The Situation: On June 20, 2024, the UK Supreme Court handed down a landmark decision in R (on the application of Finch on behalf of the Weald Action Group) (Appellant) v Surrey County Council and others (Respondents) [2024]...more
7/19/2024
/ Climate Change ,
Energy Projects ,
Environmental Impact Report (EIR) ,
Environmental Policies ,
EU ,
Greenhouse Gas Emissions ,
Oil & Gas ,
Popular ,
UK ,
UK Supreme Court ,
Urban Planning & Development
REGULATORY ISSUES & UPDATES -
Recent Evolution of the European Regulatory Framework on Greenwashing -
Two new Directives adopted by the EU in 2024—the "Empowering Consumers Directive" and the "Green Claims...more
6/20/2024
/ Air Pollution ,
Carbon Capture and Sequestration ,
Carbon Emissions ,
Clean Air Act ,
Clean Energy ,
Climate Change ,
Disclosure Requirements ,
Environmental Policies ,
Environmental Protection Agency (EPA) ,
Greenhouse Gas Emissions ,
Human Rights ,
Net Zero ,
Power Plants ,
Securities and Exchange Commission (SEC) ,
Sustainability ,
Tax Credits
The Context: Litigation over State obligations to mitigate climate change intensifies globally, with NGOs and individuals pressuring corporations to cut emissions. The European Court of Human Rights ("ECtHR") issued three...more
The Council of the European Union ("EU") approved the Corporate Sustainability Due Diligence Directive ("CS3D") on March 15, 2024. The CS3D contains due diligence and governance obligations that will have an extensive impact...more
3/20/2024
/ Due Diligence ,
Environmental Social & Governance (ESG) ,
EU ,
EU Directive ,
European Commission ,
Financial Institutions ,
Green Deal ,
Regulatory Agenda ,
Reporting Requirements ,
Risk Assessment ,
Sustainability
The U.S. Securities and Exchange Commission has adopted much anticipated climate-related disclosure rules....more
3/18/2024
/ Climate Change ,
Disclosure Requirements ,
Emissions Trading System ,
Environmental Protection Agency (EPA) ,
Environmental Social & Governance (ESG) ,
Federal Highway Administration ,
Financial Institutions ,
Green Buildings ,
Green Energy ,
Green Infrastructure ,
Greenhouse Gas Emissions ,
Greenwashing ,
Proposed Rules ,
Risk Management ,
Securities and Exchange Commission (SEC) ,
UK
The Council of Europe and the European Parliament announced on December 14, 2023, that they reached a political agreement on the text of the upcoming European Union ("EU") Corporate Sustainability Due Diligence Directive...more
REGULATORY ISSUES & UPDATES -
Mandatory Climate Change Reporting Requirements Under the New European ESRS E1 -
The implementation of the European Sustainability Reporting Standards poses risks for reporting companies,...more
12/5/2023
/ Clean Water Act ,
Climate Action Plan ,
Climate Change ,
Data Protection ,
Disclosure Requirements ,
Environmental Protection Agency (EPA) ,
EU ,
European Commission ,
Federal Agency Taskforce ,
Green Initiatives ,
Greenhouse Gas Emissions ,
NEPA ,
Net Zero ,
Reporting Requirements ,
Risk Management ,
SFDR ,
State and Local Government ,
Sustainability ,
Taxonomy ,
U.S. Treasury ,
UK
As part of the Fit for 55 Package of the EU Green Deal, the EU Carbon Border Adjustment Mechanism("CBAM"), adopted through Regulation (EU) 2023/956 of May 10, 2023, is considered by the EU institutions as a key tool to become...more
In Short -
The Situation: A new set of measures has been adopted in France which will promote "Green Industry" by streamlining environmental and industrial authorization and supporting low-carbon industrialization...more
11/3/2023
/ Climate Action Plan ,
Construction Project ,
Environmental Policies ,
France ,
Green Buildings ,
Green Infrastructure ,
Industrial Sector ,
Industrial Space ,
New Regulations ,
Permits ,
Real Estate Development ,
Real Estate Investments ,
Regulatory Reform ,
Regulatory Requirements ,
Urban Planning & Development
The EU’s Corporate Sustainability Reporting Directive (“CSRD”) requires the most detailed and onerous ESG reporting and disclosures anywhere in the world. All told, it is estimated that more than 50,000 companies, including...more
9/21/2023
/ Air Pollution ,
Biodiversity ,
