The requirements for sustainability and corporate social responsibility (ESG) are becoming increasingly stringent – whether in relation to climate, the environment, human rights or good business practice. This development is driven both by authorities through new laws and regulations, and by investors, owners and other key stakeholders.
Norwegian and international companies now face a landscape of rapidly expanding regulations in the areas of reporting, accountability, and transparency – including the Freedom of Information Act, the Climate Act, the Environmental Information Act, the Taxonomy and an ever-increasing number of EU regulations, such as the Corporate Sustainability Reporting Directive (CSRD). In addition, there are international conventions and agreements, as well as international principles and industry standards, such as the OECD Guidelines for Responsible Business Conduct and the Task Force on Climate-related Financial Disclosures (TCFD) or the Global Reporting Initiative (GRI). This leads to an increased risk of litigation and disputes, for example:
- Climate litigation brought by organisations, investors or private individuals against companies, board members or states
- Claims for damages or regulatory responses in cases of alleged greenwashing or inadequate sustainability information
- Disputes concerning compliance with human rights in the value chain, for example under the Transparency Act
- Activism by shareholders or other stakeholders who make demands regarding the company’s strategy, reporting or actions
Such cases can be business-critical, challenging and often evolve in line with changing case law and new regulations. Effectively managing litigation and risk requires insight into the law, sustainability trends, industries and business-specific circumstances.
Thommessen is a leader in climate and sustainability law in Norway. We assist companies, board members and investors in understanding risks and liabilities, adapting their businesses to new requirements, as well as providing strategic advice and handling any disputes. Our team has specialist expertise in environmental law, company law, compliance and reporting, and closely monitors developments. This includes new EU regulations, their implementation in Norway, and the development of case law in Norway and internationally.
It is crucial to get started early with proper risk assessment and proactive management – both to ensure accurate reporting and to prepare for potential claims, reactions or legal action from authorities, investors or other stakeholders.
We provide practical, business-oriented advice and support our clients throughout the entire process – from risk assessment, dialogue with regulatory authorities and drafting communications, to representation in court.
