In a memo to agency leadership sent earlier this month, EPA Administrator Michael Regan rescinded practices that were instituted by one of his Trump-era predecessors, Scott Pruitt, to eliminate what has been referred to by some as “sue and settle” tactics.
While the settlement of lawsuits is, of course, a common
The Securities and Exchange Commission (SEC or Commission) published proposed rules on March 21 that, for the first time, would codify the Commission’s expectations regarding what kinds of climate-related disclosures public companies must make in their required filings to the SEC. Prior to now, companies have had to rely on 2010 guidance from the Commission
In the partially published Crenshaw Subway Coalition v. City of Los Angeles (2022) 75 Cal.App.5th 917, the Second District Court of Appeal affirmed the trial court’s judgment dismissing the claims of Crenshaw Subway Coalition (Coalition) alleging that the City of Los Angeles and the City Council (collectively, City), represented by the Thomas Law Group on
True to its word, the SEC released its proposed rule, The Enhancement and Standardization of Climate-Related Disclosures for Investors, last week. The rule would require companies to disclose a wide variety of climate-related information, including information about climate-related risks that are reasonably likely to have material impacts on its business and/or its consolidated financial
On March 25, EPA sent a proposed Clean Water Act Section 401 Water Quality Certification rule to the Office of Management and Budget (OMB) for interagency review. Once cleared by OMB, the proposal will be published in the Federal Register for public review and comment. According to the OMB dashboard, EPA considers this proposed
The move towards consolidated, aligned, sustainability disclosure requirements, long identified as an essential element of sustainability efforts, took a major step forward last week. On 24 March 2022, the International Financial Reporting Standards Foundation (“IFRS Foundation”) and the Global Reporting Initiative (“GRI”) announced a collaboration agreement, the purpose of which is to seek to align
Which makes this new environmental rule an overarching environmental mandate all embracing of ESG, the biggest business opportunity in history, waiting to be unlocked.
By Benjamin D. Briggs, Adam R. Young, A. Scott Hecker, and Craig B. Simonsen
Seyfarth Synopsis: The federal Occupational Safety and Health Administration (OSHA) has reopened its rulemaking record and scheduled an informal public hearing to seek comments on specific topics that relate to the development of a permanent OSHA standard to protect
Original Kelley Drye Client Advisory posted by Courtney Kleshinski on March 22, 2022.
On March 21, the U.S. Securities and Exchange Commission (SEC) unveiled its long-anticipated draft proposed rules for mandatory climate disclosures that would align the United States with other developed economies, particularly the EU and the UK, which have focused on financial disclosures
We previously reported on requirements for Scope 3 emissions in the proposed climate disclosure rule released by the U.S. Securities Exchange Commission (“SEC”) on March 21, 2022 (“Proposed Rule”). In addition to Scope 3 emissions, the Proposed Rule would also require a registrant to disclose information about its direct GHG emissions (Scope 1) and indirect