## [Garrigues Sustainable Newsletter - January 2024](/en_GB/new/garrigues-sustainable-newsletter-january-2024)
# Garrigues Sustainable Newsletter - January 2024
Spain - 01 / 29 / 2024
[](https://www.garrigues.com/en_GB/services/garrigues-sustainable)
-
- [](https://www.linkedin.com/sharing/share-offsite/?url=https://www.garrigues.com/en_GB/new/garrigues-sustainable-newsletter-january-2024)
- []()
- []()
Previous Next
**In this newsletter we compile the most relevant legal news on ESG matters in Spain, published by Garrigues and G-advisory.**
## [**2024: main new legislation needing to be considered by companies in Spain**](https://www.garrigues.com/en_GB/new/2024-main-new-legislation-needing-be-considered-companies-spain)
Professionals in the various practice areas at Garrigues take a look, from all angles of business law, at the main new legislation that companies will face in the coming year.
## [**Reflecting sustainability criteria in pay is key to achieving ESG goals**](https://www.garrigues.com/en_GB/new/reflecting-sustainability-criteria-pay-key-achieving-esg-goals)
An increasing number of companies are taking sustainability criteria into consideration not only in executive and director pay, but also in the pay of their staff as a whole, in order to better achieve their ESG goals. We addressed this dynamic in the 'Garrigues Sustainable dialogs'.
## [**Takeaways from COP28 from a European perspective**](https://www.garrigues.com/en_GB/new/takeaways-cop28-european-perspective)
Following the conclusion of the Climate Summit, we analyze the agreements reached and the challenges that the goals it set raise at the European level, in a new edition of 'Garrigues Sustainable dialogs'.
## [**The proposed corporate sustainability due diligence directive: a huge challenge that companies need to be prepared for**](https://www.garrigues.com/en_GB/new/proposed-corporate-sustainability-due-diligence-directive-huge-challenge-companies-need-be)
Coinciding with the 75th anniversary of the Universal Declaration of Human Rights, the legislation being prepared by the European Union in this area and, more specifically, the proposal for a directive on corporate sustainability due diligence, has been analyzed in a new edition of the Garrigues Sustainable Dialogs, featuring the Chair of the European Parliament Committee on Legal Affairs and experts from Garrigues.
### **Regulation**
[**Implementation guidance documents and other news connected with the European sustainability reporting standards (ESRS)**](https://www.garrigues.com/en_GB/new/implementation-guidance-documents-and-other-news-connected-european-sustainability-reporting)
EFRAG, the European Commission’s independent technical advisory body for preparation of the sustainable reporting standards, launched a public consultation on the first implementation guidance documents and the standards for SMEs. Furthermore, the European Parliament has approved a two-year delay for the elaboration of sector-specific standards and of standards for sustainability reporting by companies outside the EU.
[**Spain: New measures for the electricity sector in Royal Decree-Law 8/2023**](https://www.garrigues.com/en_GB/new/spain-new-measures-electricity-sector-royal-decree-law-82023)
The royal decree-law includes several new provisions that directly affect the electricity system, notably influencing the development of renewable energy plants and self-supply plants.
[**OJEU publishes the first set of sustainability reporting standards (ESRS)**](https://www.garrigues.com/en_GB/new/ojeu-publishes-first-set-sustainability-reporting-standards-esrs)
They will apply for fiscal years starting on or after January 1, 2024.
[**Spain - Tax incentives for patronage: higher personal income tax credits and corporate income tax credits**](https://www.garrigues.com/en_GB/new/spain-tax-incentives-patronage-higher-personal-income-tax-credits-and-corporate-income-tax)
Plus, for gifts, the giver can receive goods or services from the recipient which are token in nature, and for collaboration agreements, the economic support can be in cash or in kind or consist of supplies of services where they are part of the collaborator’s specific activity.
