On 20 December 2023, the Council of the EU reached an agreement on its negotiating mandate on a proposal for a regulation on ESG ratings (the “Proposed EU Regulation“). This builds on the European Commission’s proposal, which was published on 13 June 2023.
The EU’s desire to regulate ESG rating agencies is a response to increasing concerns from a variety of stakeholders about the reliability, comparability and transparency of ESG ratings and the data behind these ratings.
A bigger and better future that is both prosperous and sustainable
On December 14, the National Congress of Brazil overrode most of the presidential vetoes to Federal Law No. 14.701/2023 (the “Time Limit Act”), which regulates Article 231 of the Constitution to set guidelines for the recognition, demarcation, use and management of Indigenous lands. The Time Limit Act was initially published on October 20, 2023, but
Agribusiness: Beneficial Ownership Information Reporting Requirements Effective January 1, 2024
On January 1, 2024, the beneficial ownership information (BOI) reporting requirements (31 CFR § 1010.380) become effective for many companies and small entities as part of the Corporate Transparency Act, enacted within the Anti-Money Laundering Act of 2020 in the National Defense Authorization Act
A district court has ruled that federal law does not preempt an indirect source rule that targets emissions associated with warehouses in Southern California.
By Joshua Bledsoe, Nick Cox, and Jennifer Garlock
On December 14, 2023, a US federal judge rejected claims that federal law preempts the South Coast Air Quality Management District’s (SCAQMD or the District) adoption of Rule 2305 (Rule), upholding the first-in-the-nation Rule[1] that regulates trucking emissions from warehouses.
Rule 2305 is the Warehouse Indirect Source Rule (ISR) — Warehouse Actions and Investments to Reduce Emissions (WAIRE) Program. As described in this Latham blog post, the WAIRE Program applies to certain warehouses in the South Coast Air Basin and imposes a compliance obligation based on the number of truck visits to that warehouse per year. Warehouse operators can meet that obligation by taking any number of emissions-reducing actions, either from the “WAIRE Menu” or through a custom plan approved by the District.
By James L. Curtis, Adam R. Young, Melissa A. Ortega, and Craig B. Simonsen
Seyfarth Synopsis: The Bureau of Labor statistics addresses the rise in worker deaths in 2022, and expected data for 2023.
This week’s announcement by the Bureau of Labor Statistics shows a 5.7 percent increase in fatal occupational injuries
On 7 December 2023, the Commission tabled three legislative proposals (the “Proposal(s)”) to implement the “One-substance-one-assessment” (“OSOA”) announced in the European Green Deal and the Chemicals Strategy for Sustainability (“CSS”).
At present, different harmonised agencies may carry out the safety assessments of the same chemicals under different pieces of harmonized legislation, at different times and often using different data. This, according to the Commission, creates inefficiencies and may result in inconsistent and less predictable regulatory outcomes.
On December 19, 2023, the U.S. Department of Energy (DOE) released long-awaited final guidance on its process to designate National Interest Electric Transmission Corridors (commonly referred to as “NIETCs,” pronounced NIT-sees). Once designated, these corridors will bolster federal permitting authority over transmission projects in areas most in need of additional capacity.
As we’ve previously noted
On December 15, 2023, IRS published Notice 2024-06, a brief but important guidance on Section 40B, the Inflation Reduction Act (“IRA”) tax credit for sustainable aviation fuel (“SAF”). The guidance establishes a safe harbor for SAF that generates RINs under the federal Renewable Fuel Standard program (“RFS”). It also announces that the Department of
The sports world is buzzing about Shohei Ohtani’s record-setting $700 million dollar contract with the Los Angeles Dodgers. As bankruptcy lawyers, we are abuzz thinking about the bankruptcy implications of Ohtani’s contract. Today’s blog post will discuss what type of claim Ohtani might have if the Dodgers file for bankruptcy (again). In the near future,