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Plastics Updates | February 2026

Welcome to the February edition of the Plastics newsletter. Published monthly, we provide key litigation, regulatory, and newsworthy updates across the US, EU, UK, and APAC regions with regard to plastics....more

EU Publishes Pared Back ESG Rules in the Omnibus

For over a year, the EU has been working to reduce the scope of and simplify two flagship ESG rules, the Corporate Sustainability Reporting Directive (CSRD) and the Corporate Sustainability Due Diligence Directive (CS3D)....more

U.S. Supreme Court to Hear Climate Change Preemption Case

On February 23, 2026, the U.S. Supreme Court granted the petition for writ of certiorari in Suncor Energy, Inc. v. County Commissioners of Boulder County (No. 25-170). In addition to addressing the question presented by...more

A Federal Court Paused Oregon's EPR Law: What Companies Should Know

On February 6, 2026, a federal court granted a preliminary injunction in National Association of Wholesaler-Distributors (NAW) v. Oregon Department of Environmental Quality (DEQ), temporarily halting enforcement of the...more

EPA Finalizes Repeal of Greenhouse Gas Endangerment Finding

On February 12, 2026, the U.S. Environmental Protection Agency ("EPA") finalized the repeal of the 2009 Greenhouse Gas Endangerment Finding, which had served as the legal foundation for federal greenhouse gas regulations....more

United Kingdom Launches Its First National Strategy to Tackle PFAS

On February 3, 2026, the UK Department for Environment, Food & Rural Affairs, or Defra, published the first comprehensive, UK‑wide policy paper ("PFAS Plan") on per‑ and polyfluoroalkyl substances ("PFAS"), which are...more

Federal Court Finds Texas Energy Anti-Boycott Statute Unconstitutional

The district court's ruling reopens opportunities for financial and other companies to do business with Texas state investment funds and other government entities, but the ruling may not be the final word on the issue. On...more

President Trump Issues Executive Order on Institutional Investment in Single-Family Homes

On January 20, 2026, President Trump issued an executive order ("EO"), "Stopping Wall Street from Competing with Main Street Homebuyers," which focuses on restricting large institutional investors from purchasing...more

What Does "Fair, Clear and Not-Misleading" Mean in the Context of Fund Strategies?

It has been the case for many years that promotional materials in the EU must be “fair, clear, and not mis-leading”. However, how should managers interpret this high-level requirement when describing their approach to ESG...more

The Climate Report: Fourth Quarter 2025

REGULATORY ISSUES & UPDATES - Latest Developments on the EU Taxonomy Regulation - As part of the broader "Omnibus" package for the simplification and revision of recent EU ESG rules, the European Commission has moved...more

Ninth Circuit Enjoins SB 261's Climate-Related Risk Reporting Requirements, Declines to Enjoin SB 253

On November 18, 2025, the Ninth Circuit temporarily enjoined the implementation of California Senate Bill 261 ("SB 261")—California's climate disclosure law—but rejected a similar challenge to Senate Bill 253 ("SB 253")'s...more

Omnibus - European Parliament Has Adopted Its Negotiating Position With Further Scaling Back Of CSRD And CSDDD

After previously failing to come to an agreement, the European Parliament yesterday adopted its negotiating position on the Omnibus package. This time, the position was adopted with a resounding majority — 382 votes in...more

Paris Judicial Court Dismisses Most of NGOs' Claims Against TotalEnergies in "Greenwashing" Case

On October 23, 2025, the Paris Judicial Court issued its long-awaited judgment in the so-called "greenwashing" case brought by Greenpeace and other NGOs against TotalEnergies SE and its subsidiary TotalEnergies Electricité et...more

Increasing Scrutiny of "ESG‑Influenced Investing" by ERISA Plans Has Implications for Stakeholders

In January 2025, the Northern District of Texas ruled that ESG factors influenced investment decisions by 401(k) plan fiduciaries in violation of the Employee Retirement Income Security Act ("ERISA"), despite those decisions...more

Eighth Circuit Declines to Advance SEC Climate Disclosure Litigation

On September 12, 2025, the U.S. Court of Appeals for the Eighth Circuit paused challenges to the SEC’s climate-related disclosure rules. Earlier this year, the SEC stopped defending the rules in court—while at the same time...more

Court Again Declines to Block California Climate Disclosure Laws, Pauses Case Pending Appeal

Back in August, we wrote about a federal court’s refusal to issue a preliminary injunction that would have blocked California’s new climate disclosure statutes—SB 253, requiring large companies to disclose greenhouse gas...more

Will the U.S/EU Trade Deal lead to additional changes in European ESG legislation?

As a follow-up to the political agreement reached between U.S. President Donald Trump and EU Commission President Ursula von der Leyen regarding cross-Atlantic trade on July 27th, 2025, the United States and the EU issued a...more

Court Upholds California Climate Disclosure Laws—for Now

On August 13, 2025, the U.S. District Court for the Central District of California denied the U.S. Chamber of Commerce’s motion for a preliminary injunction seeking to halt enforcement of SB 253 (emissions disclosure) and SB...more

FCA Publishes Its Findings On TCFD Climate Reporting Following A Multi-firm Review

On August 6, the UK Financial Conduct Authority ("FCA") released its findings following a multi-firm review of climate reporting by asset managers, life insurers and FCA-regulated pension providers....more

ICJ Issues Advisory Opinion on States' Legal Obligations Regarding Climate Change

The International Court of Justice ("ICJ") stated that States have legal obligations to regulate emissions and may be held internationally responsible for climate inaction—including the failure to effectively regulate...more

California Air Resources Board Offers Direction as to Application of California Climate Disclosure Laws

On May 29, 2025, a virtual public workshop held by the California Air Resources Board ("CARB") offered direction on how it interprets certain elements of California's climate disclosure laws. While CARB has a July 1, 2025,...more

Hong Kong's Highest Court Issues Ruling on Keepwell Deeds

On March 19, 2025, the Hong Kong Court of Final Appeal ("CFA") issued a landmark ruling on the enforceability of "keepwell deeds" in Peking University Founder Group Company Limited v. Nuoxi Capital Limited....more

Tensions Rise Between EU and U.S. Law

As currently drafted, the PROTECT USA Act, introduced on March 12, 2025, may have the unintended impact of creating a significant tension between compliance with U.S. and EU laws by U.S. and non-U.S. companies....more

EU Omnibus Package Published: CSRD and CS3D to Be Delayed and Scaled Back

The European Union published its long-awaited "Omnibus" package, proposing to delay key European ESG rules, while simultaneously reducing the applicability and burden of corporate sustainability reporting and due diligence...more

SEC Signals It Will Abandon Defense of Climate Disclosure Rule

Acting Securities and Exchange Commission ("SEC" or the "Commission") Chairman Mark Uyeda directed SEC staff to request that the Eighth Circuit Court of Appeals not schedule an oral argument in the pending litigation...more

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