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Inflation Reduction Act
Update on Securities and Exchange Commission’s Landmark Proposed Climate-Change Disclosure Rulemaking
Things to Consider Rulemaking Coordinate closely with trades to ensure their comments reflect concrete information about impracticability and cost; these make a difference in the admin record upon judicial review Trade associations and industry groups are taking the lead on...
SEC Brings First Major ESG Enforcement Action
More than a year after creating its Climate and ESG Task Force in March 2021 , the Securities and Exchange Commission’s ESG-related enforcement goals are finally being realized. The SEC recently brought a fraud action against Vale S.A., a publicly...
Litigation and Enforcement Impact of the SEC's Proposed Rules on Climate-Related Disclosure
The Securities and Exchange Commission’s Proposed Rules on Climate-Related Disclosure, released March 21, 2022, represent a significant change in public company disclosure requirements and, if adopted, will have far-reaching effects not only on all public companies but also on those...
Corporate Governance Considerations Under the SEC's Proposed Climate Disclosure Rules
As we have noted previously , the U.S. Securities and Exchange Commission’s recently proposed rules governing climate-related disclosures, if adopted as proposed, would represent a sea change to the existing public-company disclosure regime. We focus here on the corporate-governance aspects...
Hurdles Ahead for the SEC's New Climate Disclosure Proposal
On March 21, 2022, the Securities and Exchange Commission (SEC) released its much-anticipated proposed rule on climate-related disclosure and accounting, “Enhancement and Standardization of Climate-Related Disclosures for Investors.” The scope and obligations of the 140-page proposal are gradually becoming clearer—and...
Attestation: Practical Reflections on What the SEC Climate Proposal Will Require
Among the many changes set forth in the U.S. Securities and Exchange Commission’s proposed rules governing climate-related disclosures are the attestation requirements 1 covering registrants’ greenhouse gas (GHG) emissions disclosures. This article provides a general overview of these attestation requirements...
Summary Outline of SEC's Proposed Rule on Climate-Related Disclosure and Accounting
The SEC’s proposed rule on climate-related risks includes amendments to both the financial reporting requirements (Reg S-X) and the narrative disclosure requirements (Reg S-K). The proposal interlinks the new requirements, drawing aspects of the required narrative disclosures into the financial...
The Shifting Energy Policy Zeitgeist and Investment Implications
On March 24, the Federal Energy Regulatory Commission (FERC) made an unexpected and bipartisan about-face on its freshly updated policies for considering the environmental impacts of natural gas infrastructure projects like pipelines and liquefied natural gas (LNG) export facilities. 1...
The SEC's Proposed Rules on Climate-Related Disclosures – What to Do Now: A Guide for In-House Counsel Facing the Proposed Rules
The U.S. Securities and Exchange Commission’s recently proposed rules governing climate-related disclosures, if adopted as proposed, would represent a sea change to the existing public-company disclosure regime. The rules would require that public companies include the following, among other disclosures...
UAE Employment Law Update
2 February 2022 saw the introduction of a new UAE Labour Law in the form of UAE Federal Law No. 33 of 2021, Regulating Labour Relations (“ New Law ”), repealing the existing UAE Labour Law, UAE Federal Law No...
More Focus on ESG Means More Scrutiny, Litigation and Enforcement, Too
Attention to environmental, social and governance (ESG) factors has reached a new high water mark in recent months and many companies’ level of concern about the potential legal ramifications of ever-expanding ESG reporting and disclosure is not far behind. An...
Nothing is More Expensive Than a Missed Opportunity: A Unique New Moment for Hazardous Waste Generators in Texas
Texas hazardous waste law just notably improved—at least for facilities that take advantage of some recent rules. The Texas Commission on Environmental Quality (“TCEQ”) recently approved a rules package effective on February 3, 2022 that adopts the U.S. Environmental Protection...
An Update on the EU Mandatory Human Rights and Environmental Due Diligence Law – What You Need to Know
In March 2021, the European Parliament voted by an overwhelming majority for the adoption of a binding EU law that requires businesses to conduct environmental and human rights due diligence along their full value chain or face concrete fines, sanctions...
Generic ESG Statements Remain Under Fire: Class Certification Granted for the Third Time as the Saga of the Goldman Sachs Securities Litigation Continues
Back in June, we analyzed the Supreme Court’s decision in Goldman Sachs Group v. Arkansas Teacher Retirement System , which examined the extent to which a corporation’s arguably generic public statements could form the basis of a securities fraud action...
Government Enforcement and Investigations Year-In-Review: The Administration Has Moved Its Pieces into Place
On Monday, President Biden released the United States Strategy on Countering Corruption , which details how the United States will work “domestically and internationally, with governmental and non-governmental partners, to prevent, limit, and respond to corruption and related crimes.” It...