On March 6, 2024, the SEC adopted its long-awaited climate disclosure rules. Below are ten things about the final rules that public companies should be aware of: Relaxed Scope 1 and Scope 2 Greenhouse Gas (GHG) Emissions Disclosure and Attestation Requirements The final rule requires larger companies with material Scope 1 emissions (direct GHG emissions) and Scope 2 emissions (indirect GHG emissions resulting from purchased energy) to provide certain information regarding such emissions, including, among other things, the methodology, significant inputs...

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ING today published its 2023 Annual Report, giving stakeholders an insight into our strategy, business activities and performance over the past year. Our activities are presented in the context of our strategic priorities: providing a superior customer experience and putting sustainability at the heart of what we do. “It is fair to say that 2023 was a challenging year on many counts: geopolitical and economic shocks, supply-chain disruptions, inflationary pressures, climate-related and other natural disasters, wars, and the continuing trend of societal and political fragmentation across the globe. Against...

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On 16 February 2024 the European Commission (“Commission”) announced that it had launched its first in-depth investigation (“Phase 2 investigation”) of a foreign subsidy potentially distorting the internal market under the Foreign Subsidies Regulation (“FSR”). The investigation relates to a public procurement procedure by the Bulgarian Ministry of Transport and Communications for 20 electronic “push-pull” trains and their maintenance with a contract valued at EUR 610 million. CRRC Qingdao Sifang Locomotive (“CRRC”), a subsidiary of the Chinese state-owned company CRRC Corporation...

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While a down year compared to all-time highs experienced in 2021 and 2022, 2023 represented another strong year in the U.S. venture community based on deal flow and total investments, even if not shared equally among all venture-backed companies and all stages of companies. High valuations in low interest rate environments during the pandemic contrasted with rising rates and inflation in 2023 resulted in many venture-backed companies seeking additional capital on lesser terms than their prior high-water valuations. Accordingly,...

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On March 1, 2024, the Office of the United States Trade Representative (USTR) published President Biden’s 2024 Trade Policy Agenda and 2023 Annual Report. This year’s agenda aims to further the cause of worker-centered trade policy, enhance the resilience of supply chains, and promote fair and sustainable trade practices. Below is a summary of the agenda and the report. According to the publication, the USTR is executing the economic vision of the Biden-Harris administration through the negotiation of trade agreements with...

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The next 12 to 18 months seem likely to involve what may be the biggest changes to the UK staffing and platform worker landscape since Michael Heseltine ended the old UK recruitment licensing regime 30 years ago. Users and suppliers of contract workers and gig workers are already beginning to work out how the Labour Party plans might affect them, and Wednesday's Budget announcement and some related developments add other things to the mix. Budget announcements affecting staffing and gig economy arrangements, and...

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The developments regarding the Digital Markets Act ("DMA") are mounting and the day by which Alphabet, Amazon, Apple, Bytedance, Meta and Microsoft must comply with the DMA's dos and don'ts is approaching (7 March 2024). This News Update provides an overview of the recent main developments, from the current state of play back to the day the first Big Tech companies were designated as 'gatekeepers' (5 September 2023). COMPLIANCE WITH OBLIGATIONS AND PROHIBITIONS UNDER THE DMA Following their designation, gatekeepers (Alphabet,...

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