Today, a significant legal development in Latvia was published—the Sustainability Information Disclosure Law ("Ilgtspējas informācijas atklāšanas likums"). This law introduces stringent requirements for businesses operating in Latvia, particularly those registered as large or medium enterprises and those whose securities are traded on regulated markets. It aligns with EU sustainability standards and mandates comprehensive disclosure of environmental, social, and governance (ESG) factors.
Key Provisions:
- Sustainability Reporting: Large corporations, including subsidiaries of foreign entities, must provide detailed sustainability reports, outlining the environmental impact of their operations, their governance practices, and their adherence to social responsibility standards.
- Transparency in Reporting: Companies are required to clearly identify sustainability information within their management reports, ensuring transparency for stakeholders. This includes metrics on greenhouse gas emissions, climate neutrality strategies, and governance related to sustainability issues.
How Theodore Daniels Can Help
At Theodore Daniels we understand that these new regulations present both challenges and opportunities for businesses. Our firm offers specialized services to assist companies in fully complying with these new reporting obligations. We provide:
- Sustainability Reporting Guidance: Our team will help you navigate the complexities of preparing sustainability reports, ensuring that your disclosures meet both national and EU standards.
- Legal Compliance and Risk Management: We will guide you in implementing governance structures that align with the law's requirements, minimizing risks and ensuring regulatory compliance.
- Tailored ESG Solutions: We offer customized strategies to integrate sustainability practices into your business model, helping you not only comply but thrive under the new regulations.
By partnering with us, you will have the support of experienced legal professionals who are deeply familiar with the latest developments in corporate sustainability reporting.
Contact us today to ensure your business is compliant and positioned for long-term success.