Dispute Resolution Partner and Global Chair of the Firm’s Consumer Goods and Retail Sector, Katia Boneva-Desmicht took part in a Q&A with The Global Legal Post, in which she discusses why global ESG regulations catalyze transformation within the luxury sector. The article also highlights the Firm's annual ESG guide in collaboration with Positive Luxury, which explores sustainability-focused legislative changes in the EU, UK and US as well as key issues for business leaders in the luxury space.
When asked why ESG is of such urgency to luxury brands, Katia commented: "We ask our clients about the topics that matter to them and the one that comes automatically from them is ESG – packaging, reporting requirements, transparency of supply chains and so forth, and then seeing all this legislation to be implemented, the possibility of sanctions, the scrutiny from nonprofit organizations and activism from more organizations to be compliant. There is so much going on with ESG."
Responding to a question on what the ESG future holds for luxury brands, Katia said: "We will see more activity on several fronts including great activism, the circular economy, greenwashing, recycling and waste management and of course, we’ll see lots of activity with sanctions and the rise of counter-sanctions in the United States and other countries."
The full article can be read here: Global Legal Post