APAC ESG Update | Winter Quarter 2023–24
The impact of ESG (environmental, social & governance) laws, regulations, and obligations has increased in recent times at an almost incomprehensible rate. This is particularly true in the Asia-Pacific ("APAC") region. Within APAC, the breadth and extent of recently introduced requirements and obligations are catching some companies off guard, and many are now expending significant resources to "catch up" with their obligations, which often differ country by country.
Enforcement actions and proceedings involving ESG elements are also increasing substantially throughout APAC, with regulators, stakeholders, and nontraditional claimants (including environmental groups) bringing extensive and demanding claims before decision-makers, often publicly, with devastating reputational and financial impact. Unfortunately, the superlatives here are not overused, particularly within APAC jurisdictions where substantial activities by legislatures, regulators, and courts mean that entities are faced with diverse obligations across a number of jurisdictions. Keeping up to date is a noble and unrelenting endeavor.
In this inaugural Jones Day quarterly APAC ESG Update, our extensive team of lawyers across the APAC region set the ESG scene by country (in alphabetical order) with an overview of current requirements and obligations and follow with recent and notable activities, including in the areas of litigation and disputes, legislative and regulatory developments, and policy developments.