Presentations / Webinars:
The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) announced $5 billion in New Markets Tax Credit (NMTC) awards on Sept. 22, with the goal of economically revitalizing low-income communities across the country. A total of 102 organizations nationwide received tax credit allocation authority under this round of the NMTC Program.
On September 13, 2023, the California Legislature passed Assembly Bill 1305 (AB 1305), which imposes wide-ranging disclosure requirements on (1) entities that market or sell voluntary carbon offsets and (2) entities that purchase and rely on these offsets to advertise their climate goals. The bill has been enrolled and is currently on Governor Newsom’s desk.
AB 1305 comes on the heels of escalating criticism of voluntary carbon offsets, including arguments that corporations use low-quality offsets to engage in greenwashing. AB 1305 is likely to prompt companies to engage in careful due diligence before making climate-related claims and to ensure that they rely on high-quality offsets that correspond to real emission reductions or removals.
On September 28, 2023, EPA released a final rule under the Toxic Substances Control Act (“TCSA”) mandating reporting relating to past manufacturing of per- and polyfluoroalkyl substances (“PFAS”). Below are key takeaways companies that may be subject to these reporting requirements should keep in mind.
The Consumer Product Safety Commission (CPSC) recently released a Request for Information (RFI) to gather information from all stakeholders to better understand the potential presence and uses of per- and polyfluoroalkyl substances (PFAS) in consumer products. The RFI is designed to gather information and comment on a voluntary basis to inform the CPSC and the
We have been closely monitoring the progress of the United States Environmental Protection Agency (“EPA”) proposed rule to designate perfluorooctanic acid (“PFOA”) and perfluorooctane sulfonic acid (“PFOS”), two per- and poly-fluoroalkyl substances (“PFAS”), as hazardous substances under the federal Comprehensive Environmental Response, Compensation, and Liability Act (“CERCLA”). If finalized, the rule would have far-reaching consequences
In City of San Clemente v. Department of Transportation (2023) 92 Cal.App.5th 1131, the Fourth District Court of Appeal held that a homeowner’s association (Association), who challenged a proposed state highway extension alignment and a CEQA settlement that required the highway to avoid sensitive areas, was not entitled to attorney’s fees under the “private attorney
By Adam R. Young, A. Scott Hecker, and Craig B. Simonsen
Seyfarth Synopsis: The U.S. Department of Labor recently announced that OSHA has launched a new initiative focused on enhancing enforcement and providing compliance assistance to protect workers from the hazards of silica.
Exposure to crystalline silica dust above recognized permissible exposure limits can result
The EU regulators are reviewing the Sustainable Finance Disclosure Regulation introduced in 2021, exploring the need for potential additional adjustments.
By Paul A. Davies, Nicola Higgs, Michael D. Green, James Bee, and Anne Mainwaring
On 14 September 2023, the European Commission initiated a consultation on its sustainable financial disclosure practices, seeking feedback on Regulation (EU) 2019/2088 — the Sustainable Finance Disclosure Regulation (SFDR). The consultation surveys stakeholders’ experiences during the implementation of the SFDR and, in particular, solicits feedback on its interactions with the broader EU sustainable finance framework.
The draft New Measure aims to enhance the environmental integrity of China’s carbon market by introducing new requirements for project registration and credit issuance.
By Paul A. Davies, Jean-Philippe Brisson, Michael Dreibelbis, and Qingyi Pan
China is preparing to relaunch its carbon credits program, the Chinese Certified Emission Reduction (CCER) Scheme, after suspending the program for over six years. On July 7, 2023, the Ministry of Ecology and Environment (MEE) and the State Administration for Market Regulation (SAMR) of the People’s Republic of China jointly released the draft Measure for the Administration of Voluntary Emission Reduction Trading (the New Measure).
The public consultation for the draft New Measure ended on August 6, 2023, and on September 15, 2023, the MEE ministry conference reviewed and passed the New Measure in principle. The formal release is expected to happen in October 2023, upon which the New Measure would replace the previous set of rules and become the governing law of the CCER Scheme.
Together with the national emission trading scheme (the China ETS) launched two years ago, the CCER Scheme represents China’s continuous efforts towards adopting market-based mechanisms for achieving its climate pledges (peaking emissions before 2030 and reaching carbon neutrality before 2060).[i]