The top U.S. Department of Justice (DOJ) Environmental official has put corporate employees on notice that DOJ is increasing its focus on prosecuting individuals for environmental crimes, including the threat of jail time. In a pre-recorded keynote address to the American Bar Association (ABA) National Environmental Enforcement Conference on December 14, 2021, Assistant Attorney General
On November 16, Illinois enacted the Reimagining Electric Vehicles Act (REV Act) which states that its purposes include “reduc[ing] carbon emissions, creat[ing] new good-paying jobs, and generat[ing] long-term economic investment in the Illinois business economy.”
The REV Act provides income tax credits for electric vehicle (EV) manufacturers, including EV parts suppliers such as battery and
On November 2, 2021, the U.S. Environmental Protection Agency (EPA) announced a proposed rule involving three separate actions aimed at establishing a comprehensive and more stringent regulatory regime to reduce emissions from oil and gas operations across the United States (the Proposed Rules). The Proposed Rules seek to reverse the Trump Administration’s relaxation of methane
The United States Environmental Protection Agency (EPA) recently made several announcements regarding its goals for investigating, regulating, and remediating Per- and Polyfluoroalkyl Substances (PFAS), a group of chemicals used in a variety of consumer and industrial products since the early 1940s. In the environment, PFAS can be found in soil, groundwater, surface water, and the
“Climate change is an emerging threat to the financial stability of the United States.” So begins a recently issued Financial Stability Oversight Council (FSOC) Report, identifying climate change as a financial risk and threat to U.S. financial stability and highlighting a need for coordinated, stable, and clearly communicated policy objectives and actions in order
Environmental justice remains a top concern for the Biden Administration. The United States Environmental Protection Agency (U.S. EPA) recently highlighted in its 2022-2026 Strategic Plan (Strategic Plan) that it intends to enhance use of the Civil Rights Act of 1964 to “embed environmental justice and civil rights in the Agency’s core work” and to “strengthen
In one of the latest developments in the Biden administration’s recent initiatives to strengthen environmental, social, and governance (ESG) efforts in the United States, the U. S. Department of Labor (DOL) announced last week that it would not enforce a final rule requiring fiduciaries subject to ERISA to evaluate investment opportunities based upon financial performance
Last week, the U.S. Securities and Exchange Commission (SEC) announced the creation of a new 22-person Climate and Environmental, Social, and Governance (ESG) Task Force in its Division of Enforcement, a notable development in a series of recent steps taken by the Biden administration focused on increasing ESG accountability.
Over the past several years, Environmental, Social and Governance (ESG) initiatives have gained popularity among investors, but have gained less traction in federal law. ESG are a set of criteria that investors use to evaluate the environmental and societal impacts of a business. Some European countries require that companies report their ESG metrics, but ESG
