Action
On May 28, 2024, the U.S. Departments of Treasury, Agriculture, Energy, and White House representatives published a joint Policy Statement on voluntary carbon markets (VCMs). The Policy Statement sets out seven principles to guide engagement with VCMs, and the principles are designed to ensure that VCMs are effective, fair, and equitable, and instill market
Introduction
On April 19, 2024, the Environmental Protection Agency (EPA) announced a final rule adding perfluorooctanoic acid (PFOA) and perfluorooctane sulfonic acid (PFOS) to the list of hazardous substances regulated under the Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA), commonly known as the “Superfund” statute. This designation, which had been expected for several years
On March 6, 2024, the Securities and Exchange Commission (“SEC”) approved the long awaited and controversial Climate-Related Disclosure Rules. The proposed rules were originally published in March 2022 and have undergone significant revisions since then. Per the SEC, “The final rules will become effective 60 days following publication of the adopting release in the Federal Register, and compliance dates for the rules will be phased in for all registrants, with the compliance date dependent on the registrant’s filer status.” While the final rules will be phased in over the next decade, certain parts are set to take effect for large companies in 2025.
Under the landmark final rules, registrants, which includes large accelerated filers, accelerated filers, and non-accelerated filers, will have to disclose Scope 1 and 2 emissions that have a “material” impact on their business strategy, results of operations, or financial condition. Additionally, the rules require registrants to disclose the following:
Continue Reading SEC Approves Long Awaited Climate Disclosure Rules
On January 31, 2024, EPA published a press release announcing the impending publication of two proposed rules relating to PFAS and the Resource Conservation and Recovery Act (RCRA): (1) “Definition of Hazardous Waste Applicable to Corrective Action from Solid Waste Management Units” and (2) “Listing of Specific PFAS as Hazardous Constituents.”
Definition of Hazardous
On August 29, 2023, the Environmental Protection Agency (EPA) announced its final Waters of the United States (WOTUS) rule. The new WOTUS rule makes major changes to clarify which wetlands are protected under the Clean Water Act (CWA). The new WOTUS rule is a direct response to the Supreme Court’s Sackett v. EPA decision, which
What is “ESG”?
“ESG” is perhaps the most divisive acronym of this year’s legislative session. But what does it mean?
“Environmental, Social, Governance” is a framework used to evaluate investments and business decision’s impacts on the environment and society. ESG criteria considers things like a company’s carbon footprint and employee wellbeing. ESG practices are being
As economies pivot away from reliance on petroleum, the use of hydrogen is increasingly considered as a key component in a portfolio of alternative fuels and developing technologies to reduce greenhouse gas emissions. This is the first of a multi-part blog series on federal and state legislation being considered to stimulate “energy transition.” This blog
On May 25, 2023, the U.S. Supreme Court issued a 9-0 decision ending a nearly 16-year battle over the Clean Water Act’s (CWA) applicability to certain wetlands. In a five-justice majority opinion, the Court found that the CWA applies only to wetlands that are “as a practical matter indistinguishable” from “relatively permanent, standing or continuously
The Biden administration just announced draft regulations that would require most coal-fired and gas power plants to capture and sequester up to 90 percent of their carbon emissions by the middle of the next decade, a move with the potential to transform the U.S. electricity sector and perhaps offer a boost to the fledgling domestic
The US Environmental Protection Agency (EPA) recently proposed a significant addition to its Renewable Fuel Standards (RFS) program—the renewable electricity RIN (eRIN). The eRIN is a new kind of renewable identification number (RIN) obligated parties could obtain to meet their renewable volume obligations and comply with the RFS program.
Under the current RFS program, obligated