ESG
Environmental, Social and Governance (ESG) as well as sustainability issues are at the forefront of global policy discussions. From consumer demands to new regulations, ESG implications are reshaping the way companies do business and add layers of complexity to their operations. The European Green Deal and its implications profoundly impact the day-to-day operations of European companies (and those doing business with them) and also serves as an important benchmark for foreign companies with ESG concerns. At BLOMSTEIN, we are deeply engaged in this transformation across all our core practices. Our interdisciplinary approach and the organic structure of our team give us the upper hand in supporting your ESG needs.
Contact: Dr. Anna Blume Huttenlauch, Dr. Florian Wolf
Environmental
Climate change demands urgent commitments from public and private sectors, with a range of implications for local and cross-border business. It also provides opportunities for companies looking to the future. We can help your business build the required resilience and enhance your position in these emerging markets.
Deforestation Regulation: We are monitoring the adoption of the EU Deforestation Regulation (2021/0366 - COD) and provide impact assessments for affected industries (e.g. cattle, cocoa, coffee, palm oil, soy, rubber, timber as well as their derivative products). We advise on compliance programmes and contractual terms in line with the proposed Regulation; we organise training and awareness campaigns. We provide an in-depth understanding of the potential risks to third country producers, particularly in Latin America, through our Brazil Desk. We provide advocacy advice on policies and delegated acts related to the Deforestation Regulation.
Green Hydrogen (GH2): We provide assistance with the H2Global procurement programme to enable your company to participate in auctions for long-term supply contracts for the supply of GH2 and its by-products. We also advise production projects on how to comply with requirements to facilitate access to EU and development bank funding instruments. We also provide advocacy advice on policies and regulations aimed at promoting the green hydrogen industry worldwide.
Carbon market: We monitor the approval of the EU Carbon Border Adjustment Mechanism (CBAM) (2021/0214- COD). We provide impact assessments for the affected sectors, especially the metallurgical one (iron, steel and aluminium). We assist your company in contractual negotiations and other matters relating to the European carbon market.
Governance
A well-established governance structure is fundamental to assessing and resolving ESG issues, as well as structuring the path to achieving ESG goals. Our Compliance Practice has the necessary expertise to update your company’s compliance mechanisms to incorporate ESG regulations.
Taxonomy and reporting obligations: We have an extensive regulatory knowledge of the European Taxonomy on ESG activities, the Sustainable Finance Disclosure Regulation (SFDR) and the Corporate Sustainability Reporting Directive (CSRD). We assist your company in preparing ESG reporting and structure your projects in accordance with the Taxonomy regulation to enable access to ESG investment funds.
Antitrust & Competition: Joint sustainability initiatives or ESG efforts by competing companies in the same industry sector can raise antitrust & competition issues. We support your company in discussions on sustainability initiatives to avoid future competition concerns, drawing on our in-depth knowledge in all areas of antitrust and about different regulator approaches across Europe and globally.
Anti-corruption: We advise and support your company's anti-corruption efforts, either through assessing your compliance programme or in self-cleaning procedures. We have extensive experience with the gold standards set by multilateral development banks (e.g. World Bank Group Integrity Compliance Guidelines) and regularly act as World Bank admitted monitors in sanctions procedures.
Responsible business is no longer just a consumer demand, it is fast becoming a regulatory requirement with mandatory consequences. The complexity of a global marketplace exposes your business to unwanted risks and requires a structure that can provide the certainty your company needs. The interdisciplinary approach of our Trade, Antitrust & Competition and Compliance teams can support you in every step on the way to maintain your brand integrity and to promote a just and equal society.
Supply Chain: We are monitoring the proposed European Directive (2022/0051 - COD) on corporate sustainability due diligence obligations in relation to human rights and the environment. We assist with the German Supply Chain Act (LkSG) if you fall within its scope, if you are a subsidiary of a German company or if you supply a company subject to its obligations. Our Brazil Desk also supports European companies doing business in Latin America to mitigate the risks associated with their particular business sector.