Garrigues Sustainable Newsletter – April 2024
In this newsletter we compile the most relevant legal news on ESG matters in Spain, published by Garrigues and G-advisory. READ MORE
Final approval for the European directive on greenwashing, requiring greater information to consumers
The European Council has approved the directive on greenwashing, which will ban commercial practices such as greenwashing and early obsolescence, together with increasing the information that will have to be given to consumers. The new law has yet to be published in the Official Journal of the European Union. Final approval was obtained for the…
GAM hires G-advisory as advisor in its sustainable financing process
G-advisory was selected as the sustainability expert hired by General de Alquiler de Maquinaria (GAM) to prepare a second-party opinion on a promissory note program registered at the Spanish Alternative Fixed-Income Market (MARF). The Garrigues group consultants tested this program’s relationship with sustainability by analyzing the offering circular (between GAM and the financial institution), the ambition…
Garrigues Sustainable Newsletter – January 2024
In this newsletter we compile the most relevant legal news on ESG matters in Spain, published by Garrigues and G-advisory. READ MORE
Reflecting sustainability criteria in pay is key to achieving ESG goals
An increasing number of companies are taking sustainability criteria into consideration not only in executive and director pay, but also in the pay of their staff as a whole, in order to better achieve their ESG goals. We addressed this dynamic in the Garrigues Sustainable dialogs. “Companies that make the effort to consider sustainability criteria create…
Corporate Sustainability Reporting Directive and reporting standards: are companies and assurance providers ready?
We analyze the challenges and opportunities of the new regulation for companies and assurance providers. The EU Corporate Sustainability Reporting Directive (CSRD), of December 14, 2022 (the transposition of which into Spanish law is already at the preliminary bill stage) marks a material change in the sustainability information to be provided by many companies in…
Garrigues Sustainable Newsletter (October 2023)
In this newsletter we compile the most relevant legal news on ESG matters in Spain, published by Garrigues. READ MORE
The European Union bans the use of microplastics
To protect the environment and human health, the Commission has decided to restrict the use of synthetic polymer microparticles intentionally added to products. The European Commission has approved Commission Regulation (EU) 2023/2055 of 25 September 2023, published in the Official Journal of the European Union on September 27, 2023, amending Annex XVII to Regulation (EC) No…
Elecnor registers a €400 million commercial paper program on the MARF linked to sustainability targets
Elecnor has just registered a multi-currency commercial paper program on the Alternative Fixed-Income Market (MARF) with a maximum outstanding balance of €400 million. For this program, which is linked to the fulfillment of sustainability targets and runs until June 2024, the company has engaged the services of G-advisory, which will handle the necessary reports. The…