Publication
UK Carbon Border Adjustment Mechanism: how will it work?
In February, we reported on the Department of Energy Security and Net Zero’s confirmation that a UK Carbon Border Adjustment Mechanism (CBAM) would be bought into force by 2027
Global | Publication | August 19, 2016
Welcome to Essential Corporate News, our weekly news service covering the latest developments in the UK corporate world.
On August 15, 2016 the GC100 and Investor Group (the Group) published a second edition of its directors' remuneration reporting guidance (the Guidance), which was initially published in September 2013. The second edition reflects changes resulting from a review by the Group of experience over the 2014 to 2016 AGM seasons, and feedback from companies, investors, advisers, other market participants and government. It will be reviewed on a regular basis to ensure it remains relevant and useful.
The Guidance notes that there has generally been an improvement in the quality of remuneration reporting since the Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008 (as amended) (the Regulations) were introduced, but the Group believes that companies should continue to focus on clarity and conciseness. It states that remuneration committees may find it helpful to consider:
The revised Guidance notes the following:
(GC100 and Investor Group, Directors' Remuneration Reporting Guidance 2016, 15.08.16)
On August 15, 2016 the City of London Law Society (CLLS) and Law Society Company Law Committees’ Joint Working Parties on Market Abuse, Share Plans and Takeovers Code issued a second Q&A on the Market Abuse Regulation (MAR). This Q&A follows an earlier Q&A on aspects of MAR issued in July 2016.
The Q&A sets out a suggested approach to implementing certain aspects of MAR, and provides answers to questions including the following:
Market soundings (Article 11)
Stake-building on a takeover
Person discharging managerial responsibilities (PDMR) dealings (Article 19)
The Joint Working Parties note that the Q&A is an explanation of how, in their view, MAR should apply to certain practical situations, but is subject to review and amendment in the light of practice on the implementation of MAR and any relevant future UK or EU guidance published in relation to MAR.
Publication
In February, we reported on the Department of Energy Security and Net Zero’s confirmation that a UK Carbon Border Adjustment Mechanism (CBAM) would be bought into force by 2027
Publication
Last November the Financial Conduct Authority (FCA) published Policy Statement 23/16 (PS23/16) containing final rules and guidance on sustainability disclosure requirements (SDR) and investment labels (UK SDR regime).
Publication
International financial markets have started to show significant interest in nature and biodiversity. Whilst climate change and greenhouse gas emissions have made the headlines in recent years, there has been much less focus on their equally important counterparts, nature and biodiversity. However, that has started to change.
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