Environmental, social, and corporate governance (“ESG”) has become a buzz word in the corporate world. Although typically associated with sustainability, the term encapsulates a much broader set of goals. The United Nations Human Rights Council and the Organisation for Economic Cooperation and Development have established frameworks to guide corporate behavior with respect to human rights and the environment. The European Union has also adopted rules in this field, and plans to continue developing regulations. In the U.S., the International Sustainability Standards Board has been established to set ESG reporting standards. The Securities and Exchange Commission is also developing its own ESG guidelines. These efforts encourage companies to take measures to protect the environment, advance human rights, and follow State regulations in their day-to-day operations.

Effective implementation of ESG guidelines requires accurate reporting and appropriate due diligence. Initially voluntary and coordinated by initiatives like the Global Reporting Initiative, forms of ESG reporting now amount to a legal obligation in the European Union, United Kingdom, and Australia.

Against this backdrop, ESG is growing increasingly relevant in the field of investment arbitration. Investors working in multiple jurisdictions must navigate overlapping standards and regulations in order to uphold their obligations to respect the environment and protect human rights in accordance with the governing laws of the host State. Increasingly, investment agreements include ESG provisions, which can become relevant in disputes. And even in the absence of these explicit provisions, obligations have been inferred from customary international law that impose constraints on the behavior of corporations.

This panel will bring together stakeholders from business, government, academia, and law to discuss the growth of ESG provisions in investment agreements and the consequences of these provisions during investment arbitrations, considering the following questions:

• What ESG obligations must States, asset managers and corporations consider, and what strategies can they use to navigate overlapping and changing ESG regulatory frameworks? 
• How is increasing ESG regulation affecting the behavior of  asset managers, investors, corporations and consumers – are they having the intended effect?
•  How can States translate overarching environmental and human rights goals into specific, and effective, ESG regulations and reporting guidelines?
• What opportunities are available for States to secure responsible and sustainable investing through ESG frameworks?

Speakers:

• Opening Remarks
  • Christina Hioureas, Chair, United Nations Practice Group and Co-Chair International Litigation & Arbitration Department, Foley Hoag
  • Sandra van Heukelom-Verhage, Chair of the Board, Pels Rijcken
  • Isa Mirza, Senior Advisor, Global Business and Human Rights Practice, Foley Hoag
• Moderator: Meredith Haviland, Partner and Co-Chair, Impact Investing Group, Foley Hoag
• Speakers: 
  • Katerina Yiannibas, Lecturer in Law, Columbia Law School
  • Matthew Rusk, Head of North America Engagement and Public Affairs, Global Reporting Initiative
  • Brooke Skartvedt Guven, Head of ESG & Sustainability and Managing Director, Cerberus Capital Management 
  • Martijn Scheltema, Partner, Pels Rijcken

6:00 – 6:30 PM: Welcome Reception
6:30 – 7:30 PM: Discussion
7:30 – 8:00 PM: Q & A
8:00 – 9:00 PM: Reception