On November 18, 2022, from 12 noon – 1:00 ET, the Penn State Center for Agricultural and Shale Law, alongside the Pennsylvania Department of Agriculture’s Agricultural Business Development Center presented webinar on conservation programs as part of our ongoing educational series, “Understanding Agricultural Law.” This session in our series is entitled, “Understanding the Basics of
EU Corporate Sustainability Reporting Directive – new sustainability disclosure obligations for EU and non-EU companies
On 10 November 2022, the EU Parliament adopted the Corporate Sustainability Reporting Directive (“CSRD“). The EU Council is expected to adopt the CSRD on 28 November 2022, after which it will be published in the Official Journal. The CSRD will then enter into force 20 days after publication and EU member states will have 18
Low Embodied Carbon Concrete is Here
There are 40 tons of concrete for every person on the planet and an additional one ton per person is added every year making low embodied concrete a golden opportunity in ESG
European Parliament Adopts Corporate Sustainability Reporting Directive
From 2024 at the earliest, more European and global companies will need to disclose their ESG activities in greater detail.
By Paul A. Davies, Michael D. Green, and James Bee
On 10 November 2022, the European Parliament adopted a final version of the Corporate Sustainability Reporting Directive (CSRD). The CSRD will require large EU companies (including private companies) and some global companies with significant operations in the EU to regularly report ESG-related information, putting it at the forefront of the trend toward the development of more detailed ESG disclosure regimes that is proliferating worldwide.
Shale Law Weekly Review—Week of November 14, 2022
State Regulation: PA Governor Signs Bill Granting Tax Subsidies for Natural Gas and Hydrogen Usage in Agriculture
On November 3, 2022, Pennsylvania Governor Wolf signed HB 1059, which grants a tax credit of $0.47 per unit of dry natural gas purchased and used in production of petrochemicals or fertilizer. The law includes a
Highlights from Cop 27: Solutions Day
Negotiations over the text of the final Declaration appear to have not progressed significantly since yesterday. The issues holding up progress now are the same issues that had been identified at the outset as key: loss and damage; mitigation gaps (weak NDCs); the $100 billion in climate finance promised to developing countries from 2020; and the doubling of the proportion of the $100 billion going to adaptation projects. The dual Egyptian Foreign Minister and COP President called on delegates to find solutions—though normally the responsibility for moving text forward lies with the host country.
Highlights from COP 27: Biodiversity Day
COP 27 was electrified yesterday by the speech of President-elect Lula of Brazil. Promising to reverse the deforestation of the Amazon and commenting that Brazil is already a global agricultural giant without the need to clear any more rainforest, he called on wealthy nations to make good on their COP 15 pledge to set aside $100 billion per year for adaptation and demanded additional funding for loss and damage, noting that the countries least responsible for climate change were those currently suffering from it the most. He also underlined the importance of international partnerships, including the recent agreement between Brazil, Indonesia, and the Congo to work together on conservation.
CERCLA Has Never Been a “Polluter Pays” Statute
Environment and Energy Report (subscription required) had a story today about growing opposition to EPA’s proposal to list two PFAS compounds, PFOA and PFOS, as hazardous substances under CERCLA. Here’s what really caught my eye about the opposition. The National Association of Clean Water Agencies opposes the proposal. They think it inconsistent with EPA’s
California’s 2022 Proposed Final Scoping Plan
On November 16, 2022, the California Air Resources Board released its proposed final “2022 Scoping Plan for Achieving Carbon Neutrality.” The plan lays out a path for California to achieve carbon neutrality and reduce anthropogenic emissions to 85 percent below 1990 levels by 2045. Notably, it highlights the necessity for carbon capture and carbon removal to achieve net negative emissions. California is an ideal testing ground for CCS for several reasons, including a culture of innovation, good geology for storage, and aggressive state targets on emissions.
Updates From Week One of COP27: Article 6 Negotiations and US Announcements
Extensive negotiations focused on finalizing the details of a “rulebook” for an international carbon market under Article 6 of the Paris Agreement.
By Jean-Philippe Brisson, Paul A. Davies, Sarah Fortt, Betty M. Huber, Michael Dreibelbis, and Qingyi Pan
The 27th annual Conference of Parties (COP27) of the United Nations Framework Convention on Climate Change (UNFCCC) is well underway in Sharm el-Sheikh, Egypt. Over the past week, governments, corporations, non-governmental organizations, academics, and other members of civil society have been invited to discuss and collaborate on strategies for reducing carbon emissions and achieving net-zero targets.
Last year, COP26 in Glasgow led to notable progress in relation to global carbon credit markets and climate change mitigation. Significantly, a large number of countries that are party to the UNFCCC and the Paris Agreement signed the “Glasgow Climate Pact,” in which they agreed, among other things, to focus on limiting the global average temperature rise to 1.5°C above pre-industrial levels. It is critical that COP27 continues to build on the Glasgow Climate Pact to keep this momentum going.
This year as in prior years, Latham & Watkins is participating in the summit by speaking on panels and working with clients. This blog post summarizes the highlights from the first week of COP27. Latham will continue to monitor developments at the summit and will report on any final text adopted by the parties to the UNFCCC.