In a potentially significant development that may impact the economics of aviation, the California Air Resources Board (“CARB”) is proposing a policy, as we previewed in January 2024, to update the state’s Low Carbon Fuel...more
Following a nearly two-year wait, the Securities and Exchange Commission (“SEC” or “Commission”) released its Final Rule—The Enhancement and Standardization of Climate-Related Disclosures for Investors—on March 6, 2024. The...more
3/18/2024
/ Administrative Stay ,
Corporate Governance ,
Corporate Social Responsibility ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
Final Rules ,
Greenhouse Gas Emissions ,
Publicly-Traded Companies ,
Regulation S-K ,
Regulation S-X ,
Securities and Exchange Commission (SEC)
Following a nearly two-year wait, the Securities and Exchange Commission (“SEC” or “Commission”) released its Final Rule—The Enhancement and Standardization of Climate-Related Disclosures for Investors—on March 6, 2024. The...more
3/8/2024
/ Corporate Governance ,
Corporate Social Responsibility ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
Final Rules ,
Greenhouse Gas Emissions ,
Publicly-Traded Companies ,
Regulation S-K ,
Regulation S-X ,
Renewable Energy ,
Securities and Exchange Commission (SEC) ,
Task Force on Climate-related Financial Disclosures (TCFD)
Last week, the Governor of New Mexico signed House Bill 41 (“HB 41”) into law, establishing the Clean Fuel Standard (“CFS”), which, similar to programs in California, Oregon, and Washington, focuses on reducing the carbon...more
ExxonMobil (“Exxon”) filed a complaint in the U.S. District Court for the Northern District of Texas on Sunday, January 21, 2024, seeking a declaratory judgment to exclude a shareholder proposal from its proxy statement...more
On January 30, 2024, the U.S. Chamber of Commerce and five co-plaintiffs representing a coalition of business groups filed a lawsuit against the state of California seeking to block the state’s new landmark climate disclosure...more
ExxonMobil (“Exxon”) filed a complaint in the U.S. District Court for the Northern District of Texas on Sunday, January 21, 2024, seeking a declaratory judgment to exclude a shareholder proposal from its proxy statement...more
The California Air Resources Board (“CARB”) reviews the state’s Low Carbon Fuel Standard (“LCFS”) program every five years as part of the broader scoping plan required under the California Global Warming Solutions Act. On...more
Much of the attention on California of late has focused on the passing of two climate-related disclosure laws; namely, the Climate Corporate Data Accountability Act (“CCDAA”) (SB 253) and the Climate-Related Financial Risk...more
Much of the attention on California of late has focused on the passing of two climate-related disclosure laws; namely, the Climate Corporate Data Accountability Act (“CCDAA”) (SB 253) and the Climate-Related Financial Risk...more
As public companies anticipate the Securities and Exchange Commission’s (“SEC”) final climate disclosure rules, which are expected to be released sometime fourth quarter of 2023, California has beaten the federal government...more
As public companies anticipate the Securities and Exchange Commission’s (“SEC”) final climate disclosure rules, which are expected to be released sometime fourth quarter of 2023, California has beaten the federal government...more
9/28/2023
/ California ,
CARB ,
Carbon Emissions ,
Climate Change ,
Corporate Social Responsibility ,
Department of Insurance ,
Disclosure Requirements ,
Greenhouse Gas Emissions ,
Reporting Requirements ,
Securities and Exchange Commission (SEC) ,
Task Force on Climate-related Financial Disclosures (TCFD)
Recent announcements by the EPA provide some insight into its administration of the Inflation Reduction Act’s Greenhouse Gas Reduction Fund.
On February 14, 2023, the Environmental Protection Agency (“EPA”) announced an...more
In a move that could have far-ranging implications for projects that require federal permits and rulemaking across the entire federal government, the White House’s Council on Environmental Quality (“CEQ”) published interim...more
In an ambitious step toward New York state’s climate goals, the New York State Climate Action Council approved a Scoping Plan on December 19, 2022, which sets forth a series of recommended policies and actions. The 445-page...more
1/11/2023
/ Carbon Capture and Sequestration ,
Clean Tech ,
Climate Action Plan ,
Greenhouse Gas Emissions ,
Investment Opportunities ,
Low Carbon Fuel Standard ,
New York ,
Popular ,
Power Grid ,
Recycling ,
Renewable Energy ,
Waste Management ,
Zero-Emission Vehicles
As a result of ongoing discussions, the European Parliament and the Council of the European Union announced on December 13, 2022, that a provisional agreement had been reached to implement a European Union (“EU”) Carbon...more
The Federal Acquisition Regulatory Council (“FAR Council”) published a proposed rule in the Federal Register on November 14, 2022, that would create several significant compliance obligations for federal contractors....more
12/7/2022
/ Compliance ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
Federal Acquisition Regulations (FAR) ,
Federal Contractors ,
Federal Register ,
Greenhouse Gas Emissions ,
Investors ,
Popular ,
Proposed Rules ,
Securities and Exchange Commission (SEC)
On March 21, 2022, the SEC issued a Proposing Release setting out sweeping new requirements for climate change disclosures. If finalized as proposed, these climate disclosure rules would require dramatic changes to corporate...more
4/11/2022
/ Climate Change ,
Corporate Governance ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
Greenhouse Gas Emissions ,
ICFR ,
Proposed Rules ,
Regulation S-K ,
Risk Management ,
Securities and Exchange Commission (SEC) ,
Task Force on Climate-related Financial Disclosures (TCFD)
The Securities and Exchange Commission (“SEC”) released a proposed rule on March 21, 2022, that would require U.S. and foreign private issuers to provide certain climate-related information in their registration statements...more
Washington recently joined California, Oregon, and British Columbia in adopting a clean fuels standard that mandates reductions in greenhouse gas (“GHG”) emissions attributable to transportation fuels. In the final days...more
Ordinarily, the law governing how agencies create regulations — the Administrative Procedure Act — requires a thirty-day window between when a rule is published in the Federal Register and becomes “final” and when the rule is...more