ESG

Compliance in focus: duties, challenges and competencies of the Management Board and Supervisory Board

By Renate Prinz on 15. March, 2024

The webinar with our partner Renate Prinz focuses on the latest compliance challenges for executives and supervisory boards. It delves into essential topics that are highly relevant today, both for C-level executives and non-executives on governing bodies. We begin with a thorough introduction to current compliance requirements and the organization of compliance within the company.

Explore key themes, including whistleblowing, anti-money laundering, the Supply Chain Due Diligence Act, and ESG. A central focus of the Passion for People webinar is understanding the specific responsibilities that board members and supervisory boards bear in this context, as well as effective ways to fulfill them.

Of particular relevance is the question of what competencies need to be developed within the organization and at the first and second management levels to meet the increasing demands. We will provide practical insights and concrete recommendations to ensure that your company has the necessary resources and capabilities to successfully navigate the complex compliance landscape.

Key topics include: Compliance requirements and organizational structure

Whistleblowing, anti-money laundering, Supply Chain Due Diligence Act, and ESG
Duties and challenges faced by board members and supervisory boards
Building essential competencies within the first and second management levels.

You can view a recording of the session below (German language):

McDermott is nominated in the Financial Times Innovative Lawyers Awards in Europe

By Renate Prinz on 29. July, 2023

Posted In ESG

We are very pleased to announce that our firm has been nominated in the categories Innovation in Digital Solutions and Innovative Lawyers in Impact and ESG in the Financial Times Innovative Lawyers Awards Europe.

The German legal tech team, led by Dr Thomas Hauss, was nominated for the Check of Regulatory Authorizations (CORA) tool in the Innovation in Digital Solutions category. The tool supports users in navigating the highly complex landscape of German and European financial supervisory law.

Learn more about CORA here.
Click here for the shortlist.

Our CORA team: Dr. Thomas Hauss, Renate Prinz, Annabelle Rau, Dr Philip Uecker, Dr Frederic Peine and Helena Wittmund.

European Supervisory Authorities (ESAs) put forward common understanding of greenwashing and warn on risks

By Renate Prinz on 04. July, 2023

Posted In ESG, Sustainability, Sustainability Risks

The European Supervisory Authorities published their Progress Reports on Greenwashing on June 1st. The reports includes a common high-level understanding of Greenwashing and thus helps to provide market participants and regulators with a shared reference point in dealing with this phenomenon.

In the report, ESMA assesses which areas of the sustainable investment value chain (SIVC) are more exposed to the risk of greenwashing. This assessment is meant to help market participants in preventing and mitigating greenwashing, and to support ESMA and NCAs in prioritising supervisory actions and regulatory intervention. The findings show that misleading claims may relate to all key aspects of the sustainability profile of a product or an entity – from governance aspects to sustainability strategy, targets and metrics or claims about impact. The report also provides sectorspecific assessments for key sectors under ESMA’s remit such as issuers, investment managers, benchmark administrators and investment service providers.

The final ESA greenwashing report is expected to be published in May 2024.

Click here for further details