Reflecting sustainability criteria in pay is key to 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.
Spain: Publication of the Bill for an organic law on equal representation and a balanced presence of 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.
Spain: The CNMV analyzes ESG reporting by listed companies as required by the EU taxonomy
The report looks at the documentation provided by companies and provides some brief general recommendations to help improve the information published.
Spain: The public consultation period has begun for the draft bill regulating the corporate reporting framework on environmental, social and governance issues
The Council of Ministers agreed, on 3 May 2023, to initiate this procedure, which will be available until 25 May, to ensure that those interested in the text of the preliminary draft can make their contributions.
Spain: The steps for preparation of the Preliminary Bill for the Sustainability Reporting Law are officially in motion
Ministry of Economic Affairs and Digital Transformation will be responsible for carrying out the transposition of the corporate sustainability reporting directive (CSRD).
Directive on corporate sustainability reporting is published
The new EU legislation requires companies to report regularly on the effect of their activities on people and the environment.
The European Council approves EU law to improve gender balance on company boards
The directive lays down that at least 40% of directors of listed companies should be members of the underrepresented sex.
The reform that encourages long-term shareholder engagement at listed companies has been approved and it introduces amendments in terms of corporate governance and the functioning of capital markets
The Spanish parliament has approved the Law amending the Companies Act (Legislative Royal Decree 1/2010, of July 2, 2010) and other pieces of financial legislation, as regards the encouragement of long-term shareholder engagement at listed companies.
COVID-19: Remote meetings or taking action by written consent without holding a meeting are allowed for managing and administrative bodies of business and civil legal entities
Managing and administrative bodies of business and civil legal entities may as an exception in 2021 hold meetings by phone or remotely or take action by written consent without holding a meeting, even where not expressly permitted by their bylaws.
How climate change came to sit in the boardroom
Boards must take extreme care when informing about the effect of climate change on corporations’ transactions.