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On April 7, 2023, the Federal Reserve Bank of New York released two staff reports on climate-related risks for financial institutions. While the staff reports do not suggest or impose legal requirements, they provide financial institutions with insights on banking regulators’ positions on climate-related risk management requirements and current industry practices. In this Legal Update,

“First movers” in a regulatory field often need to recalibrate their approach.  Maine is no exception as it seeks to implement the broadest reporting and use ban in the country addressing per- and polyfluoroalkyl substances (“PFAS”) chemicals in consumer products.   With other states watching their experiment carefully, Maine’s legislature and Department of Environmental Protection (“MDEP”)

On 25 April 2023, the European Parliament’s Legal Affairs Committee voted in favour of a revised version of the EU draft Corporate Sustainability Due Diligence Directive (“the Draft Directive”).

The revised version differs from the versions that we have previously commented on here, here and here in the following key respects:

  • Inclusion of financial

President Biden signed a new Executive Order (E.O.) to advance environmental justice (EJ) late last week, just in time for Earth Day. E.O. 14096, Revitalizing Our Nation’s Commitment to Environmental Justice for All, aims to carry out its title through a bevy of actions, including requiring agencies to create EJ strategic plans, directing research

On 12 April, the European Supervisory Authorities (ESMA, EBA, and EIOPA1) published a Consultation Paper proposing amendments to the European Commission’s Regulatory Technical Standards that implement Europe’s comparatively new environmental, social, and governance (ESG) regime – the Sustainable Finance Disclosure Regulation (SFDR).

Continue reading the full GT Alert.

The state must dramatically expand its energy infrastructure and renewable energy sources to satisfy growing demand for electricity while meeting ambitious climate goals, according to California Independent System Operator’s Draft 2022-2023 Transmission Plan.

By Marc Campopiano, Joshua Bledsoe, Julie Miles, and Shawna Strecker

California has committed to ambitious carbon reduction targets and

GHG Emissions: EPA Announces New Standards with Vehicle Emissions Reduction Goals
On Wednesday, April 12, 2023, the Environmental Protection Agency (EPA) announced new emissions standards for light-duty and medium-duty vehicles manufactured from 2027 to 2032. As proposed, these standards would become increasingly stringent across the six-year period, both for light- and medium-duty vehicles. The new

The Florida Rules of Civil Procedure aim “to secure the just, speedy, and inexpensive determination of every action and proceeding.” For a corporate defendant, the difficulty of obtaining summary judgment in Florida state courts seemed anathema to that goal. Two years ago, however, the Florida Supreme Court amended its summary judgment standard to conform with the Federal

On April 13, 2023, the Commissioners of the Nuclear Regulatory Commission (NRC) voted to approve a proposal that will accelerate the commercialization of fusion energy in the United States.  Specifically, the NRC determined that fusion energy be regulated under the Nuclear Regulatory Commission’s byproduct material framework contained in 10 C.F.R. Part 30, “Rules of