all areas of climate and environmental law. This includes e.g. all requirements according to the EU Taxonomy, the Sustainable Finance Disclosure Regulation (SFDR), and the Corporate Sustainability Reporting Directive (CSRD).
- 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.
- Contracts: We assist in developing contract clauses suitable to support specific ESG matters.
- Sustainability reports: We assist in the development of sustainability reports while securing the fulfilment of all legal requirements, we give advice on what is "best practice" etc.
- ESG-risks: We provide a better understanding of ESG risks in various sectors, and why they matter. This includes e.g. climate and sustainability litigation risks, and risks of being accused for greenwashing.
- EU ETS: We give advice related to the understanding of legal obligations under the EU Emissions Trading Scheme (EU ETS), both regarding operators covered by the system and in relation to trading of allowances as financial instruments.
- 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
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Read our articles on Sustainability, climate and environment
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.
Transportation of CO2 – an emerging market
Following the Paris Agreement, Carbon Capture and Storage (CCS) has emerged as a promising tool to substantially reduce carbon emissions. Whilst CCS’s potential is considerable, it is still a developing industry that needs efficient means of transportation.
