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The ESG Litigation Guide provides detailed analysis of chosen European and international ESG litigation cases, both decided and pending. It includes details on the claims raised by the parties, the relevant legislation, public statements by interested parties, as well as links to judgements and press reports.
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As in other countries in Latin America, environmental, social and governance (ESG) litigation is also on the rise in Chile. Most affected by ESG initiatives are large companies from various sectors, such as food producers, electricity, mining, financial services, transportation, renewable resources and alternative energy, and resource conversion.
In 2022, the Republic of Chile placed the first-ever sovereign sustainability bond (SLB) in international markets, making Chile the first country in the world to issue sovereign bonds with KPIs linked to environmental sustainability targets. To date, there have also been efforts by the state to further protect the environment by law. For example, there was an attempt to draft a new constitution, widely considered to be an "ecological constitution" because it emphasizes environmental rights and states that all people have the right to a safe and ecologically balanced environment. The draft was rejected, but the effort continues. Furthermore, in a case brought by citizens, the Supreme Court ruled in 2019 that the guidelines and principles of sustainable development should have been taken into account in the environmental assessment of projects and activities
Chile has signed and ratified the Escazú Convention, the first international treaty on the environment in Latin America and the Caribbean.