APAC ESG Update | Winter Quarter 2023–24

The impact of ESG (environmental, social & governance) laws, regulations, and obligations has increased in recent times at an almost incomprehensible rate. This is particularly true in the Asia-Pacific ("APAC") region. Within APAC, the breadth and extent of recently introduced requirements and obligations are catching some companies off guard, and many are now expending significant resources to "catch up" with their obligations, which often differ country by country.

Enforcement actions and proceedings involving ESG elements are also increasing substantially throughout APAC, with regulators, stakeholders, and nontraditional claimants (including environmental groups) bringing extensive and demanding claims before decision-makers, often publicly, with devastating reputational and financial impact. Unfortunately, the superlatives here are not overused, particularly within APAC jurisdictions where substantial activities by legislatures, regulators, and courts mean