The first half of 2024 was eventful in the world of environmental, social and governance (“ESG”). Although ESG continued to lose the market tailwinds that have pushed it forward in recent years, regulatory pressures both...more
10/18/2024
/ Corporate Governance ,
Corporate Social Responsibility ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
Federal Trade Commission (FTC) ,
Greenwashing ,
Non-Compete Agreements ,
Proxy Season ,
Securities and Exchange Commission (SEC) ,
Shareholders ,
Sustainability
On August 14, 2024, the United States Court of Appeals for the District of Columbia Circuit (“D.C. Circuit”) released a redacted copy of its opinion in Sinclair Wyoming Refining Co. LLC v. EPA, in which the D.C. Circuit...more
On May 20, 2024, the U.S. Fish and Wildlife Service (FWS) issued a final rule listing the dunes sagebrush lizard (“DSL”) as endangered under the Endangered Species Act (“ESA”).1 The change in the DSL listing status, which...more
On May 1, 2024, the Council on Environmental Quality (“CEQ”) published the final version of Phase 2 of its National Environmental Policy Act (“NEPA”) rulemaking (“Phase 2 Rule”). The Phase 2 Rule is the culmination of the...more
On May 14, 2024, the U.S. Environmental Protection Agency (“EPA”) published the final version of its revisions to the Greenhouse Gas Reporting Program (“GHGRP”) regulations for the oil and gas sector, often referred to as...more
The United States electric grid is becoming increasingly stressed as the nation navigates the energy transition and demand for electricity rises. On May 1, 2024, recognizing the stress on the grid and the need for additional...more
New and additional bonding requirements for certain companies operating on the Outer Continental Shelf (“OCS”) will take effect in June as a result of a recent rulemaking. These new requirements will be phased in over a...more
After much anticipation, on March 6, 2024, the Securities and Exchange Commission (“SEC” or the “Commission”) released its Final Rule—The Enhancement and Standardization of Climate-Related Disclosures for Investors—mandating...more
3/29/2024
/ Business Development Companies ,
Carbon Emissions ,
Climate Change ,
Corporate Governance ,
Disclosure Requirements ,
Final Rules ,
Foreign Issuers ,
Form S-8 ,
MD&A Statements ,
PSLRA ,
Regulation S-K ,
Safe Harbors ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act
On February 8, 2024, the Environmental Protection Agency (EPA) published two proposed rules that would expand its regulatory authority over PFAS: one to list nine PFAS as hazardous constituents subject to the Resource...more
The Environmental Protection Agency (EPA) has finalized a host of new obligations for upstream and midstream oil and gas owners and operators. These new source performance standards (“NSPS”) and emission guidelines (“EG”) for...more
The Environmental Protection Agency (EPA) has released proposed and final rules that will regulate methane emissions from oil and gas operations, implement a methane emissions tax, and change greenhouse gas reporting...more
2/23/2024
/ Continuing Legal Education ,
Energy Sector ,
Environmental Protection Agency (EPA) ,
Events ,
Final Rules ,
Greenhouse Gas Emissions ,
Methane ,
Oil & Gas ,
Proposed Rules ,
Reporting Requirements ,
Tax Liability ,
Tax Planning
The Environmental Protection Agency (EPA) has published a proposed rule to assess and collect billions of dollars in methane “waste emission charges” from the oil and gas sector....more
On November 16, 2023, the Department of Energy (“DOE”) issued a notice of proposed rulemaking (“NOPR”) that would amend DOE’s regulations implementing the National Environmental Policy Act (“NEPA”) to add a categorical...more
On August 29, 2023, the Environmental Protection Agency (“EPA”) and U.S. Army Corps of Engineers (“Corps”) released the text of a rule further revising the definition of “waters of the United States” (“WOTUS”) that the...more
9/7/2023
/ Administrative Procedure Act ,
Construction Project ,
Environmental Protection Agency (EPA) ,
Inland Waterways ,
Land Developers ,
Rapanos v US ,
Sackett v EPA ,
SCOTUS ,
US Army Corps of Engineers ,
Waters of the United States ,
Wetlands
In a concerted effort to meet the Biden administration’s aggressive carbon-reduction goals, the Department of Energy (“DOE”) unveiled a pre-publication copy of a forthcoming proposed rule on August 10, 2023, aimed at...more
8/17/2023
/ Biden Administration ,
Carbon Capture and Sequestration ,
Carbon Emissions ,
CEQ ,
Department of Energy (DOE) ,
Energy Sector ,
Environmental Impact Statements ,
Federal Power Act ,
FERC ,
NEPA ,
Renewable Energy
In this presentation, we will discuss substantive updates and guidance released on IRA credits and monetization and provide a market update....more
Federal agencies are required to conduct assessments under the National Environmental Policy Act (“NEPA”) before taking “major federal actions,” such as granting permits needed for infrastructure projects and for certain...more
The Biden administration has proposed changes regarding when oil, gas, and sulfur lessees and certain other parties operating in the offshore Outer Continental Shelf must post additional bonds or other “supplemental financial...more
Welcome to Vinson & Elkins’ Securities and ESG Updates. Our aim is to provide insights into notable developments in securities reporting and the environmental, social and governance space over the quarter and, where...more
7/13/2023
/ C&DIs ,
Climate Change ,
COSO ,
Cybersecurity ,
Disclosure Requirements ,
Diversity ,
Divestment ,
Environmental Justice ,
Environmental Social & Governance (ESG) ,
Greenwashing ,
Nasdaq ,
No-Action Letters ,
NYSE ,
Proxy Season ,
Repurchases ,
Risk Management ,
Securities and Exchange Commission (SEC) ,
Shareholders ,
Universal Proxy Cards
The EPA (or “Agency”) is seeking public input and data regarding the potential future designation of seven per- and polyfluoroalkyl substances (“PFAS”) under the Comprehensive Environmental Response, Compensation, and...more
The Environmental Protection Agency (“EPA”) has proposed regulating six per- and polyfluoroalkyl (“PFAS”) in drinking water under the Safe Drinking Water Act (“SDWA”). In a proposed rule published on March 29, 2023, EPA...more
The Environmental Protection Agency (“EPA”) announced it will continue to prioritize enforcement of, and compliance with, the Safe Drinking Water Act (“SDWA”) and federal drinking water regulations through Fiscal Year (“FY”)...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
The Environmental Protection Agency (“EPA”) and U.S. Army Corps of Engineers (“Army Corps”) delivered on their commitment to issue a new rule defining “waters of the United States” (“WOTUS”) by the end of 2022, releasing a...more
1/11/2023
/ Clean Water Act ,
Construction Project ,
Environmental Protection Agency (EPA) ,
Federal Jurisdiction ,
Federal Register ,
Joe Biden ,
New Rules ,
Preemptive Challenges ,
Rapanos v US ,
Sackett ,
US Army Corps of Engineers ,
Waters of the United States ,
Wetlands
Last November, the U.S. Environmental Protection Agency (EPA) published a regulatory preamble describing its plans for proposed standards to reduce methane emissions and other air pollutants from affected sources within the...more
11/25/2022
/ Carbon Emissions ,
Environmental Policies ,
Environmental Protection Agency (EPA) ,
Greenhouse Gas Emissions ,
Inflation Reduction Act (IRA) ,
Methane ,
New Source Performance Standards (NSPS) ,
Oil & Gas ,
Oil Wells ,
Popular ,
Volatile Organic Compounds (VOC)