Publications

The combination of a developing regulatory framework and heightened market expectations on both ESG disclosure and practices is creating a fertile ground for growth in litigation and regulatory sus­tain­ab­il­ity-re­lated risks for financial services firms. This is particularly the case against the backdrop of a significant uptick in claims brought by shareholders against companies and directors and the rise of climate activist litigators. Litigation funders are increasingly targeting ESG issues, enabling claimant groups to finance litigation against corporates, likely resulting in an increase in class actions. In addition to the substantial and evolving regulatory disclosure requirements for financial services, greenwashing is in sharper focus for regulators and su­per­visors. CMS have been supporting financial services firms with mapping these sus­tain­ab­il­ity-re­lated legal and regulatory risks, which are primarily connected to the publication of detailed information on sustainability matters – both at entity level and in financial product documentation. The priority questions we address are: How is the sus­tain­ab­il­ity-re­lated regulatory backdrop impacting the level of litigation and regulatory enforcement risk? What are the likely claims/en­force­ment that could arise? Who is likely to make a claim? If a claim/en­force­ment did occur, what is the likelihood of it succeeding and how does this relate to financial impact and reputational damage for our business?  We have various solutions to support with tackling this issue including:  training sessions - typically attendees come from all areas of the business with an interest in sustainability, most commonly legal, compliance and sustainability teams, to understand more of what the risks are and potential mitigation against them; sus­tain­ab­il­ity-re­lated litigation and regulatory risk matrix – mapping the risk of claims and enforcement that could arise, bespoke to your business. The matrix increases the understanding across personnel of the nature of the claims and enforcement that could arise and how to effectively mitigate against them; board packs – directors are increasingly in the greenwashing spotlight, with the requirements on them to take responsibility for sustainability strategies. Our board packs help unpack the legal and regulatory greenwashing risks in an appropriate format for directors. For an initial conversation on how we can support you on greenwashing risk, please reach out to the partners listed on this page or to your usual CMS contact.

CMS Funds Group Back to Basics briefings intend to provide high level insights regarding funds fundamentals, funds vehicles and operational considerations New briefings are published on a regular basis, covering a specific jurisdiction or topic, and providing basic essential technical explanations.

Key employment issues to be aware of internationally

In the era of increased environmental awareness, the spotlight on green claims has never been more intense. As consumers are concerned about global heating and ecological sustainability, they are scrutinizing products like never before, seeking eco-friendly options that align with their values. In response, businesses have responded to this concern and consumers’ purchase interest, with brand-owners increasingly highlighting the benign or even beneficial effects their products and services have on the environment fostering a surge in green marketing initiatives. Yet, amidst this push for sustainability, the risk of being accused of greenwashing is omnipresent. As environmental characteristics of products and services are highly technical and the understanding of the various concepts involved is continuously changing, en­vir­on­ment­al/sus­tain­ab­il­ity claims raise a significant risk of confusing and misleading consumers. Many companies have fallen foul of advertising standards in this area recently. Given the high sensitivity of environmental claims and the reputational damage that can result from allegations of greenwashing, it is particularly important to make sure environmental claims are compliant. By ensuring truthful, accurate and unambiguous information is always given to the consumers, companies can avoid the risks and build a reputation for authenticity in their sustainability advertising and communications. CMS guides companies through the maze of regulations and case law and advise on the steps a company can take to ensure their advertising is not only compliant but also authentic and impactful. The priority questions we address are: Which green claims are likely to raise litigation or regulatory enforcement risks?What can businesses do to mitigate these risks?What are the likely claims/en­force­ment that could arise?Who is likely to make a claim?What are the risks in the event of a violation or a complaint? What future regulatory measures are expected and what companies have to do now to be prepared? We offer various solutions to help you be compliant and avoid accusations of greenwashing: Sustainability claim checks including regulatory risk matrix as well as litigation: evaluating the planned claims and mapping their risk as well as developing compliant marketing strategies and claims custom-tailored to your business's unique pro­file;Sus­tain­ab­il­ity-re­lated litigation: providing comprehensive support in legal disputes in the area of advertising with environmental claims;Training sessions: to empower your legal, compliance and sustainability as well as advertising teams with in-depth knowledge of sustainability risks and mitigation strategies; andBoard packs: to equip your directors/board members with actionable insights into greenwashing risks, ensuring they steer the company toward sustainable strategies with confidence and integrity.  For an initial conversation on how we can support you on greenwashing risk, please reach out to the lawyers listed on this page or to your usual CMS contact.

Key takeaways from MWC 2024 and insights into The Mobile Century ‘Digital Generation’ publication. The GTWN and CMS are very proud to provide the transcript and recording of the recent GTWN/CMS webinar reflecting on the findings and insights of the Mobile World Congress as well as those written about in our flagship Mobile Century publication premiered at the Mobile World Congress, “Digital Generation’.

CMS is delighted to support The Mobile Century, a publication written by women in the digital space, published by the Global Telecom Women’s Network (GTWN). The Mobile Century provides a global perspective on the most important issues facing the digital technology sector, while championing the role and contribution of women leaders in bringing about meaningful change. These characteristics align closely with the professional and cultural values of CMS’ Technology, Media and Communications Practice. The promise and anticipation around Artificial Intelligence has captivated worldwide attention over the past year like no other recent technological revolution. Governments around the world have rushed to understand how they can respond to generative AI, ensuring that their industries are well placed to capture maximum value from this innovation, whilst also not exposing their populations to undue risks. This edition of The Mobile Century includes an insightful essay by CMS Partner and Co-Head of the TMC Sector Group, Dóra Petrányi on finding the appropriate balance between AI ethics and AI regulation. It also includes an inspiring fireside chat between Dóra and Francesca Rossi, who is a computer scientist, an IBM Fellow and the IBM Global AI Ethics Leader. At the same time, society is facing other new challenges, as the digital natives – those who only know a digital world – see all aspects of their lives transformed. As certain jobs and even professions are being transformed by digital technology, what does the future look like for those who are inheriting our digital world? What do governments, regulators and industry itself need to do to ensure the benefits of these technologies outweigh the risks that have emerged?At CMS, we continue to be honoured to support the GTWN and its flagship magazine The Mobile Century, which, once again, is dense with thought-pro­vok­ing articles from inspiring leaders. We hope the articles motivate you, as they do us, to think about our responsibilities and the wider impact of our companies on the world around us.

Key employment law developments and expected trends for 2024

Despite geopolitical tensions, fears of recession and strong inflationary pressures across the EU, as well as the fiscal tightening needed to contain them, M&A in the CEE region has remained reasonably buoyant. Findings from the CMS Emer­ging Europe M&A 2023/24 report, published in cooperation with EMIS, demonstrate the resilience of the Emerging Europe deals market as activity holds firm against a backdrop of geopolitical tensions and strong inflationary pressures. Welcome to the 2023/24 edition of the Emerging Europe report.

The M&A activity related to Energy plants and investments has strongly increased in the last years by undergoing significant transformation in the energy industry driven by technological advancements...

Land is a finite resource. As the world collectively pushes towards achieving Net Zero targets, more and more land will need to be used for renewable energy projects, including solar farms, wind farms...

Three Recent Developments in the EU’s Treatment of Energy Disputes  In the past five years, the EU has taken an increasingly aggressive stance against intra-EU investor-State dispute settlement (“ISDS”)...