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Stay of SEC’s Climate Rules Lifted (For Now) | Global Business and Human Rights
The court-ordered stay of the SEC’s new climate rules (discussed in our prior post here) has been lifted, at least for the time being. The stay was in effect for only a week and was lifted by the same court that imposed it, the United States Court of Appeals for the Fifth Circuit. The court
Federal Court of Appeals Stays SEC Climate Rule | Global Business and Human Rights
On Friday, March 15, 2024, the United States Court of Appeals for the Fifth Circuit issued an administrative stay on the application of the SEC’s new rules regarding climate-related disclosures for investors, which we covered in previous posts here, here and here. While similar litigation is pending in other jurisdictions, the Fifth Circuit was the
In Tackling the Demand Side of Global Corruption, New U.S. Law Accounts for the Potential Role of Companies | Global Business and Human Rights
Much has been said about the Foreign Extortion Prevention Act (“FEPA”) that President Biden signed into the law in December 2023, with particular attention given to the corrupt foreign officials who seek bribes from individuals or entities in the United States. By targeting the demand side of bribery, FEPA serves as a complement to the
Congress Begins 2024 with New Federal Human Rights Guidance in Sight | Global Business and Human Rights
A few days before Christmas, the Senate followed the House in bringing its legislative year to a swift but unsatisfying end. Although enough bipartisan goodwill was mustered to pass a massive National Defense Authorization Act for fiscal year 2024, lawmakers remain embroiled in bitter partisan squabbles that are paralyzing critical federal funding measures.Yet only hours
Foley Hoag Conducts Independent Human Rights Impact Assessment Commissioned by Microsoft | Global Business and Human Rights
Microsoft commissioned Foley Hoag to conduct a human rights impact assessment (HRIA) on the impact of Microsoft’s cloud and artificial intelligence technologies. Specifically, we sought to understand the impacts that such technologies have on communities of color in the United States when those technologies are licensed to law enforcement agencies. Microsoft commissioned the HRIA in
Nine Months In: What’s Happening with Forced Labor Implementation & What’s Next | Global Business and Human Rights
Nine months after the Uyghur Forced Labor Prevention Act (UFLPA) went into effect, the Biden Administration shows no signs of easing up on its tenacious enforcement of the Act’s import ban. At the same time, the Administration’s approach is still developing and it will take more data collection, multi-stakeholder information sharing, as well as insights
Russia and Belarus Sanctions Update – March 11, 2022 | Global Business and Human Rights
Key Takeaways: The Biden administration announces ban on import of Russian energy commodities and prohibition on new investment in the Russian energy sector New General License provides wind-down period until April 22, 2022 for certain energy imports from Russia pursuant to agreements entered into before March 8, 2022 EU and UK expand their sanctions programs
CBP Releases Guidance for Compliance Requirements Under the Uyghur Forced Labor Prevention Act | Global Business and Human Rights
Key Takeaways: Starting on June 21, 2022, all goods produced in whole or in part in the Xinjiang region or by entities on the UFLPA Entity List will be presumed to be made with forced labor and will be prohibited from entry into the U.S. Importers must provide “clear and convincing” evidence to CBP to
Russia and Belarus Sanctions Update – March 7, 2022: U.S. Sanctions, Export Restrictions Escalate as Conflict in Ukraine Continues | Global Business and Human Rights
Key Takeaways: U.S. imposes additional sanctions on Russian elites, along with their family members, companies, and personal vehicles Actions targeting the defense sector and Russian government-affiliated media outlets signal the expansion of U.S. sanctions to new industries SWIFT access to be denied to seven Russian banks on March 12, 2022 New export controls target Belarus
New U.S Legislation Would Require Forced Labor Audits | Global Business and Human Rights
On February 3, Senators Josh Hawley (R-MO) and Kirsten Gillibrand (D-NY) introduced the Slave-Free Business Certification Act of 2022. The legislation aims to provide U.S. policymakers with greater assurances that companies are taking concrete steps to eradicate forced labor where their supply chains directly involve workers’ inputs, but would also significantly increase their due diligence
Review of Sanctions and Export Controls Imposed in Response to Russia’s Invasion of Ukraine | Global Business and Human Rights
Key Takeaways: The initial wave of sanctions targeted Russian banks and the financial industry plus individual “inner circle” elites, with more sanctions likely to follow in the coming weeks as events unfold. Broad restrictions on debt and equity transactions with certain entities in the Russian financial, energy, and infrastructure sectors. Expanded export controls, including foreign-direct
Russia and Belarus Sanctions Update – March 15, 2022 | Global Business and Human Rights
Key Takeaways: New Executive Order prohibits certain imports and exports, and authorizes the Department of the Treasury to impose significant restrictions on U.S. investment in Russia Additional wave of sanctions targeting Russian “elites” close to President Vladimir Putin OFAC guidance clarifies that Russia-related sanctions prohibitions apply to cryptocurrency transactions ___________________________________________________________________________ On March 11, 2022, President
Proposed Legislation in New York Aims to Set New Standards for Worker Rights and Environmental Sustainability in Fashion Industry | Global Business and Human Rights
On January 7, New York State Senator Alessandra Biaggi (D) and Assemblywoman Anna R. Kelles (D) introduced the Fashion Sustainability Act into the New York State Legislature. If passed and signed into law, the Act would create significant reporting requirements related to environmental sustainability, social development (in particular worker rights), and ethical business (ESG) standards
Possible International Trade Consequences of Further Escalation of Conflict in Ukraine | Global Business and Human Rights
Key Takeaways: The U.S., EU, and UK are coordinating a significant sanctions and export controls package to be implemented if Russia takes further action in Ukraine. Restrictions are likely to target key Russian industries including finance, energy, and defense and would be far more severe and far-reaching than past sanctions. New export controls could include
Russia Sanctions Update – February 28, 2022: U.S. Imposes Sanctions on Central Bank of Russia, Ministry of Finance, and Sovereign Wealth Funds; Switzerland and Monaco Impose Unprecedented Sanctions | Global Business and Human Rights
Key Takeaways: New Directive 4 prohibits transactions with Russian Central Bank, National Wealth Fund, and Ministry of Finance Full blocking sanctions on Russian Direct Investment Fund and affiliates Multi-lateral response to Russia’s invasion continues with unprecedented imposition of sanctions by Switzerland and Monaco ____________________________________________________________________ On February 28, 2022, the U.S. government announced new sanctions on the Central
Russia and Belarus Sanctions Update – March 17, 2022 | Global Business and Human Rights
Key Takeaways: U.S., UK, and EU impose additional sanctions in response to Russia’s continued escalation of conflict in Ukraine U.S. imposes sanctions on human rights violators and senior Russian defense officials UK sanctions over 370 Russian individuals, including 51 oligarchs and their family members EU imposes investment and trade restrictions and sanctions Russian oligarchs, propagandists,