[**EU: The Regulation allowing securitization bonds to be designated as European Green Bonds has been published**](https://www.garrigues.com/en_GB/new/eu-regulation-allowing-securitization-bonds-be-designated-european-green-bonds-has-been)
European Regulation 2023/2631, which will become applicable on December 21, 2024, envisages this option for securitization bonds, except in the case of bonds issued for synthetic securitization purposes.
[**The Corporate Sustainability Due Diligence Directive, a step closer to final approval**](https://www.garrigues.com/en_GB/new/corporate-sustainability-due-diligence-directive-step-closer-final-approval)
The Council and the European Parliament have reached a provisional agreement on the future directive on corporate sustainability due diligence.
[**Spain: Publication of the Bill for an organic law on equal representation and a balanced presence of women and men**](https://www.garrigues.com/en_GB/new/spain-publication-bill-organic-law-equal-representation-and-balanced-presence-women-and-men)
This proposal transposes into Spanish law the European directive on improving the gender balance among directors of listed companies and related measures, although it is more demanding in its scope than the provisions in the EU act.
[**The European Parliament approves the Directive on Greenwashing**](https://www.garrigues.com/en_GB/new/european-parliament-approves-directive-greenwashing)
The new European regulation, which aims to prevent unfair commercial practices, will have to continue its process before the Council of the EU for its final approval and its subsequent publication in the Official Journal of the European Union.
[**Spain: The processing of the Draft Law on the Prevention of Food Loss and Waste is resumed**](https://www.garrigues.com/en_GB/new/spain-processing-draft-law-prevention-food-loss-and-waste-resumed)
The law, which proposes new requirements for all actors in the food chain, aims to encourage the efficient use of food and promote good practices.
[**Spain: The update of the National Air Pollution Control Programme 2023-2030 is approved**](https://www.garrigues.com/en_GB/new/spain-update-national-air-pollution-control-programme-2023-2030-approved)
The document, which affects various economic sectors, sets a series of emission reduction targets for 2030.
### **Trends**
[**COP28: these are the tax incentives in Spain aimed at boosting climate action**](https://www.garrigues.com/en_GB/new/cop28-these-are-tax-incentives-spain-aimed-boosting-climate-action)
Spanish tax legislation envisages a number of incentives to promote renewable energies and sustainable vehicles which may facilitate the transformation needed to achieve climate objectives.
[**Climate change reaches the civil courts: what types of legal action can companies face?**](https://www.garrigues.com/en_GB/new/climate-change-reaches-civil-courts-what-types-legal-action-can-companies-face)
Increasingly, the courts are becoming a new scenario for the fight against climate change. We analyze the growing number of claims being brought against private entities related to the environment, together with the different types of action that claimants are taking.
[**New Renewable Energy Directive introduces significant changes in way projects are processed**](https://www.garrigues.com/en_GB/new/new-renewable-energy-directive-introduces-significant-changes-way-projects-are-processed)
We look at the main benefits for projects located in renewables acceleration areas or the permit-granting process, among other changes introduced by the recently enacted EU legislation that the Member States must incorporate into national law before May 21, 2025.
### **Latin America**
[**Colombia: Companies must elaborate and file corporate sustainability reports that reveals the reality of their corporate practices**](https://www.garrigues.com/en_GB/new/colombia-companies-must-elaborate-and-file-corporate-sustainability-reports-reveals-reality)
The Superintendence of Companies has issued administrative recommendations for the submission of corporate sustainability reports that certain entities must prepare.
[**Peru: New opportunity to submit the Detailed Environmental Plan for the development of hydrocarbon activities**](https://www.garrigues.com/en_GB/new/peru-new-opportunity-submit-detailed-environmental-plan-development-hydrocarbon-activities)
A draft amendment to the Regulations for Environmental Protection in Hydrocarbon Activities incorporates new elements for the regularization of activities in this field that have been carried out without an approved environmental management instrument.
