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The U.S. Environmental Protection Agency (EPA) has formally withdrawn cybersecurity rules it promulgated in March requiring that states report cybersecurity threats to their public water systems (PWS). The reversal comes in the wake of lawsuits filed in the Eighth Circuit in July by Missouri, Arkansas, and Iowa (the states), along with intervenors American Water Works Association and National Rural Water Association (the water associations). As a result of the withdrawal, the states and water associations filed to dismiss their suits.

A Louisiana car dealership’s Cyber Liability policy does not cover contractual reimbursements owed to a lender by that dealership following a “touchless” online vehicle purchase utilizing identity theft. During the pandemic, the dealership created a “touchless” process whereby an online buyer would submit a credit application to a lender. If approved, the buyer and the…

Monterey Peninsula

In Marina Coast Water Dist. v. County of Monterey (2023) 96 Cal.App.5th 46, the Sixth District Court of Appeal reversed the trial court’s ruling, rejecting Marina Coast Water District’s (“MCWD”) challenge to the sufficiency of the environmental review process for the Monterey Peninsula Water Supply Project (“Project”). The court held that Monterey County’s (“County”)…

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In line with the global trend of increasing importance of sustainability-linked loans, the Loan Market Association (LMA) and the European Leveraged Finance Association jointly published on 5 October 2023 the updated Best Practice Guide to Sustainability-Linked Leveraged Loans (the “Updated Guide”), which contains updates to the original Best Practice Guide to Sustainability-Linked Leveraged Loans published…

Fresh Green Leaves

The Act demonstrates the UK’s renewed commitment to reaching net zero and paves the way for players in key industries to achieve their targets.

By Tom Bartlett, Paul A. Davies, JP Sweny, Michael D. Green, James Bee, and Samuel Burleton

On 26 October 2023, the UK Energy Act 2023 (the Act) received Royal Assent. The Act is a landmark piece of energy legislation detailing the UK’s approach to achieving energy independence and its net zero obligations.

The provisions of the Act lay the foundation for potentially £100 billion worth of private investment in clean energy infrastructure. The government has indicated that the Act is intended to support up to 72,000 jobs in carbon capture and storage (CCS) and hydrogen by 2030.

This blog post summarises how the Act is likely to impact key industries.

United States - Chicago

On October 24, 2023, the US federal banking regulators finalized interagency principles for the effective management and supervision of climate-related financial risks (the “Climate Principles”).1 The Climate Principles are targeted at larger banking organizations and are intended to convey consistent supervisory expectations regarding how climate-related financial risks should be managed.

The US federal banking…

Earlier today, the Connecticut Department of Energy & Environmental Protection (“DEEP”) issued an RFP for up to 2 GW of offshore wind. The RFP solicits bids to enter into long-term power purchase agreements for energy, renewable energy certificates (RECs), and related environmental attributes. Responses to the RFP will be evaluated by various state agencies and the…

National Agricultural Policy: USDA Allocates $2.3 Billion in CCC Funds for Trade Promotion, Surplus Commodity Purchases
On October 24, 2023, U.S. Department of Agriculture (USDA) Secretary Tom Vilsack announced that USDA will allocate $2.3 billion in Commodity Credit Corporation (CCC) funds for agricultural trade promotion and international food aid. According to the announcement, $1.3 billion…