{"id":48078,"date":"2024-08-27T16:48:21","date_gmt":"2024-08-27T21:48:21","guid":{"rendered":"https:\/\/phrlegal.pixelpro.one\/?p=48078"},"modified":"2024-09-04T19:10:51","modified_gmt":"2024-09-05T00:10:51","slug":"cop-16-corporate-sustainability-reports","status":"publish","type":"post","link":"https:\/\/phrlegal.pixelpro.one\/en\/cop-16-corporate-sustainability-reports\/","title":{"rendered":"COP 16 &#8211; Corporate sustainability reports"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"48078\" class=\"elementor elementor-48078\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<section class=\"has_ae_slider elementor-section elementor-top-section elementor-element elementor-element-d486d8a elementor-section-boxed elementor-section-height-default elementor-section-height-default ae-bg-gallery-type-default\" data-id=\"d486d8a\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"has_ae_slider elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-2b9a678 ae-bg-gallery-type-default\" data-id=\"2b9a678\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-a146497 elementor-widget elementor-widget-text-editor\" data-id=\"a146497\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span data-contrast=\"auto\">In this way, it is important to be clear about legal obligations and the proper implementation of reporting standards such as the TNFD, as they can influence investment decisions. Well, in some cases, companies have hesitated to make investments in new businesses and projects due to ignorance of the legal duties derived from these reports.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">With the arrival of the COP16 on Biodiversity in Colombia, the management of business risks related to sustainability, specifically with nature, will take on greater relevance. This meeting will be a central platform to advance the achievement of the objectives of the Convention on Biological Diversity and follow up on the Kunming-Montreal Global Biodiversity Framework.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"has_ae_slider elementor-section elementor-top-section elementor-element elementor-element-0c0a38e elementor-section-boxed elementor-section-height-default elementor-section-height-default ae-bg-gallery-type-default\" data-id=\"0c0a38e\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"has_ae_slider elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-20dd667 ae-bg-gallery-type-default\" data-id=\"20dd667\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-f0adb21 elementor-widget elementor-widget-image\" data-id=\"f0adb21\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" width=\"1024\" height=\"176\" src=\"https:\/\/phrlegal.pixelpro.one\/wp-content\/uploads\/2024\/08\/cop-16-corporate-sustainability-reports-1-1024x176.jpg\" class=\"attachment-large size-large wp-image-48087\" alt=\"\" srcset=\"https:\/\/phrlegal.pixelpro.one\/wp-content\/uploads\/2024\/08\/cop-16-corporate-sustainability-reports-1-1024x176.jpg 1024w, https:\/\/phrlegal.pixelpro.one\/wp-content\/uploads\/2024\/08\/cop-16-corporate-sustainability-reports-1-300x52.jpg 300w, https:\/\/phrlegal.pixelpro.one\/wp-content\/uploads\/2024\/08\/cop-16-corporate-sustainability-reports-1-768x132.jpg 768w, https:\/\/phrlegal.pixelpro.one\/wp-content\/uploads\/2024\/08\/cop-16-corporate-sustainability-reports-1.jpg 1280w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"has_ae_slider elementor-section elementor-top-section elementor-element elementor-element-7a459f0 elementor-section-boxed elementor-section-height-default elementor-section-height-default ae-bg-gallery-type-default\" data-id=\"7a459f0\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"has_ae_slider elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-d1ba521 ae-bg-gallery-type-default\" data-id=\"d1ba521\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-dd900b5 elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"dd900b5\" data-element_type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"has_ae_slider elementor-section elementor-top-section elementor-element elementor-element-fbec663 elementor-section-boxed elementor-section-height-default elementor-section-height-default ae-bg-gallery-type-default\" data-id=\"fbec663\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"has_ae_slider elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-26076a4 ae-bg-gallery-type-default\" data-id=\"26076a4\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-b7f971b elementor-widget elementor-widget-text-editor\" data-id=\"b7f971b\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span data-contrast=\"auto\">The TNFD <em>(Taskforce on Nature-related Financial Disclosures),<\/em> published in September 2023, is a framework that determines recommendations to identify and manage each company&#8217;s own nature-related risks, and disclose the corresponding information. This framework groups both financial materiality and impact materiality, recommending risk management from a perspective of double materiality, which allows a broader vision of the <strong>sustainability of companies<\/strong>, benefiting all its stakeholders by providing an image more complete of its practices and businesses.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">However, it should be taken into account that companies usually question the appropriate procedure to establish the materiality, from a quantitative and qualitative perspective, of the information to be reported. Determining this materiality is essential, since the information disclosed and the language used must be aligned with the companies&#8217; risk management system, to mitigate, among others, legal and reputational risks.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">In this way, it is important to be clear about legal obligations and the proper implementation of reporting standards such as the TNFD, as they can influence investment decisions. Well, in some cases, <strong>companies<\/strong> have hesitated to make investments in new businesses and projects due to ignorance of the legal duties derived from these reports. It is therefore relevant that regulations are clear and that companies fully understand their responsibilities to avoid slowing development and investment.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">It is essential that companies train themselves on these issues and, as indicated by the TNFD, balance the costs and efforts of preparing sustainability reports, without forgetting that the objective is to demonstrate the veracity and coherence of their ESG practices, find opportunities in risk management, guarantee legal compliance and sustainability in the medium and long term.<\/span><\/p><p><em>Johanna Mart\u00ednez *Asociada de Posse Herrera Ru\u00edz<\/em><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p><p><a href=\"https:\/\/www.elheraldo.co\/columnas-de-opinion\/johanna-martinez\/cop-16-reportes-de-sostenibilidad-de-las-empresas-columna-de\">https:\/\/www.elheraldo.co\/columnas-de-opinion\/johanna-martinez\/cop-16-reportes-de-sostenibilidad-de-las-empresas-columna-de<\/a><\/p><p>\u00a0<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>In this way, it is important to be clear about legal obligations and the proper implementation of reporting standards such as the TNFD, as they can influence investment decisions. Well, in some cases, companies have hesitated to make investments in new businesses and projects due to ignorance of the legal duties derived from these reports.\u00a0 [&hellip;]<\/p>\n","protected":false},"author":67,"featured_media":48080,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"default","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[58],"tags":[2947,2948],"class_list":["post-48078","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-novelties-en","tag-cop-16","tag-corporate-sustainability","areas-abogado-esg-en","areas-abogado-environmental-law"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>COP 16 - Corporate sustainability reports - PHR Legal | Posse Herrera Ruiz<\/title>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"COP 16 - Corporate sustainability reports - PHR Legal | Posse Herrera Ruiz\" \/>\n<meta property=\"og:description\" content=\"In this way, it is important to be clear about legal obligations and the proper implementation of reporting standards such as the TNFD, as they can influence investment decisions. 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