### **Garrigues Sustainable**
[**Garrigues continues to be the top-ranked law firm in the Merco Responsibility ESG ranking**](https://www.garrigues.com/en_GB/new/garrigues-continues-be-top-ranked-law-firm-merco-responsibility-esg-ranking)
Garrigues has again been recognized as one of the 100 most responsible companies in Spain according to the 2023 Merco Responsibility ESG ranking published today.
[**Garrigues ranks first among EU firms according to GreenPrint**](https://www.garrigues.com/en_GB/new/garrigues-ranks-first-among-eu-firms-according-greenprint)
RSGI’s research analyzes the sustainability strategy, commitments and reporting of the 180 largest law firms by revenue worldwide.
[**The fight for the environment goes to court**](https://cincodias.elpais.com/extras/entorno/2023-11-30/estados-empresas-y-bancos-a-juicio-por-no-luchar-lo-suficiente-contra-el-cambio-climatico.html)
Climate litigation is gaining prominence in the race to meet the targets of the Paris Agreement and to safeguard the plant. In this Cinco Días article, Garrigues partners Javier Fernández Rivaya and Victoria Esteban, together with Luis Cabrera, ESG principal at G-advisory, address the key issues of the current legal landscape.
**G-advisory, Garrigues’ consulting arm offering technical, economic and strategic advice on energy and ESG matters, present at COP28**
Luis Cabrera, ESG principal at G-advisory, participated in COP28 Dubai, this past December as a speaker in a roundtable discussion on "Energy in industrial decarbonization", in which the challenges of industrial decarbonization were analyzed and solutions such as electrification and the use of energy carriers were highlighted ([click for the video](https://www.youtube.com/live/jfRFPIMpF3o?si=KhjuJQy-QHr9qWQ4&t=1223)).
[Sustainability](/en_GB/tags/sustainability), [Spain](/en_GB/tags/spain)
### Contacts
[Rosa Zarza](/en_GB/team/rosa-zarza-jimeno)
[Contact]()
- +34 91 514 52 00
[Madrid](https://www.garrigues.com/en_GB/office/madrid)
[Javier Fernández](/en_GB/team/javier-fernandez-rivaya)
[Contact]()
- +34 91 514 52 00
[Madrid](https://www.garrigues.com/en_GB/office/madrid)
[Eva Díez-Ordás](/en_GB/team/eva-diez-ordas)
[Contact]()
- +34 91 514 52 00
[Madrid](https://www.garrigues.com/en_GB/office/madrid)
[Sergio González](/en_GB/team/sergio-gonzalez-galan)
[Contact]()
- +34 91 514 52 00
[Madrid](https://www.garrigues.com/en_GB/office/madrid)
[José María Cobos](/en_GB/team/jose-maria-cobos-gomez)
[Contact]()
- +34 91 514 52 00
[Madrid](https://www.garrigues.com/en_GB/office/madrid)
[Máximo Martín](/en_GB/team/maximo-martin-jimenez)
[Contact]()
- +34 91 514 52 00
[Madrid](https://www.garrigues.com/en_GB/office/madrid)
[Find more professionals](../team)
### Related services
- [Dispute Resolution: Litigation and Arbitration ](/en_GB/services/dispute-resolution-litigation-and-arbitration)
- [Corporate and M&A ](/en_GB/services/corporate-and-ma)
- [Labor and Employment ](/en_GB/services/labor-and-employment)
- [Sustainability ](/en_GB/services/sustainability)
- [Tax ](/en_GB/services/tax)
-
## Find a publication
- [Administrative and Constitutional Law](/en_GB/markdownify/node/13566?f%5B0%5D=service%3A1422)
