The California legislature continues to press forward with the implementation of two of the state's sweeping climate disclosure laws after a proposal to delay the implementation dates by the governor failed to be considered...more
Following the U.S. Securities and Exchange Commission ("SEC")'s adoption of the climate-related disclosure rules on March 6, 2024, dozens of parties filed petitions for review across different appellate courts. The Judicial...more
On September 10, 2024, the SEC settled charges against Keurig for "incomplete and inaccurate" ESG disclosures about the recyclability of Keurig's K-Cup pods, signaling a continued focus on environmental-related disclosures...more
In reversing a lower court ruling, the D.C. Court of Appeals makes actionable vague, aspirational statements of sustainability as deceptive and misleading representations under the D.C. Consumer Protection Procedures Act...more
The Development: On August 22, 2024, the Australian Senate passed the Treasury Laws Amendment (Financial Market Infrastructure and Other Measures) Bill 2024 ("Bill")....more
This White Paper focuses on ESG developments through the Asia-Pacific (“APAC”) region since the start of 2024.
For businesses present in the APAC region, as well as doing business there, it is imperative to be vigilant of...more
7/24/2024
/ Asia Pacific ,
Climate Action Plan ,
Climate Change ,
Environmental Protection Agency (EPA) ,
Environmental Social & Governance (ESG) ,
EU ,
Green Energy ,
Greenwashing ,
Net Zero ,
Regulatory Agenda ,
Reporting Requirements
The Background: The Inflation Reduction Act ("IRA") created or enhanced various tax credits for qualifying renewable energy projects. However, a taxpayer loses 80% of otherwise-available IRA credits unless prevailing wage...more
7/5/2024
/ Apprenticeships ,
Clean Energy ,
Department of Labor (DOL) ,
Employer Liability Issues ,
Energy Projects ,
Inflation Reduction Act (IRA) ,
IRS ,
Prevailing Wages ,
Renewable Energy ,
Tax Credits ,
Wage and Hour
A recent jury verdict finding Chiquita Brands International ("Chiquita") responsible for deaths by a Colombia paramilitary group marked the first "bellwether trial" in a massive multidistrict litigation and is reported to be...more
On March 6, 2024, the United States Securities and Exchange Commission ("SEC") adopted the much anticipated climate-related disclosure rules, two years after publishing the proposed rules. Immediately following the adoption...more
Vermont passed a first-of-its-kind law requiring energy companies to pay for part of the damages from extreme weather events, but the law likely will face legal challenges....more
6/10/2024
/ Climate Change ,
Corporate Counsel ,
Corporate Liability ,
Environmental Policies ,
Environmental Protection Agency (EPA) ,
Greenhouse Gas Emissions ,
Infrastructure ,
National Emissions Standards ,
New Legislation ,
New Regulations ,
Oil & Gas ,
Regulatory Requirements ,
Severe Weather ,
Superfund ,
Vermont
In what appears to be a new pathway for PFAS litigation, California plaintiffs recently filed a lawsuit against the manufacturer of BIC razors stemming from disclosures the company made under Maine's PFAS law, which were...more
5/30/2024
/ Class Action ,
Contamination ,
Corporate Counsel ,
Disclosure Requirements ,
Environmental Policies ,
Environmental Protection Agency (EPA) ,
Hazardous Substances ,
Manufacturers ,
PFAS ,
Public Health ,
Toxic Chemicals
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
On April 22, 2024, the U.S. government issued a final rule ("Rule") to restructure and update the Federal Acquisition Regulation ("FAR") to implement a requirement for agencies to procure sustainable products and services to...more
5/7/2024
/ Biden Administration ,
Climate Change ,
Corporate Counsel ,
ENERGY STAR Program ,
Environmental Protection Agency (EPA) ,
False Claims Act (FCA) ,
Federal Acquisition Regulations (FAR) ,
Federal Contractors ,
Final Rules ,
Goods or Services ,
Greenhouse Gas Emissions ,
Procurement Guidelines ,
Sustainability
On 27 March 2024, Australia's climate disclosure regime moved a significant step closer to implementation, with the federal government's introduction of proposed legislation into Parliament. Any organisations with a presence...more
4/17/2024
/ ASIC ,
Audits ,
Australia ,
Climate Change ,
Environmental Policies ,
Environmental Social & Governance (ESG) ,
Financial Reporting ,
Greenhouse Gas Emissions ,
Popular ,
Proposed Legislation ,
Regulatory Agenda ,
Sustainability
With Assembly Bill A3556C, New York joins a growing list of states considering or enacting broad bans on the sale and distribution of products containing per- and polyfluoroalkyl substances ("PFAS")....more
4/1/2024
/ Environmental Policies ,
Importers ,
Industrial Products ,
Legislative Agendas ,
Manufacturers ,
New York ,
PFAS ,
Regulatory Agenda ,
Regulatory Reform ,
Retail Market ,
State and Local Government
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 SEC has adopted the much-anticipated climate-related disclosure rules, which are more than 900 pages long, two years after they were first proposed. Although the rules will almost certainly face challenges in court that...more
The impact of ESG (environmental, social & governance) laws, regulations, and obligations has increased in recent times at an almost incomprehensible rate. This is particularly true in the Asia-Pacific (“APAC”) region. Within...more
2/13/2024
/ Civil Penalty Fund ,
Climate Change ,
Corporate Social Responsibility ,
Critical Infrastructure Sectors ,
Environmental Social & Governance (ESG) ,
EU ,
Financial Services Industry ,
Green Energy ,
Greenwashing ,
Natural Resources ,
Regulatory Requirements ,
Shareholders ,
Solar Energy
Business groups in California challenge the constitutionality of new climate reporting laws. ...more
This 2023 U.S. Real Estate Round-Up provides key insights to commercial and residential building owners facing a flock of new state environmental, social, and governance ("ESG") laws proposed or taken effect in 2023,...more
The Situation: The Australian government has released its widely anticipated exposure draft legislation for the introduction of Australia's national mandatory climate-related financial disclosures regime....more
The Situation: In October 2023, the Office of the Comptroller of the Currency ("OCC"), Federal Reserve System, and Federal Deposit Insurance Corporation ("FDIC," and the three agencies collectively, "Agencies") finalized...more
1/11/2024
/ Banks ,
Climate Change ,
FDIC ,
Federal Reserve ,
Final Guidance ,
Financial Institutions ,
Financial Services Industry ,
Joint Statements ,
OCC ,
Risk Management ,
Supervisory Guidance
In a watershed moment for green and sustainability-linked bonds, on November 30, 2023, the Regulation on European Green Bonds ("EuGB Regulation") was published in the Official Journal of the European Union ("EU")....more
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
In Short -
The Situation: The California legislature passed landmark climate bills that surpass emissions disclosure requirements of any other existing state law. The bills are branded as the nation's first comprehensive...more
9/28/2023
/ California ,
CARB ,
Climate Action Plan ,
Climate Change ,
Disclosure Requirements ,
Doing Business ,
Environmental Social & Governance (ESG) ,
Greenhouse Gas Emissions ,
Legislative Agendas ,
Proposed Rules ,
Regulatory Agenda ,
Regulatory Reform ,
Securities and Exchange Commission (SEC) ,
Sustainability