On October 26, 2023, the UN Environment Programme (UNEP) published a report with recommendations for linking climate-related actions taken by non-state actors (NSAs) to the Enhanced Transparency Framework (ETF) established by...more
On September 7, 2023, Allianz SE unveiled its first net-zero transition plan for its core business segments, featuring 2030 intermediate targets to achieve net-zero emissions by 2050. The Munich-based insurance firm’s...more
The International Tribunal for the Law of the Sea held a series of public hearings that started September 11, 2023 following a request submitted by the Commission of Small Island States on Climate Change (COSIS) to clarify...more
On September 19, 2023, the U.S. Treasury Department introduced nine guiding principles for private sector financial institutions that have made net-zero commitments. The principles are intended to highlight and encourage the...more
On September 16, 2023, California Attorney General Rob Bonta filed a lawsuit against five of the world’s largest oil and gas companies for allegedly denying or downplaying the harm caused by fossil fuels on climate change....more
10/27/2023
/ Air Quality Standards ,
California ,
Carbon Emissions ,
Climate Action Plan ,
Climate Change ,
Critical Habitat ,
Energy Policy ,
Environmental Justice ,
Environmental Policies ,
Fossil Fuel ,
Greenhouse Gas Emissions ,
Infrastructure ,
Oil & Gas
On October 7, 2023, Governor Newsom passed Senate Bills 253 and 261 into law, which significantly expand California companies’ disclosure requirements concerning greenhouse gas emissions and climate-related financial risks....more
Ahead of September 2023’s G20 summit in Delhi, the Farm Animal Investment Risk & Return (FAIRR) Initiative called on G20 Finance Ministers to reform agricultural subsidies to enable countries to meet their net zero greenhouse...more
10/11/2023
/ Agribusiness ,
Biodiversity ,
Climate Action Plan ,
Climate Change ,
COP ,
Environmental Social & Governance (ESG) ,
G20 ,
Greenhouse Gas Emissions ,
Investment ,
Net Zero ,
Subsidies
California lawmakers seek to raise the bar on climate regulation through the California Climate Corporate Data Accountability Act (Senate Bill 253), which would require large public and private companies to disclose their...more
9/21/2023
/ California ,
Carbon Emissions ,
Climate Action Plan ,
Climate Change ,
Disclosure Requirements ,
Environmental Policies ,
Greenhouse Gas Emissions ,
Infrastructure ,
Pollution Control ,
Regulatory Agenda ,
Regulatory Reform
As we touched on last week, on August 14, the Montana First Judicial District Court, Lewis and Clark County, entered its Findings of Facts and Conclusions of Law in Held v. State of Montana, et al. striking down certain...more
9/13/2023
/ Climate Change ,
Constitutional Challenges ,
Energy Policy ,
Environmental Policies ,
Environmental Review ,
Environmental Social & Governance (ESG) ,
Greenhouse Gas Emissions ,
Infrastructure ,
Montana ,
Pollution Control ,
Public Health ,
State Constitutions
In a civil suit filed in Oregon state court in June 2023, an Oregon county is suing more than a dozen large oil, gas and coal companies, seeking more than $50 million in damages, in connection with a 2021 “heat dome” and...more
9/5/2023
/ Chevron ,
Climate Action Plan ,
Climate Change ,
ConocoPhillips ,
Energy Policy ,
Environmental Policies ,
Fossil Fuel ,
Fraud ,
Greenhouse Gas Emissions ,
Infrastructure ,
Investment ,
Negligence ,
Oil & Gas ,
Oregon ,
Public Nuisance ,
Severe Weather ,
Shell Oil
The United States and the United Kingdom announced a partnership to address a range of global challenges, including the transition to clean energy. As part of the partnership, announced on June 9, 2023, the two countries...more
8/15/2023
/ Clean Energy ,
Climate Change ,
Electric Vehicles ,
Emerging Technology Companies ,
Energy Policy ,
Environmental Policies ,
Infrastructure ,
Minerals ,
Nuclear Power ,
Paris Agreement ,
Taxonomy ,
UK
The United Nations Framework Convention on Climate Change (UNFCCC) has introduced the Recognition and Accountability Framework to recognize voluntary climate change pledges by non-state actors and ensure greater transparency...more
To investigate and prosecute the illegal trade of timber around the world and the deforestation that results, the U.S. Department of Justice has formed the Timber Interdiction Membership Board and Enforcement Resource...more
Following completion by the International Sustainability Standards Board (ISSB) of IFRS S1 (General Requirements for Disclosure of Sustainability-related Financial Information) and IFRS S2 (Climate-related Disclosures), on...more
In May 2023, the shareholder advocacy group Australasian Centre for Corporate Responsibility (ACCR), HSBC Global Asset Management (UK) Limited and Amundi Asset Management filed shareholder resolutions pressing Japanese power...more
In May 2023, the World Benchmarking Alliance (WBA) released a report on the first edition of its Financial System Benchmark, which assesses financial institutions’ progress toward climate change goals. The WBA is a non-profit...more
On April 21, 2023, President Biden announced new initiatives to further his administration’s commitment to addressing the impact of climate change on communities “with environmental justice concerns,” including low-income...more
In April 2023, the Centre for Climate Finance & Investment and the International Energy Agency issued a report identifying and addressing the investment gap in renewable and clean energy in the Association of Southeast Asian...more
A review by The Pensions Regulator (TPR) of the published annual climate reports of more than 71 UK pension schemes found several areas where improvement is needed as well as emerging “good practices.”...more
On April 28, 2023, French multi-national energy company TotalEnergies filed a civil action in France against environmental activist group Greenpeace France and climate consulting group Factor-X alleging that a report issued...more
On April 18, 2023, the Institutional Investors Group on Climate Change (IIGCC) published a “Net Zero Standard for Oil & Gas.” Development of the Standard follows a two-year collaborative process led by IIGCC with support from...more
The United Nations General Assembly, the UN’s primary policy-making body, has adopted a resolution requesting an advisory opinion from the International Court of Justice (ICJ) on the obligations of its 193 member states...more
5/10/2023
/ Advisory Opinions ,
Climate Action Plan ,
Climate Change ,
Environmental Justice ,
Environmental Policies ,
Environmental Social & Governance (ESG) ,
General Assembly ,
Greenhouse Gas Emissions ,
Infrastructure ,
International Court of Justice (ICJ) ,
Renewable Energy ,
United Nations
The International Sustainability Standards Board (ISSB) has approved a plan that would implement a transition period for companies applying IFRS S1 (General Requirements for Disclosure of Sustainability-Related Financial...more
A recent academic study covering the period 2010-2021 has found that many companies in the S&P500 currently are providing disclosure on ESG issues, and in the absence of mandated disclosure rules, do so on a voluntary basis....more
Senior finance officials from 18 states, as well as hundreds of investors, public and private companies and climate-focused nonprofits, joined together to urge policymakers to reject efforts by certain, primarily Republican...more