Source: Linklaters
A new survey commissioned by Linklaters has found that despite most businesses wanting to work together, 60% of survey respondents are still put off collaborating on ESG issues due to fear of breaking competition rules and the risk of litigation.
Exposure to antitrust liability, whether at the hands of an agency or a litigant, is a concern for companies when considering partnering with competitors on environmental, social and governance (ESG) issues despite the 360 pressure they are facing to improve their sustainability performance. The survey of over 500 sustainability professionals in the UK, USA, France, Germany and the Netherlands indicated that guidance from EU and UK antitrust regulators is starting to have an impact, with companies increasingly having the confidence to work together on sustainability projects. Linklaters commissioned the same survey in 2020 and have put together a new report which compares the findings to see how far the needle has moved.
Nicole Kar, Global Head of Linklaters’ Antitrust & Foreign Investment practice: “Commitment to sustainability objectives continues to be high with 82% of those surveyed recognising the importance of working with peers to pursue sustainability goals. Indications that following the EU and UK Guidance, over half of those surveyed are prepared to take forward projects previously considered too risky are encouraging. Authorities have opened the door – businesses need to be prepared to step through.”
Jonathan Ford, Partner in Linklaters’ Antitrust & Foreign Investment practice: “We need to get to a point where sustainability leaders are no longer put off collaborating legitimately on ESG issues where needed, due to fear of breaking competition rules. Only then will we see larger strides in projects and initiatives around the green and wider sustainability agenda.”
Read the full article: https://www.linklaters.com/en/about-us/news-and-deals/news/2023/october/competition-law-remains-a-barrier-to-sustainability-collaborations
