The prospect of facing bicoastal enforcement in two of the largest markets in the US could prove burdensome to businesses.
By Kegan A. Brown, Michael G. Romey, James A. Erselius, and Lucas I. Quass
On January 21, 2019, New York Governor Andrew M. Cuomo announced a proposal for the Consumer Right to Know Act — legislation that would authorize the Department of Environmental Conservation, in consultation with the Department of Health and the Department of State, to develop regulations establishing on-package labeling requirements for designated products indicating the presence of potentially hazardous chemicals, including carcinogens. If passed, the law would parallel California’s Proposition 65, which was enacted in 1986. Regulations updating Proposition 65 went into effect on August 30, 2018, which Latham & Watkins has summarized in previous blog posts.
On 6 March 2019, seven Chinese regulatory agencies issued the Green Industry Guidance Catalogue (the Catalogue) listing “green industries” that are eligible for funding with green bonds. The seven agencies include the National Development and Reform Commission (NDRC), Ministry of Industry and Information Technology, Ministry of Natural Resources, Ministry of Ecology and Environment (MEE), Ministry of Housing and Urban-Rural Development, The People’s Bank of China, and the National Energy Board.
In September 2015, Bank of England Governor Mark Carney delivered his milestone Tragedy of the Horizon (Tragedy) speech. This speech warned that climate change will lead to financial crises, falling living standards, political instability, and profound implications for the financial sector and economy.
The European Union (EU) is committed to being the global leader in fighting climate change and implementing the Paris Agreement. Since climate change is increasingly viewed as a risk factor with respect to financial stability, the EU is now focusing on the financial sector in its efforts to implement the Paris Agreement and improve the sustainability and competitiveness of the EU economy.
On August 30, 2018, new regulations governing the implementation of California’s Safe Drinking Water and Toxic Enforcement Act of 1986 (Prop 65) went into effect. The new regulations apply to all products manufactured after that date and require updated warnings that must appear on product labels in addition to other substantive changes. For an overview of the amendments, please refer to Latham’s four-part “
At the 2014 National People’s Congress, Chinese Premier Li Keqiang’s rhetoric adopting an “iron fist” approach in a “war against pollution” represented a stunning volte-face from China’s relaxed environmental oversight and prioritization of economic growth over the preceding four decades.
The UK Stewardship Code (the Code) was originally published in 2010 following a review of corporate governance. The Financial Reporting Council (FRC) has responsibility for the Code, and promotes the long-term success of companies, outlines principles underlying an effective board, and fosters active investor monitoring and engagement of companies. All UK-authorised asset managers are required to produce a statement of commitment to the Code or to explain why the Code is not appropriate for their business model (the “comply or explain” approach discussed below). As such, there are 305 signatories to the Code, which primarily include asset managers and asset owners (pension funds, endowment funds, and charities).
The Regional Greenhouse Gas Initiative (RGGI) may soon have a transportation-focused companion to its functioning power plant-focused cap-and-trade program. Operating under the banner of the 
The Chinese Ministry of Ecology and Environment’s (MEE’s) draft Regulation on Environmental Risk Assessment and Control of Chemical Substances (Regulation) is likely to have broad implications for companies that manufacture, process, import, or export more than 100kg of any chemical substance in China. The framework represents China’s first comprehensive regulation of environmental risks from chemical substances.
Phasing out sulfur hexafluoride (SF6) gas-insulated equipment (GIE)