Canadian Lawyer

September 2021

The most widely read magazine for Canadian lawyers

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www.canadianlawyermag.com 37 "Companies should be able to follow up if they're setting a particular diversity target or taking steps … to ensure [there are no] human rights violations in that supply chain." John Terry, Torys LLP an intensive activity such as mining or oil resource sectors abroad." According to Reichelt, companies must build up their knowledge and resources on ESG to ensure correct oversight of the issue. "Companies must keep an eye on what their obligations are, in terms of mandatory disclosure as it relates to ESG. There's no clear guidance on that." They must be mindful of changing disclosure requirements and set achievable targets and commitments. She adds that a trend coming out of the U.S. in ESG litigation is claims relating to misrepresentations in public disclosures. These may be security fraud claims, false or misleading statements of material facts or admission, unfair and deceptive busi- ness practices, misrepresentation in breach of warranty claims, as well as challenges to misleading ESG statements. "So, going forward, make sure you're aware of your various obligations for disclo- sure and being cognizant of the voluntary and the mandatory ones, but also setting achievable targets and commitments, and conducting risk assessments on those actual targets and commitments." HILLCOUNSEL.COM A reputation built on trust. A litigation boutique for over 30 years, the firm continues to be sought after in the fields of litigation, arbitration and mediation.

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