Norton Rose Fulbright
Authors
Articles by company
“Double materiality”: what does it mean for non-financial reporting?
Companies have been publicly reporting on their financial performance for over a hundred years. However, they are increasingly having to make public non-financial disclosures relating to sustainability and environmental, social and governance (ESG) matters as a result of rules, laws and regulations issued by stock exchanges, governments and regulators worldwide. In the context of non-financial reporting, there has been increasing awareness of the concept of “double materiality” in recent years. In this article we clarify what “double materiality” means and provide the context of its regulatory background within the EU. We also consider the significance of “double materiality” and give our views on the potential consequences for companies of non-compliance.
1 APR 2023Regulation Update – June 2023
A round-up of regulatory changes by Simon Lovegrove of Norton Rose Fulbright
1 JUN 2023Regulation Update – February 2024
A round-up of regulatory changes by Simon Lovegrove of Norton Rose Fulbright
1 FEB 2024Regulation Update – December 2023
A round-up of regulatory changes by Simon Lovegrove of Norton Rose Fulbright
1 DEC 2023Regulation Update – March 2024
A round-up of regulatory changes by Simon Lovegrove of Norton Rose Fulbright
1 MAR 2024Regulation Update – October 2023
A round-up of regulatory changes by Simon Lovegrove of Norton Rose Fulbright
1 OCT 2023Regulation Update – November 2023
A round-up of regulatory changes by Simon Lovegrove of Norton Rose Fulbright
1 NOV 2023Taking effective security over future acquired assets: the importance of contractual intention
Taking security over after acquired assets is often linked in case law to the equitable remedy of specific performance transforming a contractual right into a proprietary one to the charged property; an essential element to secured finance structures. A closer analysis illustrates contractual intention of the parties, rather than specific performance, is the key factor.
1 OCT 2023Regulation Update – January 2024
A round-up of regulatory changes by Simon Lovegrove of Norton Rose Fulbright
1 JAN 2024International financing structures: increased focus on withholding tax
The ability to obtain withholding tax relief on interest payments is crucial in many international financing structures. For borrowers, without treaty relief, the cost of borrowing from a non-domestic lender increases significantly; in the absence of relief, domestic withholding tax is likely to apply, so the borrower must increase the payment due to the lender, under a so-called gross up clause. This is not entirely one-way; a lender based in a jurisdiction without access to a network of favourable tax treaties is likely to find it too difficult to lend money to foreign borrowers at similar returns to those lenders with access to a wide treaty network. These issues arise not only for third party lenders, but also where a group wishes to finance its international operations. In either case, the parties involved will want to prevent any withholding tax leakage.
1 FEB 2024
Go to page
of
6
