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Climate Change Penalties

Akin Gump Strauss Hauer & Feld LLP

This Week's Climate Policy Update - September 30 - October 4, 2024

Good morning! This is Akin’s newsletter on climate change policy and regulatory developments, providing information on major climate policy headlines from the past week and forthcoming climate-related events and hearings...more

Skadden, Arps, Slate, Meagher & Flom LLP

Corporate Sustainability Due Diligence Directive: What Companies in Germany Need To Know

The European Union’s Corporate Sustainability Due Diligence Directive (CSDDD or Directive) entered into force on July 25, 2024, establishing a framework for companies to address risks and adverse impacts on human rights and...more

Mintz

Legal Challenge to New York City's Local Law 97 Reinstated By Appellate Court

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About five years ago, the New York City Council enacted Local Law 97, which imposes strict restrictions on greenhouse gas emissions for large buildings (25,000 square feet or larger), and assesses fines and penalties for...more

Mintz

European Central Bank to Impose Fines on Banks for Failure to Address Climate Change

Mintz on

It has been reported that the European Central Bank will be imposing fines on as many as four lenders due to “not meeting deadlines set by the ECB for assessing their exposure to climate risks.” Specifically, ECB regulations...more

NAVEX

The EU Corporate Sustainability Due Diligence Directive – March 2024 Update

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Just when the corporate world was getting a handle on the Corporate Sustainability Due Diligence Directive (CSDDD), the goalposts have moved again. The CSDDD has faced a rollercoaster of revisions over the past two years, but...more

King & Spalding

California's New Climate Disclosure Requirements: A Work in Progress

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In groundbreaking legislation, California continues to lead the nation in climate change regulation by enacting the bulk of the California Climate Accountability Package – an unprecedented climate disclosure mandate for...more

Akin Gump Strauss Hauer & Feld LLP

California Corporate Data Accountability and Climate-Related Financial Risk Act

California is poised to become the first state to require large companies to disclose greenhouse gas (GHG) emissions from direct operations, supply chains and employees and report on climate-related financial risk and any...more

Kohn, Kohn & Colapinto LLP

SEC Issues Record Penalty for ESG Greenwashing Violations

In recent years, the U.S. Securities and Exchange Commission (SEC) has increasingly made Environmental, Social, and Governance (ESG) issues a central element of the agency’s enforcement priorities and on September 25, the...more

J.S. Held

Crosscurrents: California’s Senate Bill 253 Mandates Carbon Reporting for Large Companies

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Meta Description: California’s Senate Bill 253 introduces mandatory climate disclosure requirements for large companies. Learn about emissions reporting and how Bill 253 leads the way into environmental accountability....more

Davis Wright Tremaine LLP

Broker Dealer Regulatory Digest - September 2023

Editor's Note - The following newsletter provides a roundup summarizing enforcement actions, guidance, rulemakings, and other public statements taken by a federal and/or state financial services regulatory agency,...more

Fenwick & West LLP

California’s Proposed Bills Require Companies to Report on Climate Emissions and Risks

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While all eyes are on proposed federal and European climate disclosure rules, the California legislature passed two climate-related bills that overlap somewhat with the Securities and Exchange Commission (SEC)’s proposed...more

Dechert LLP

SEC Releases 2022 Enforcement Division Results

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The Securities and Exchange Commission (“SEC”) released an annual summary, on November 15, 2022, of actions brought by the Division of Enforcement (“Division”) over fiscal year 2022 (“Enforcement Summary”), providing an...more

Dechert LLP

The ESG Climate Change Evolution of Commercial Real Estate Finance: Turning Over New (Green) Leaves

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The Intergovernmental Panel on Climate Change’s Sixth Assessment report, released most recently in spring 2022, sounded the alarm on the current state of the Earth’s climate. Today, with just 1.1 degrees Celsius in warming,...more

White and Williams LLP

A Changing Climate: the Rising Tide of ESG Liability and Implications for D&O Coverage

The latest legal buzzword, ESG, represents the environmental, social and governance factors that many corporations are now required to consider and disclose alongside traditional financial information such as operating...more

Mintz

Red States Move to Penalize Companies That Consider Climate Change When Making Investments

Mintz on

A number of conservative-leaning states, particularly those with a significant fossil fuel industry (e.g., Texas, West Virginia), have begun implementing polices and enacting laws that penalize companies which "pull away from...more

Hogan Lovells

Will new UK emissions targets change the car you drive post Brexit?

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New mandatory UK CO2 emissions targets are set to come into effect from 1 January 2021. Whilst these rules replicate the previous EU emissions targets and penalties, their effect when assessed on a UK only basis may result in...more

Spilman Thomas & Battle, PLLC

Currents - Energy Industry Insights - September 2019

Atlantic Coast Pipeline Remains Halted as Developers Wait on Court Decisions - "There are currently two federal permits under review--one issued by the U.S. Fish and Wildlife Service and one issued by the U.S. Forest...more

Williams Mullen

Environmental Notes - April 2016

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EPA’s Office of Enforcement and Compliance Assurance recently proposed changes to its National Program Manager (NMP) Guidance that, in part, would revise EPA’s National Enforcement Initiatives (“NEIs”) for federal fiscal...more

King & Spalding

Energy Newsletter - January 2016

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On 12 December 2015, nearly 200 countries reached an agreement that many have described as a historic turning point for global cooperation in addressing climate change. This article looks at the key elements of the Paris...more

Seyfarth Shaw LLP

SEP Right for You? EPA Updates its Supplemental Environmental Projects Policy

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The U.S. Environmental Protection Agency recently updated its Supplemental Environmental Project (SEP) Policy. Most federal actions for failure to comply with the environmental laws are resolved through settlement...more

Bracewell LLP

Texas Environmental Update - December 20, 2013

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Mexican Federal Congress Approves Important Constitutional Energy Reform Bill - Energy Legal Blog, December 13, 2013 - As we previously reported, on August 12, 2013, Mexican President Enrique Peña Nieto...more

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