Climate Change ,
Disclosure Requirements ,
Due Diligence ,
Environmental Social & Governance (ESG) ,
EU ,
European Commission ,
Parent Corporation ,
Proposed Regulation ,
Proposed Rules ,
Sustainability ,
Water
REGULATORY ISSUES & UPDATES -
New CFTC Enforcement on Carbon Markets Misconduct -
The U.S. CFTC publishes a rare alert soliciting tips about potential manipulation in the carbon markets and announces the formation of...more
8/18/2023
/ Airlines ,
CARB ,
CFTC ,
Climate Change ,
Environmental Protection Agency (EPA) ,
EU ,
Greenhouse Gas Emissions ,
Greenwashing ,
HFC Emissions ,
Shareholder Litigation ,
UK
"Green Day" in the UK -
As part of its "Powering Up Britain" strategy, the UK government has published a series of documents setting out its vision for the UK's transition to net zero and the strengthening of UK energy...more
On March 29, 2023, the United Nations ("UN") General Assembly adopted a resolution requesting the International Court of Justice ("ICJ") to issue an advisory opinion on States' obligations regarding climate change under...more
In Short -
The Situation: The European Union ("EU") has adopted a new regulation designed to tackle deforestation and forest degradation in the EU and globally by preventing European citizens from buying, using, and...more
In Short -
The Situation: Both the United Kingdom and European Union have recently announced proposals to introduce new legal instruments which address alleged greenwashing. When implemented, such legislation would...more
Incoming: Mandatory Climate Risk Disclosures in Australia -
The Climate-Related Financial Disclosure Consultation Paper proposes that, commencing with the 2024/2025 financial year, large, listed entities and large...more
On December 13, 2022, the European Parliament and the Council of the EU reached a provisional agreement on the implementation of the EU Carbon Adjustment Mechanism ("CBAM"), the mechanism designed to complement the European...more
In Short -
The Situation: The transition to the new so-called Medical Device Regulation ("MDR") and In Vitro Diagnostic Regulation ("IVDR"), which establish new rules for the placing on the market of medical devices...more
In a judgement dated April 19, 2022, the Tribunal of Paris (the "Tribunal") dismissed a misleading commercial practice claim brought by a consumer protection non-government organization ("NGO") against an energy supplier (the...more
California Enacts Sweeping Climate Measures -
On September 16, 2022, California Governor Gavin Newsom signed a broad legislative package into law that aims to aggressively address climate change. The material aspects of...more
As indicated in the previous edition of the Climate Report, on July 15, 2022, the European Union Official Journal published Commission Delegated Regulation (EU) of March 9, 2022. This new delegated regulation includes nuclear...more
REGULATORY ISSUES & UPDATES -
European Taxonomy Regulation Extended to Natural Gas and Nuclear Energy -
The regulation is likely to create new opportunities for natural gas and nuclear energy in the European Union,...more
On July 15, 2022, the European Union Official Journal published Commission Delegated Regulation (EU) of March 9, 2022. The new regulation implements European Regulation (EU) 2020/852 of June 18, 2020 (the "Taxonomy...more
REGULATORY ISSUES & UPDATES -
UK Introduces New Climate-Related Disclosure Regulations for UK Companies and LLPs -
The Companies (Strategic Report) (Climate-related Financial Disclosure) Regulations 2022 ("the...more
6/1/2022
/ Biden Administration ,
Climate Action Plan ,
Climate Change ,
Corporate Governance ,
Corporate Social Responsibility ,
Disclosure Requirements ,
Energy Reform ,
Environmental Policies ,
Environmental Social & Governance (ESG) ,
Greenhouse Gas Emissions ,
Greenwashing ,
Publicly-Traded Companies ,
Regulatory Agenda ,
Securities and Exchange Commission (SEC)
On April 5, 2022, the EU Commission proposed two new regulations to restrict the emission and use of highly potent greenhouse gases, which heavily contribute to global warming, in order to limit global temperature rise and...more