POLICIES & REGULATIONS

Although the European Commission maintains that its proposal for an EU Carbon Border Adjustment Mechanism (“CBAM”) is instrumental to achieving EU climate goals, without compromising the competitiveness of European industries, it has been reported that key trading partners are highly critical of the scheme. European industries and climate campaigners have also expressed some scepticism. More

The U.S. Court of Appeals for the Second Circuit on 10 August dismissed a price-fixing lawsuit against Hebei Welcome Pharmaceutical Co. and its parent company North China Pharmaceutical Group Corp. The dismissal of the 16.5-year old case represented a defeat for two U.S. companies that claimed they were overcharged for purchases of vitamin C and hinged on the finding of a “true conflict” between U.S. antitrust laws and mainland Chinese laws that applied to Hebei. More

Germany has adopted new legislation to ensure the protection of basic human rights and of the environment along global supply chains. The German Act on Corporate Due Diligence in Supply Chains (the “Supply Chain Due Diligence Act” - SCDDA) aims to protect rights of people who produce goods for the German market. Goods would include, for example, garments from Asia. Other examples are cocoa and fruit from Africa, and coffee from South America. More

The European Commission has presented its proposed Regulation for an EU Carbon Border Adjustment Mechanism (“CBAM”). The CBAM proposal forms part of the EU’s Fit for 55 Package which aims to set out a clear path towards achieving the EU’s ambitious target of a 55% reduction in carbon emissions (compared to 1990 levels) by 2030, with the aim of becoming a climate-neutral continent by 2050. More