Sustainable development meaning

In this issue: Sustainable finance and ESG weekly round-up Economic Crime and Corporate Transparency Act 2023 Lending Acquisition finance Shipping finance Real estate finance Sustainable finance Debt capital markets Derivatives Regulation for banking lawyers Sanctions Daily and weekly news alerts New and updated content Useful information Sustainable finance and ESG weekly round-up For a summary of this week’s Sustainable finance and ESG developments, see Sustainable finance and ESG weekly round-up—14 November 2024. Economic Crime and Corporate Transparency Act 2023 Economic Crime and Corporate Transparency Act 2023 (Commencement No 3) Regulations 2024 (SI 2024/1108): Provisions in ECCTA 2023 on civil recovery of cryptoassets in Scotland took effect on 7 November 2024, and measures introducing the UK-wide offence of failure to prevent fraud will commence on 1 September 2025. See: LNB News 07/11/2024 12. Unique Identifiers (Application of Company Law) Regulations 2024 (SI 2024/Draft): These draft Regulations would widen...

UK developments DESNZ consults on implementing voluntary carbon and nature market integrity principles The Department for Energy Security and Net Zero (DESNZ) has opened a consultation to gather feedback on how to put into practice the UK Government’s six principles for integrity in voluntary carbon and nature markets (VCNMs), assessing how they fit markets at varying stages of development. The Minister for Climate Change, Kerry McCarthy MP, unveiled these principles at COP29 in November 2024. It further seeks to define expectations for supplier and purchaser participation in VCNMs and to consider embedding such approaches within guidance, policy and possible regulation, underpinned by market frameworks that can institutionalise and scale high‑integrity practices. The call for views closes on 10 July 2025. See: LNB News 17/04/2025 13. Sources: Voluntary carbon and nature markets: raising integrity; UK backs businesses to trade carbon credits and unlock finance. EU developments EBA publishes ESG dashboard for centralised climate risk monitoring in the EU/EEA banking sector The European Banking Authority (EBA) has...

In this issue: UK, EU and international regulators and bodies Authorisation, approval and supervision Operational resilience Financial crime and sanctions Consumer protection Complaints, compensation and claims management Investigations, enforcement and discipline Regulation of capital markets Packaged Retail and Insurance-based Investment Products (PRIIPs) Dispute resolution for financial services lawyers Regulation of derivatives Sustainable finance and ESG Investment funds and asset management UK MiFID II EU MiFID II Payment services and systems Fintech and cryptoassets Regulation of AI in FS LexTalk®Financial Services: a Lexis®Nexis community Financial Services Enforcement Database Daily and weekly news alerts Intraday news alerts New and updated content Dates for your diary Latest Q&As No Weekly Highlights on 24 April 2025 UK, EU and international regulators and bodies FCA announces first international presence in US and Asia-Pacific regions The Financial Conduct Authority (FCA) has unveiled its...

Key terms Expressions such as ‘responsible/sustainable business’, ‘corporate responsibility’ (CR), ‘corporate social responsibility’ (CSR), and ‘environmental, social, governance’ (ESG) appear widely in multiple settings among companies, advisers and legal practitioners across sectors. Yet, broadly, they all signal an enterprise acting responsibly within its everyday operations, as part of its day-to-day activities. An increasing number of businesses recognise that meeting national, state and local rules alone may no longer adequately shield them from legal, regulatory or reputational exposure, and that missing the escalating expectations in this sphere can carry significant financial consequences. In this note, we adopt ‘sustainable business’ as the overarching label for consistency. For further terminology, see Precedent: Sustainability glossary terms (The Chancery Lane Project). What is ‘sustainability’? The word ‘sustainability’ often sits alongside phrases such as ‘environmental sustainability’ or green business in common discussion. Although there is no single, settled definition, many bodies and sources rely on the Brundtland Commission Definition of sustainable development when attempting to explain the term. However, the Brundtland Commission Definition...

Defining sustainable development The scope and meaning of sustainable development remain hotly contested. Many descriptions draw upon variations of the renowned Brundtland definition and the three pillars model, often referred to as the triple bottom line of sustainability. Yet, in the absence of a uniform methodology, it is hard to determine how to deliver sustainable development, or to know exactly when, if at all, it has been realised. For detailed definitions of sustainable development, consult these Practice Notes: Sustainable development—definition and application at international level Sustainable development—definition and application at European Union (EU) level Sustainable development—definition and application at UK level Sustainability indicators Sustainability indicators offer a means to gauge—or at least to approximate—progress towards the policy objective of sustainable development. Origin After the Earth Summit in Rio de Janeiro, Brazil, in 1992, states were encouraged to establish their own sets of sustainable development indicators (SDIs) designed to: align with their individual national circumstances and...

Banking regulation—Luxembourg—Q&A guide This Practice Note provides a jurisdiction-specific Q&A on banking regulation in Luxembourg, published in the Lexology Getting the Deal Through series by Law Business Research (law stated as at 7 February 2023). Authors: Loyens & Loeff—Adrien Pierre; Vanesa Gomez Pena. 1. What are the principal governmental and regulatory policies that govern the banking sector? Luxembourg is a leading financial centre, so nurturing the financial industry is a core policy aim. The Ministry of Finance partners with Luxembourg for Finance (the agency for the development of the financial centre) to promote, expand and diversify the Luxembourg financial centre, while identifying new opportunities. Digitalisation. Anti-money laundering and countering the financing of terrorism (AML/CFT). Sustainable finance. Financial education. Policies are being adapted as needed to respond to the covid-19 pandemic, to which the sector has shown strong resilience. 2. What are the defining characteristics of a bank to be caught by the banking laws and regulations? Is...

Precedent green clauses These model green provisions are designed for insertion within construction agreements, adapting sustainable practices and net zero-aligned terms sourced from the Chancery Lane Project (TCLP)’s construction clauses for deployment in...

Ref: [ description ] (the Property) Vendor: [ name of Seller ] Purchaser: [ name of Buyer ] 1 Extent of the Property 1.1 Who owns the perimeter walls, fences, hedgerows and ditches? If title to any boundary is unclear, please indicate who has looked after it previously, and for how long if known. 1.2 Please provide full particulars of any disagreements about the boundaries or their upkeep known to the Seller (past, current or anticipated, and whether settled or outstanding) as applicable. 1.3 If a river, watercourse or ditch adjoins the Property, does the Property boundary lie on the near bank, the opposite bank, or run precisely through the centre of the channel bed? 2 Access 2.1 Does the Property connect directly to a public highway with no verges whatsoever in between? 2.2 Is there an easement permitting passage over any private road or footpath? If yes, please provide particulars. 2.3 Has the Seller encountered...

Re: [ description ] (the Property) Seller: [ name of Seller ] Buyer: [ name of Buyer ] 1 Extent of the Property 1.1 Boundaries 1.1.1 Kindly supply a plan of the Property identifying the ownership of every boundary. Where the title does not clearly evidence ownership, state who has previously maintained the boundary and set out any contributions made towards its upkeep. 1.1.2 Please confirm there are no inconsistencies in the title deeds concerning the Property’s boundaries and that the physical boundaries exactly match those shown in the deeds. If any discrepancy exists, provide full particulars. 1.1.3 Have any boundaries been moved or re-aligned by the Seller or by any earlier proprietor? 1.1.4 Is there any existing or anticipated liability relating to the maintenance of the boundaries? 1.1.5 If any part of the Property adjoins a river, ditch, or other watercourse, does the boundary sit on the near bank, the far bank, or along the centre of the bed? ...