Issue 42: February 22, 2024

Litigation

A US federal court permitted putative class action claims against Danone to proceed to discovery. The lawsuit concerns labeling and packaging on the company's Evian bottled water. Plaintiffs allege that consumers were misled by statements that production of the bottles was "sustainable," "carbon neutral," and "did not leave a carbon footprint." In the ruling Federal District Judge Nelson S. Román concluded the term "carbon neutral" ambiguous for consumers. The decision may encourage similar claims against other advertisers.

Reporting

China's three major stock markets announced mandatory sustainability reporting guidelines for listed companies. Notably, the rules include reporting on Scope 3 value chain greenhouse gas emissions. The new guidelines will mandate reporting for larger corporations, including those with dual-listed securities traded on both domestic and international markets. The reporting requirements will apply to an estimated 450