The Climate Report | First Quarter 2020

Jones Day

Climate Change Regulatory Issues & Updates

Trump Administration Plans Overhaul of NEPA Review Process
The proposed rule changes would considerably limit the scope of environmental reviews of planned energy and infrastructure projects in the United States—including consideration of climate change impacts.

Initial Rules Issued for Mexico's Carbon Market Program
The National Carbon Market Pilot Program's rules include greenhous gas emissions caps and procedures for assigning emission rights to program participants.

Climate Change Litigation Issues & Updates

Court Rejects New York Attorney General's "Hyperbolic" Complaint Alleging That ExxonMobil Defrauded Investors Regarding Climate Change Risk
In a landmark victory for Exxon, the New York Supreme Court held that the company did not make false, misleading, or material statements to investors regarding climate change risks. This is an important bellwether decision as plaintiffs continue to bring lawsuits based on novel legal theories to hold companies financially liable for climate change.

Supreme Court of the Netherlands Upholds Ruling Requiring Dutch State to Reduce Greenhouse Gas Emissions
The ruling held that the threat of climate change constitutes a real and immediate risk for the Dutch population.

French Administrative Supreme Court Rules in Favor of Limiting Hydrocarbon Permits for Climate Change Reasons
This decision confirms that combating climate change is a public interest, justifying, under French public law principles, certain limitations on private interests.

Ninth Circuit Dismisses Major Climate Change Lawsuit Against the Federal Government
Jones Day recently reported on the Ninth Circuit's decision in Juliana v. United States.

Climate Change Transactional Issues & Updates

Virtual PPA Market Continues to Grow
A number of factors indicate that virtual power purchase agreements for renewable energy will continue to thrive.

Catching the First U.S. Wave of ESG Investment: Lessons Learned and Challenges Ahead
Several significant trends and lessons have developed as ESG-focused investing continues to grow in the United States.

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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