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Welcome to Vinson & Elkins’ Securities and ESG Updates. Our aim is to provide insights into notable developments in securities reporting and the environmental, social and governance space over the quarter.

Welcome to Vinson & Elkins’ Securities and ESG Updates.

Even as supply chains face increased pressure due to COVID-19, the invasion of Ukraine by Russia, sanctions imposed upon Russia, and extreme weather, businesses continue to implement and develop Supplier Codes of Conduct in order to make their supply chains more ESG-compliant.

After my previous blog post regarding recent labor enforcement actions taken under the U.S.-Mexico-Canada Agreement (“USMCA”) impacting U.S. companies with facilities or subsidiaries in Mexico, I received questions regarding employer rights under Mexican labor law.

Within the last few months, U.S. employers doing business in Mexico have felt the effects of the enforcement mechanisms of the “U.S.-Mexico-Canada Agreement” (“USMCA”).

On June 17, 2021, in Nestle USA Inc. v. Doe, the United States Supreme Court reversed a Ninth Circuit decision that would have allowed foreign cocoa workers to pursue claims against Nestlé USA, Inc. (Nestle), Cargill, Inc. (Cargill) and others for alleged human rights abuses committed by foreign suppliers under the Alien Tort Statute (ATS).

In August 2020, while most of us were thinking of ways to modernize our new work-from-home office/kitchen combo to avoid going stir-crazy, the SEC adopted various amendments to Regulation S-K in an effort to modernize disclosures.