Like many governments around the world, UK politics currently appear somewhat unstable. And the UK’s problems are a reflection of the world, where established views and beliefs are suddenly no longer the unassailable certainties they have seemed to be for decades.
Davos met this week for the first time in two years against this very unsettled backdrop. A few thoughts and reflections on discussions there follow…
The proposed taxonomy for green and transition activities is aligned with increasing global demand for clear and consistent classification of sustainable finance activities.
By Paul Davies and Sabrina Singh
In May 2022, the Green Finance Industry Taskforce — a multi-stakeholder group convened by the Monetary Authority of Singapore to accelerate the development of green finance — released for public consultation a second paper (Consultation Paper) on a Green Taxonomy for Singapore-based financial institutions (Green Taxonomy), with particular relevance to those active across ASEAN. The Consultation Paper follows a first paper on the Green Taxonomy, which was released in January 2021.
At an open meeting on May 25, 2022, the US Securities and Exchange Commission (“SEC” or “Commission”) approved two new proposals regarding ESG that will impact the fund and investment management industry. One of the proposals is directed solely at registered funds and business development companies (BDCs), while the other applies to registered funds, BDCs,
On May 25, 2022, the League of California Cities (“League”) and California State Association of Counties (“CSAC”) filed a 10-page letter with the California Supreme Court requesting it to depublish the First District Court of Appeal’s recent decision in Save the Hill Group v. City of Livermore, Case No. A161573 (my April 4, 2022 post on which can be found here).
By A. Scott Hecker, Benjamin D. Briggs, Adam R. Young, Patrick Joyce, and Craig B. Simonsen
Seyfarth Synopsis: On May 25, 2022, Douglas Parker, Assistant Secretary for the U.S. Department of Labor’s Occupational Safety and Health Administration, testified before the U.S. House Committee on Education and Labor’s Workforce Protections Subcommittee
On May 3, 2022, the Railroad Commission of Texas (Railroad Commission) voted to approve three actions that represent a major step forward in facilitating the deployment of carbon capture, use and sequestration activities (CCUS) in Texas. Specifically, the Railroad Commission approved:
On May 25th, Massachusetts filed suit against a number of companies alleged to have manufactured PFAS and/or aqueous film-forming foam. Massachusetts joins a number of other states which have already brought similar claims. Indeed, Massachusetts filed the case in South Carolina, where an existing multi-district litigation concerning PFAS is already in progress.
The complaint asserts
In an opinion certified for publication on February 16, 2022, the Third District Court of Appeal upheld El Dorado Irrigation District’s decision to certify an environmental impact report (EIR) for and approve the Upper Main Ditch piping project, affirming the trial court’s judgment denying a petition for writ of mandate.
The Upper Main Ditch is
CARB opts to stay the course on Cap-and-Trade Program.
By Joshua T. Bledsoe, Michael Dreibelbis, and Alicia Robinson
On May 10, 2022, the California Air Resources Board (CARB) released its Draft 2022 Scoping Plan Update for public review and comment. Assembly Bill (AB) 32, the California Global Warming Solutions Act of 2006 (AB 32), required CARB to develop a scoping plan, to be updated at least once every five years, that describes the approach California will take to reduce greenhouse gas (GHG) emissions to achieve the goal of reducing emissions to 1990 levels by 2020. In developing the 2022 Draft Scoping Plan Update (Draft Scoping Plan), CARB evaluated four scenarios to identify the most viable path to achieve the state’s 2030 interim GHG reduction and GHG neutrality targets. Our first post on this topic discusses CARB’s ultimate selection of the third scenario, which adopts a carbon neutrality target for 2045 instead of 2035, as the best among the four. In this second post, we discuss how the Cap-and-Trade Program (the Program) features in the Draft Scoping Plan.
On May 24, 2022, the National Academies of Sciences released a report, sponsored by EPA, CDC, and others, on indoor chemistry and air quality issues. The report stresses the importance of these issues given that “people spend, on average, more than 80 percent of their time” in indoor environments, “often in close proximity to sources and processes that emit chemicals” and biological pollutants. A main theme of the report is that there remain many outstanding questions in this area, and that “the management of indoor chemistry is at a nascent stage,” but rapidly evolving.
Several aspects of the report are likely to be of particular interest to companies that market products for indoor use, particularly air cleaning and air sensor products.
