- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Kyle Brasseur2024-02-29T20:54:00
Two U.S. subsidiaries of Brazilian meat processing company JBS are the subject of a lawsuit filed by the New York attorney general accusing the businesses of using misleading statements and marketing regarding their environmental commitments.
The lawsuit, filed Wednesday, claims JBS USA Food Company and JBS USA Food Company Holdings have assured consumers they are taking substantial actions to reduce their greenhouse gas (GHG) emissions and mitigate the impacts of their agricultural practices on the environment, despite documented plans that indicate the company intends to increase production in a manner that will increase its carbon footprint.
New York Attorney General Letitia James accused JBS of “greenwashing,” most notably regarding its net zero by 2040 pledge that she alleged the company has “no viable plan” to achieve.
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Athletic apparel company Lululemon is under investigation by the Canadian Competition Bureau regarding whether it made misleading claims about environmental aspects of its business.
The U.K. Financial Conduct Authority issued new guidance on how to comply with its upcoming anti-greenwashing rule, which is set to take effect May 31.
Legal experts are advising their public company clients to move forward with plans to comply with the SEC’s climate-related disclosure rule, despite lawsuits and other challenges being brought against the controversial policy in the aftermath of its approval.
A lack of risk visibility is causing companies to reject customers–and potentially lose money–over fears they might be in danger of violating rules around anti-money laundering and sanctions regulations.
The Treasury Department’s Financial Crimes Enforcement Network updated an alert first issued in February warning financial institutions of Israeli extremists fomenting violence in the West Bank.
A Bank of England report warned of private equity risk management deficiencies as interest rates remain stagnant, with international coordination important.
