STOP PRESS: This Practice Note is in the process of being updated to reflect the publication of Commission Delegated Regulation (EU) 2026/1563 in the Official Journal. Regulation (EU) 2026/1563 makes simplifying amendments to Delegated Regulation (EU) 2023/2772 (the ESRS) and will apply for financial years beginning on or after 1 January 2027. For more information, see LNB News 22/09/2026 23. EU mandatory corporate sustainability reporting—core legal framework Corporate sustainability, or performance in respect of ‘environmental social governance’ (ESG) criteria, has become increasingly important to investors, customers and employees in recent years. In response to this, there has been a rapid development of ESG criteria (also referred to as ESG metrics or factors) against which the performance of a, usually corporate, entity can be evaluated. The overarching goal of the mandatory and voluntary ESG reporting frameworks developing in the EU and globally is to collect measurable data to show whether corporate entities are truly ‘sustainable’ in respect of each ESG metric relevant to their business and to make that data as

EU mandatory corporate sustainability reporting—core legal framework Corporate sustainability, or performance in respect of ‘environmental social governance’ (ESG) criteria, has become increasingly important to investors, customers and employees in recent years. In response to this, there has been a rapid development of ESG criteria (also referred to as ESG metrics or factors) against which the performance of a, usually corporate, entity can be evaluated. The overarching goal of the mandatory and voluntary ESG reporting frameworks developing in the EU and globally is to collect measurable data to show whether corporate entities are truly ‘sustainable’ in respect of each ESG metric relevant to their business and to make that data as transparent as possible for investors and other stakeholders. In the EU, the primary piece of legislation governing mandatory sustainability reporting is Directive 2013/34/EU on the annual financial statements, consolidated financial statements and related reports of certain types of undertakings (the EU Accounting Directive), as amended by: • Directive 2014/95/EU (the Non-Financial Reporting Directive (NFRD)), which entered into force on 5 December 2014 and applied

Environment analysis: On 10 March 2021, the European Parliament voted by an overwhelming majority for the adoption of a binding EU law that requires companies to conduct environmental and human rights due diligence along their full value chain or face concrete fines, sanctions and/or civil liability. Jo En Low, partner, and Suyin Tan, senior associate, from the London office of the energy-focused law firm Bracewell provide a brief overview of the key elements of the European Parliament’s report, including whether any similar developments can be expected in the UK.

Law360, London: The EU's financial markets regulator said 10 October 2025 it will expand its supervisory responsibilities into a raft of new areas in 2026, including sustainability ratings, green bond issuance and the giant information technology service providers.

STOP PRESS: On 20 June 2025, the Commission indicated its intention to withdraw its proposal for the EU Green Claims Directive, prompting the Council of the EU to cancel trilogue negotiations with the European Parliament scheduled to commence on 23 June 2025. The Commission has since rowed back from this position, suggested that its decision is subject to further discussion with the Council and the Parliament as to possible carve-outs for microenterprises. This Practice Note will be updated in due course, subject to any further statement or confirmation from the Commission. Greenwashing and misleading environmental claims—introduction In the context of the triple planetary crisis, ie the three intersecting crises of climate change, pollution, and biodiversity loss, consumers are increasingly concerned with the environmental impacts of the goods and services they buy. Companies therefore have an incentive to actively promote their environmental credentials. Where environmental claims give a false or misleading impression of products’ actual environmental impact or benefits—intentionally or otherwise—this is referred to as ‘greenwashing’. If environmental claims are not reliable,

This Practice Note provides an overview of key media content regulation in the EU including in relation to broadcasting, social media, video-on-demand (VoD) platforms, and press and magazines. Its focus is on regulation applicable to content which appears in these types of media—a form of regulation which has noticeably increased in recent years in response to the need to, for example, regulate illegal content appearing on social media. The regulation referred to in this Practice Note applies (or will apply) generally across the EU. However, EU Member States may also have individual regulators which may have powers to impose additional rules specific to the Member State territory (in the same way as Ofcom regulates the UK media). EU audiovisual regulators are listed on the European Commission website. While the legislation discussed in this Practice Note is not effective in the UK, it remains of relevance to UK businesses which continue to operate in the EU. Broadcasting (television and radio) Broadcasting is the transmission of programmes or information by television or radio. The EU AVMS Directive Directive

Any of the following: Austria, Belgium, Bulgaria, Croatia, Czech Republic, Cyprus, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain or Sweden.

Eighteen European Union member states signed a Joint Declaration of Intent on the margins of the Transport Council in Luxembourg. The declaration, endorsed alongside EU Commissioner for Sustainable Transport and Tourism Apostolos Tzitzikostas, commits the signatories to establishing large-scale cross-border testbeds for autonomous vehicles. This milestone, achieved under the European Automotive Action Plan, reflects a collective ambition to accelerate the harmonised and safe deployment of autonomous vehicles across Europe.

The European Union (EU) member states have updated the EU list of non-cooperative tax jurisdictions for tax purposes (Annex I) by removing four jurisdictions - The Bahamas, Belize, Seychelles, and Turks and Caicos Islands

NOTE—to see whether notification thresholds in the EU and throughout the world are met, see further: Where to Notify. 1. Have there been any recent developments regarding EU merger control and are any updates/developments expected in the coming year? Are there any other ‘hot’ EU merger control issues? On 12 January 2023, Regulation 2022/2560 on Foreign Subsidies (FSR) entered into effect. Through this regulation, the Commission has attempted to address potential distortions of EU competition that may occur as the result of substantial financial investments from non-Member States. The FSR requires mandatory notification of concentrations and public procurement proceedings that fall within certain thresholds, but also empowers the Commission to initiate ex-officio investigations of foreign subsidies in other contexts. In the context of mergers, as of 12 October 2023, the FSR requires mandatory notification (separate from and in addition to any applicable merger control notifications) of all transactions that meet the following thresholds: (i) the target, JV or at least one of the merging parties is established in the EU and generates an aggregate turnover in

Law360, Expert Analysis: On 3 September 2024, the European Court of Justice (ECJ) handed down its judgment in joined cases Illumina Inc. v. European Commission and Grail LLC v. Commission.

Overview Joint ventures encompass a broad rand of commercial operations, ranging from fully-fledged merger-like operations to co-operation limited to particular functions such as production, distribution or research and development (R&D). The aim of this questionnaire is to obtain sufficient information about the activities of the joint venture to enable a preliminary assessment as to whether it is a full-function joint venture for the purposes of the EU Merger Regulation (Council Regulation No 139/2004 on the control of concentrations between undertakings). If it is a full-function venture with an EU dimension (in that the turnover thresholds are met), then the joint venture must be notified to the European Commission (the Commission) and it cannot be implemented until the Commission has declared it to be compatible with the internal market. If the joint venture is not full-function and takes the form of a partnership to a large extent dependent on its parent companies, the creation of the joint venture will not have to be notified, but the Commission may operate a control after the fact, in light