- [Agribusiness and Food](/en_GB/markdownify/node/13566?f%5B0%5D=service%3A1417)
- [Automotive](/en_GB/markdownify/node/13566?f%5B0%5D=service%3A1419)
- [Banking and Finance](/en_GB/markdownify/node/13566?f%5B0%5D=service%3A1443)
- [Corporate and M&A](/en_GB/markdownify/node/13566?f%5B0%5D=service%3A1441)
- [Corporate Governance and Sustainable Development](/en_GB/markdownify/node/13566?f%5B0%5D=service%3A12823)
- [Criminal Law and Internal Investigations](/en_GB/markdownify/node/13566?f%5B0%5D=service%3A1434)
- [Data Economy, Privacy and Cybersecurity](/en_GB/markdownify/node/13566?f%5B0%5D=service%3A10913)
- [Dispute Resolution: Litigation and Arbitration](/en_GB/markdownify/node/13566?f%5B0%5D=service%3A1412)
- [Energy](/en_GB/markdownify/node/13566?f%5B0%5D=service%3A10916)
- [EU and Antitrust Law](/en_GB/markdownify/node/13566?f%5B0%5D=service%3A1416)
- [Family Business](/en_GB/markdownify/node/13566?f%5B0%5D=service%3A1413)
- [Fashion Law](/en_GB/markdownify/node/13566?f%5B0%5D=service%3A1435)
- [Financial Regulation](/en_GB/markdownify/node/13566?f%5B0%5D=service%3A10915)
- [G-advisory](/en_GB/markdownify/node/13566?f%5B0%5D=service%3A12821)
- [Human Capital Services](/en_GB/markdownify/node/13566?f%5B0%5D=service%3A1431)
- [Infrastructure](/en_GB/markdownify/node/13566?f%5B0%5D=service%3A10914)
- [Insurance](/en_GB/markdownify/node/13566?f%5B0%5D=service%3A1438)
- [Intellectual Property](/en_GB/markdownify/node/13566?f%5B0%5D=service%3A1421)
- [Labor and Employment](/en_GB/markdownify/node/13566?f%5B0%5D=service%3A1424)
- [Life Sciences and Healthcare](/en_GB/markdownify/node/13566?f%5B0%5D=service%3A1429)
- [Media and Entertainment](/en_GB/markdownify/node/13566?f%5B0%5D=service%3A1433)
- [Planning, Zoning and Environment](/en_GB/markdownify/node/13566?f%5B0%5D=service%3A1444)
- [Private Equity](/en_GB/markdownify/node/13566?f%5B0%5D=service%3A1439)
- [Real Estate](/en_GB/markdownify/node/13566?f%5B0%5D=service%3A10927)
- [Restructuring and Insolvency](/en_GB/markdownify/node/13566?f%5B0%5D=service%3A1420)
- [Securities Markets](/en_GB/markdownify/node/13566?f%5B0%5D=service%3A1442)
- [Sports](/en_GB/markdownify/node/13566?f%5B0%5D=service%3A1430)
- [Startups & Open innovation](/en_GB/markdownify/node/13566?f%5B0%5D=service%3A1426)
- [Sustainability](/en_GB/markdownify/node/13566?f%5B0%5D=service%3A10921)
- [Tax](/en_GB/markdownify/node/13566?f%5B0%5D=service%3A1425)
- [Technology, Communications and Digital](/en_GB/markdownify/node/13566?f%5B0%5D=service%3A1436)
- [Tourism and Hotels](/en_GB/markdownify/node/13566?f%5B0%5D=service%3A1432)
- [Transport, Logistics and Shipping](/en_GB/markdownify/node/13566?f%5B0%5D=service%3A1428)
Facet Services detail
- [Publications](/en_GB/markdownify/node/13566?f%5B0%5D=publication_type%3A794)
- [Newsletters](/en_GB/markdownify/node/13566?f%5B0%5D=publication_type%3A107)
- [Garrigues collection](/en_GB/markdownify/node/13566?f%5B0%5D=publication_type%3A101)
- [Laws: amendments at a glance](/en_GB/markdownify/node/13566?f%5B0%5D=publication_type%3A104)
- [News](/en_GB/markdownify/node/13566?f%5B0%5D=publication_type%3A105)
Facet Publication type detail
Min
Max
## News search engine