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July 10, 2023

Editor’s note: is the reality of climate change finally hitting home?

(Photo: Wolfgang von Brauchitsch:Bloomberg)
(Photo: Wolfgang von Brauchitsch:Bloomberg)

The latest edition of our Sustainable Views newsletter.

Dear Reader,

Silvia is away enjoying the next instalment of her summer holidays, and so I’ll be keeping you up to date on all things ESG for the next two weeks. 

I’d be really interested to know how your company and employees are reacting to the record-breaking temperatures and extreme weather events happening around the world: the videos of people clinging to the roofs of their cars as they are forced backwards by floods in Zaragoza, a city in north-east Spain; the bright red maps and charts from various researchers showing never-before-seen land and sea temperatures; China apparently opening bomb shelters to stem the number of heat-related deaths. 

Scientists are clear about the link between these incidents and climate change. 

Are you seeing a growing consciousness and will to act on ESG as the reality of global warming and its impacts hit home?

ClientEarth, an environmental non-profit, has launched a new campaign warning companies selling seafood products in Europe that they may be guilty of “major human rights impacts and severe environmental degradation”.

The organisation is calling on companies to address value chain risks and increase traceability linked to the trade of lobster, shrimps and other seafoods to minimise legal and reputational risks, and to help better “manage and mitigate the risks a warming world and biodiversity collapse poses to their business”.

Companies failing to take stock of the potentially negative human and environmental aspects of the seafood business and to implement steps to reduce them, could fall foul of national due diligence laws, such as those already in place in France, Germany and the Netherlands, says Client Earth. The EU is also in the final throes of adapting a Corporate Sustainability Due Diligence Directive, the organisation reminds companies.

Across the Channel, the UK, post-Brexit, is working to catch up with EU moves to tighten ESG reporting. The latest consultation on the UK’s corporate governance code offers a welcome alignment with EU measures, say Paul Brehony and Kate Gee from law firm Signature Litigation. You can read the full piece here

Until tomorrow,

Philippa

Philippa Nuttall is EU correspondent at Sustainable Views

A service from the Financial Times