In October 2023, California Governor Gavin Newsom signed into law the Climate Corporate Accountability Act (SB 253) and the Climate‐Related Financial Risk Act (SB 261), jointly referred to as the Climate Accountability...more
On April 4, 2024, the SEC issued a stay of its final climate-related disclosure rules. The SEC adopted the long-awaited final rules in March after receiving more than 24,000 comment letters....more
On March 6, 2024, in a 3-2 vote along party lines, the SEC adopted the long-awaited final rules on climate-related disclosures. The proposed rules faced intense public scrutiny over the last two years, with the SEC receiving...more
3/12/2024
/ Climate Change ,
Compliance ,
Corporate Governance ,
Disclosure Requirements ,
Emerging Growth Companies ,
Environmental Social & Governance (ESG) ,
Final Rules ,
Financial Reporting ,
Greenhouse Gas Emissions ,
Publicly-Traded Companies ,
Regulation S-K ,
Risk Assessment ,
Securities and Exchange Commission (SEC) ,
Securities Regulation ,
Smaller Reporting Companies ,
Task Force on Climate-related Financial Disclosures (TCFD)
Giant sequoias grow indigenously on the western slopes of California's Sierra Nevada. These trees are historically known to be resilient to wildfire, but as weather events have become more extreme, the local populations of...more
What a difference a year makes.
A highlight of the 2022 proxy season was the increased shareholder focus on a number of ESG topics, including more than 100 “E”-related shareholder proposals related to climate change,...more
In preparation for the 2023 proxy season, proxy advisory firms Glass Lewis and Institutional Shareholder Services (ISS) announced updates to their voting guidelines for investors, effective on January 1, 2023, and February 1,...more
2/7/2023
/ Audits ,
Climate Change ,
Corporate Governance ,
Corporate Social Responsibility ,
Environmental Social & Governance (ESG) ,
Glass Lewis ,
Institutional Shareholder Services (ISS) ,
Proxy Season ,
Proxy Statements ,
Proxy Voting ,
Proxy Voting Guidelines ,
Publicly-Traded Companies
Companies considered to be “major” or “significant” US federal government contractors soon may be required to provide climate disclosures as part of the Biden Administration’s suite of policies designed to achieve net-zero...more
12/13/2022
/ Biden Administration ,
Climate Change ,
Comment Period ,
Disclosure Requirements ,
Federal Acquisition Regulations (FAR) ,
Federal Contractors ,
Greenhouse Gas Emissions ,
Net Zero ,
Proposed Rules ,
Public Disclosure ,
System For Award Management (SAM) ,
Task Force on Climate-related Financial Disclosures (TCFD)
California lawmakers ushered in a robust suite of climate legislation at the end of the term in August, dedicating $54 billion to climate programs over the next five years. The state’s demonstrated dedication to climate...more
The Inflation Reduction Act (IRA), the Biden Administration’s signature legislative achievement, includes several provisions aimed at fighting climate change by reducing greenhouse gas (GHG) emissions. The law represents the...more
9/2/2022
/ Biden Administration ,
Carbon Capture and Sequestration ,
Clean Energy ,
Climate Change ,
Environmental Justice ,
Federal Funding ,
Greenhouse Gas Emissions ,
Inflation Reduction Act (IRA) ,
Investment Tax Credits ,
Mineral Leases ,
Oil & Gas ,
Popular ,
Production Tax Credit
Governor Newsom recently signed Senate Bill 54 (“SB 54”), heralding an unprecedented commitment to reducing plastic production and consumption in California. The Plastic Pollution Prevention and Packaging Producer...more
In one of the most significant environmental opinions of our time, the Supreme Court held in West Virginia v. EPA that Section 111(d) of the Clean Air Act does not give the Environmental Protection Agency (EPA) authority to...more
7/11/2022
/ Clean Air Act ,
Clean Power Plan ,
Climate Change ,
Environmental Policies ,
Environmental Protection Agency (EPA) ,
Greenhouse Gas Emissions ,
Power Plants ,
Regulatory Authority ,
Regulatory History ,
SCOTUS ,
West Virginia v EPA
Yesterday, the US Securities and Exchange Commission (SEC or Commission) proposed groundbreaking rules intended to enhance and standardize climate-related disclosure requirements for public companies. The SEC’s climate...more
3/23/2022
/ Annual Reports ,
Climate Change ,
Corporate Governance ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
Foreign Private Issuers ,
Greenhouse Gas Emissions ,
Proposed Rules ,
Public Comment ,
Publicly-Traded Companies ,
Regulation S-K ,
Regulation S-X ,
Securities and Exchange Commission (SEC)
Yesterday the Supreme Court stayed the Occupational Health and Safety Administration’s (OSHA) vaccination and testing emergency temporary standard (ETS), resolving months of legal uncertainty over its fate. In blocking the...more