@Afraz Akhtar @Abbie Whitlock I just wanted to confirm for a question on commercial trends. Are firms expecting multiple trends or just one? Because I feel like I can do this ESG one in the allocated time (Introduce the trend > Explain 2/3 real-life examples > Briefly explain how firms can advise on this).I’m an ESG lover, so I usually go for the regulators becoming more strict line of approach and the implications this has.
UK = The CMA now has the power to fine companies up to 10% of their global annual turnover for breaches of consumer protection law, which includes greenwashing.
Italy = Investigated Shein for greenwashing and fined them €1 million (Shein also struggled to launch their IPO in London because of similar concerns).
France = Ruled that TotalEnergies had misled consumers by greenwashing via an advert, and they were ordered to remove them or face fines.
This tells me in Europe at least that ESG has shifted from something which was good for PR/optics to now being legally enforceable for companies. Which then also means, law firms particularly “full-service” ones with many offices have an opportunity to advise companies across jurisdictions on these ESG regulations.
But I really dislike VIs because without that human interaction, I struggle to gauge how much is actually being expected from my response.
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