Earlier this year, the SEC issued its long-awaited regulation concerning mandatory climate disclosures. As expected, this climate disclosure rule was immediately challenged in the courts by, among others, conservative states...more
Regulatory Updates -
Governor Newsom (D-CA) recently proposed a two-year delay to California’s sweeping new mandatory climate disclosures, which apply to all large companies—public or private—doing business in California....more
8/2/2024
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Climate Change ,
Department of Labor (DOL) ,
Disclosure Requirements ,
Employee Retirement Income Security Act (ERISA) ,
Energy Sector ,
Environmental Litigation ,
Environmental Social & Governance (ESG) ,
Fossil Fuel ,
Loper Bright Enterprises v Raimondo ,
Popular ,
Regulatory Agenda ,
Sustainability
Governor Newsom has proposed that the implementation of California's mandatory climate disclosure laws--which apply to all companies doing business in California and earning more than $500 million in revenue--be delayed for...more
On June 4, 2024, a number of Congressional Democrats (10 Senators; 28 Congressmen) sent a letter to SEC Chairman Gensler, urging that the SEC “enforce existing SEC climate disclosure-related guidance” while the legal...more
On June 25, 2024, thirty-five Republican legislators, including seventeen senators and eighteen representatives, filed an amicus brief in the Eighth Circuit Court of Appeals in support of the pending challenge to the SEC’s...more
On June 4, 2024, a number of Congressional Democrats (10 Senators; 28 Congressmen) sent a letter to Chairman Gensler of the Securities & Exchange Commission, urging that the SEC “enforce[] [] existing SEC climate...more
When the SEC announced its mandatory climate disclosure rule on March 6, 2024, this regulation was immediately challenged by parties on both ends of the political spectrum. A number of states, fossil fuel companies, and...more
On April 22, 2024, the federal government issued a rule “amending the Federal Acquisition Regulation (FAR)” to “implement a requirement for agencies to procure sustainable products and services to the maximum extent...more
The UK government, having originally announced that it would decide whether to impose mandatory climate disclosures on companies by July 2024, has now postponed that decision until the first quarter of 2025....more
Earlier this week, the Eighth Circuit issued an order enabling 19 Democratic Attorneys-General--representing the District of Columbia and eighteen states (AZ, CO, CT, DE, HA, IL, MD, MA, MI, MN, NV, NM, NY, OR, RI, VT, WA,...more
On March 6, 2024, the SEC issued its long-awaited climate disclosure rule, which mandates the disclosure of climate-related risks and Scope 1 and Scope 2 greenhouse gas emissions, among other things. The rule was immediately...more
Last week, the United Kingdom's Financial Conduct Authority issued guidance on its proposed anti-greenwashing rule, which will come into effect at the end of May 2024. (Greenwashing is when a product, service, or firm is...more
Yesterday, Congressman McHenry (R-NC), the Chairman of the House Financial Services Committee, hosted a hearing entitled: “Beyond Scope: How the SEC's Climate Rule Threatens American Markets.” As could be expected, the...more
Today, the SEC issued an order to stay the recently promulgated climate disclosure rule until the courts have the opportunity to judicially review the climate disclosure rule. Specifically, the SEC stated that it “has...more
During the opening remarks of the two-day SEC Speaks Conference, Chairman Gensler failed to express any statement of support in connection with the SEC's recently promulgated rule on mandatory climate disclosures. (Instead,...more
On March 6, 2024, the SEC issued its long-awaited climate disclosure rule, nearly two years after the draft rule was proposed in March 2022. Significantly, this rule required that: (1) companies disclose climate-related...more
Today, the Fifth Circuit Court of Appeals issued an administrative stay of the SEC's recent climate disclosure rule, which was issued last Wednesday, March 6, 2024. The unpublished order by a three judge panel (Jones,...more
The Securities & Exchange Commission ("SEC") issued its long-awaited final rule concerning climate disclosures, entitled “The Enhancement and Standardization of Climate-Related Disclosures for Investors” (“Climate Disclosure...more
3/15/2024
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Climate Change ,
Disclosure Requirements ,
Final Rules ,
Governance Standards ,
Greenhouse Gas Emissions ,
Investment ,
Renewable Energy ,
Risk Assessment ,
Safe Harbors ,
Securities and Exchange Commission (SEC) ,
Severe Weather ,
Sustainability
On the same day that the SEC issued its long-awaited rule on climate disclosures, ten states (West Virginia, Georgia, Alabama, Alaska, Indiana, New Hampshire, Oklahoma, South Carolina, Virginia, and Wyoming, which are all...more
Today, after nearly two years of anticipation, the SEC finally enacted a climate disclosure rule on a 3-2 party-line vote by the SEC Commissioners. As described by SEC Commissioner Lizarrage, “[b]y requiring registrants to...more
The Securities & Exchange Commission has announced that it will be voting on “whether to adopt rules to require registrants to provide certain climate-related information in their registration statements and annual...more
Since the SEC proposed its climate disclosure rule in March 2022, the rule has been subject to significant public criticism and comment--particularly from business groups and conservative legislators who have questioned the...more
The U.S. Chamber of Commerce, in combination with a number of other organized business interests, recently filed a lawsuit in federal court seeking to invalidate two of the climate disclosure laws enacted by California last...more
On January 24, 2024, Senators Tester (D-Montana) and Sinema (I-Arizona) submitted a letter to the SEC concerning the SEC's proposed “Climate Disclosure Rule,” which would mandate, among other things, disclosures of greenhouse...more
The Securities & Exchange Commission recently disclosed, in a filing with the Office of Management and Budget, that the vote by the SEC Commissioners as to whether to issue the SEC's proposed climate disclosures is expected...more