On June 23, 2022, the American Bankers Association and 51 state bankers associations released a letter to the federal financial regulators that describes principles the regulators should use when developing guidance and regulations on ESG issues (“Industry Letter”). These principles reflect the industry’s view on how the government can maintain a free-market financial system that also
Those wondering what states can do to at least partially ameliorate the impacts of West Virginia v. EPA need look no farther than Massachusetts, which issued its Clean Energy and Climate Plan for 2025 and 2030 the same day that the Supreme Court extended its crusade against the modern world by limiting EPA’s authority to
In 2015, EPA published a rule under the Clean Air Act (“CAA”) targeting coal-fired electricity generators designed to force their shift from coal generation to gas, solar and wind production. The “Clean Power Plan” (“CPP”) rule was projected to reduce the reliance on coal for electricity generation from 38% (2014) to
On June 30, 2022, California Governor Gavin Newsom signed Assembly Bill 205 (“AB 205”), which, among various other things, expands the siting jurisdiction of the California Energy Commission (“CEC”) to include non-thermal generating facilities, such as solar and wind projects, with a capacity of 50 megawatts (MW) or more. The CEC’s siting jurisdiction was previously
In this article, we take stock of the Carbon Border Adjustment Mechanism (CBAM), and similar initiatives in the United States, Canada, the United Kingdom, South Korea, and China, and what they mean for the energy sector.
Key takeaways:
Oil and Gas Leasing: Lawsuit Filed Challenging Federal Leasing Sales
On June 28, 2022, several conservation groups filed a lawsuit challenging the U.S. Department of the Interior and the U.S. Bureau of Land Management’s approval of the sale of 173 oil and gas leasing parcels. The lawsuit, filed in the U.S. District Court for the
In response to growing investor demand for information concerning companies’ sustainability-related financial risks, the sustainability disclosure landscape has rapidly changed over the last decade. In what marks one of the latest developments to the sustainability disclosure landscape, on 29 April 2022, the European Financial Reporting Advisory Group (“EFRAG”) – a private organisation that provides technical
The Colorado River is a critical water source for more than 40 million people, vast agricultural operations, numerous industries, and a wide variety of ecological resources across the seven states that share its waters: Arizona, California, Nevada, Utah, New Mexico, Colorado, and Wyoming. The River is regulated by the United States
The Supreme Court decided West Virginia v. EPA on Thursday, June 30, 2022, curbing the power of the Environmental Protection Agency (EPA) to regulate greenhouse gas emissions from power plants across the country. The decision focuses on EPA’s authority under a specific section of the Clean Air Act. But a closer read suggests more sweeping,
The decision will limit EPA’s options for future regulation of existing power plant GHG emissions and may have broader implications for other federal agency rulemakings.
By Stacey L. VanBelleghem, Karl A. Karg, and Malorie R. Medellin
On June 30, 2022, the US Supreme Court issued its long-awaited ruling in West Virginia v. EPA