Welcome to the 25th issue of our Newsletter ‘Beyond Compliance’
In an unprecedented, multilateral response to Russia’s 24 February 2022 invasion of Ukraine, the US, the EU and UK, along with their allies around the world, implemented a series of severe and successive financial and trade sanctions and export controls against Russia and Belarus. These actions targeted a wide range of persons, entities and sectors, including Russian government officials, oligarchs, financial institutions and major companies.
In addition, there has been a global shift to implementing strategies aimed at addressing climate change, in the recent years. Environmentally friendly credentials have seen a significant increase in ‘green’ applications and the use of sustainability labels such as ‘sustainable’, ‘bio’, and ‘natural’. Commitment to sustainability, however, is hindered where environmental advertising or disclosures are false, incomplete or exaggerated. At the same time companies risk accusations of greenwashing. Competent authorities around the world are now taking a strong stance on misstatements and omissions about ESG considerations as well as selling of ESG investments under false claims.