Water Quality: U.S. Supreme Court Asked to Hear Appeal Interpreting Citizen Suit Authority Under Clean Water Act
On January 30, 2023, Dakota Finance LLC (dba Arabella Farms) filed a Petition for Writ of Certiorari with the U.S. Supreme Court in a case which may provide clarity to the applicability of the Clean Water Act (CWA)’s
Executional Greenwashing is a Thing
Executional greenwashing is a neologism characterizing the way in which a business promotes or executes an environmental initiative, rather than the actual environmental impact of the initiative.
Much-Anticipated Proposed Regulations on the 30D EV Tax Credit Have Finally Arrived—but Leave a Key Question Unresolved
Today, the Department of the Treasury and IRS made available for public inspection proposed regulations on the new clean vehicle credit under the Inflation Reduction Act of 2022, as codified in section 30D of the Internal Revenue Code. These proposed regulations will be published in the Federal Register on April 17, 2023, and the due date for comments will be 60 days after the publication (or Friday, June 16, 2023).
The future of green finance in the UK: UK Government publishes updated Green Finance Strategy
On 30 March 2023, the UK Government published an updated Green Finance Strategy (the “Strategy“). The Strategy, which updates the UK’s 2019 Green Finance Strategy, outlines how “continued UK leadership on green finance will cement the UK’s place at the forefront of this growing global market, and how we will mobilise the investment needed to meet our climate and nature objectives“.
Dangers of Dissolving Your LLC Business via Short Form Affidavit
A business owner in Louisiana who wishes to dissolve his or her non-operating LLC may run across information demonstrating how to dissolve the LLC with the Louisiana Secretary of State using an affidavit provided by the Secretary of State. Although this can be a valid method of dissolving an LLC, business owners should beware that
UK “Green Day” — Key Policy Measures Announced to Fuel Investment in Green Energy and Achieve Net Zero
The UK government has unveiled a number of measures with the overall purpose of reaching net zero by 2050 and meeting the UK’s climate targets.
By Paul A. Davies, Beatrice Lo, JP Sweny, Simon Tysoe, Michael D. Green, and James Bee
On 30 March 2023, on what has been called the UK’s “green day”, the UK government announced a series of policies and proposals that it hopes will form the backbone of its strategy to drive investment into green energy with a view to achieving energy security and meeting the target of net zero greenhouse gas emissions by 2050.
UK Government Consults on Regulation of ESG Ratings Providers
The consultation considers what a potential regulatory regime would look like, and its proposed scope.
By Nicola Higgs, Paul A. Davies, Becky Critchley, Anne Mainwaring, Ella McGinn, and Charlotte Collins
On 30 March 2023, HM Treasury published a consultation on regulating ESG ratings providers, which ties in with and was published alongside the UK government’s latest Green Finance Strategy paper.
The government announced as part of the Edinburgh Reforms last year that HM Treasury would consult on a potential regulatory regime for ESG ratings providers. Now HM Treasury is seeking views on whether such a regime should be introduced, and what its potential scope should be. The government is not proposing to regulate ESG data providers for the time being. The consultation is open until 30 June 2023; no further timetable has been set at this stage but it could take a couple of years for any new regime to be finalised and take effect.
DOJ’s Decision Not to Appeal the Fifth Circuit’s Decision in Trafigura Trading Creates Oil Export Tax Refund Opportunities and Uncertainty
UPDATE – In its Action on Decision (AOD 2023-01, 2023-10 IRB 502), the Internal Revenue Service (“IRS”) announced its acquiescence to the holding of the Fifth Circuit in Trafigura Trading LLC v. United States, No. 21-20127, 29 F.4th 286 (5th Cir. 2022), i.e., that Internal Revenue Code (“IRC”) Section 4611(b)(1)(A) imposes a tax on
DOE Identifies Pathways for the Large-Scale Commercialization of Clean Energy Technologies
On March 21, 2023, the US Department of Energy (DOE) released three reports as part of its ““Pathways to Commercial Liftoff,” articulating its vision on how the private sector and policymakers can reach full-scale commercialization for advanced nuclear, clean hydrogen, and long-duration energy storage.
European Commission Adopts Proposal to Promote Repair of Goods
As part of the European Green Deal ambitions, the proposal encourages sustainable consumption through additional incentives to repair products to reduce waste and emissions.
By Paul A. Davies, Michael D. Green, and James Bee
On 22 March 2023, the European Commission (Commission) adopted a new proposal on common rules promoting the repair of goods (the Proposal). The Proposal seeks to deliver on the environmental targets outlined in the European Green Deal, specifically regarding sustainable consumption, by increasing consumer incentives to repair products rather than replace them, especially after a product’s legal guarantee under the EU’s Sale of Goods Directive has expired. The Proposal will therefore aim to create growth in the market for refurbished products, furthering the Green Deal ambition of promoting a circular economy.