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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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In recent years, governments, companies, and social agents have taken action to promote Environmental, Social and Governance (ESG) policies as a key factor for companies to create value. By combining the EU/Spanish regulatory framework, the Spanish legal system has witnessed the passing of more than 360 legislative proposals. Among these, amendments to the environmental and energy sectors stand out, along with substantial regulations aimed to uphold social rights, related to diversity. Besides, the new regulations also encompass employment issues.
Investors’ growing interest and concern for ESG matters is having a direct and tangible impact on Spanish companies. Stakeholders advocate for the creation of ESG specific committees, for the raise of awareness and for the increase in the accountability of corporate decisions. In response to the investors’ demands, companies are integrating ESG principles into their decision-making processes and policies. As a result, the application or incorporation of ESG to business is day to day becoming more of an obligation than an option.
From a litigation standpoint, ESG is becoming to be a reality in disputes, nevertheless, they remain in nascent stages. Notably, disputes related to the “E” for Environmental continue to be the protagonists of the ESG litigation in Spain. There have been some cases filed by social agents against both public and private entities related to environmental and climate-change issues. On the horizon, we anticipate that we will see an increase in ESG disputes considering the development of the regulatory framework and the switch from soft law to mandatory rules.