The increasing integration of global value chains raises concerns about how to balance open markets and environmental protection. ESG standards have gained greater attention each year and have become urgent and necessary for business success, whether for small or large corporations. The session will address, among other things, legislative developments in key markets related to trade and environment and the extra-territorial impact of these developments. It will address in particular the EC deforestation regulation (and other similar regulation discussed by other countries) and the reaction from potentially affected countries.