By Paul A. Davies and Michael D. Green As the COVID-19 pandemic continues to cause economic disruption, the UK government (government) has established five working groups tasked with discussing and evaluating economic recovery measures. The groups will focus on five key themes, including “Green recovery: how to capture economic growth opportunities from the shift to … Continue Reading
Statements by the SEC’s Investor Advisory Committee and Asset Management Advisory Committee point to the growing need for action on ESG. By Paul A. Davies, Paul M. Dudek, and Kristina S. Wyatt Recommendations of the Investor Advisory Committee “The use of ESG-related disclosures has gone from a fringe concept to a mainstream, global investment and … Continue Reading
The proposal signals continued convergence of international standards as the green bond market further matures. By Paul Davies, Michael Green, and Aaron Franklin On 29 May 2020, Chinese regulators published a draft of their 2020 revision to the Green Bond-supported Project Catalogue (Green Project Catalogue) for comments. The Green Project Catalogue comprises a list of … Continue Reading
Economic operators are facing a number of practical and legal questions as EU and national authorities work to facilitate the supply of biocidal products. By Cesare Milani and Federica Rizzo The COVID-19 crisis has increased demand for disinfectants, hand cleaners, and other biocidal products, resulting in general shortages across most EU Member States. Many companies are currently working … Continue Reading
Agencies following the state’s open meeting laws must balance public safety imperatives with advancing critical projects as they determine how to hold public meetings while Californians can’t go out in public. By Nikki Buffa, Taiga Takahashi, Samantha K. Seikkula, and Julie Miles California’s two open meeting laws — the Brown Act and the Bagley-Keene Open … Continue Reading
The EU Commission aims to enshrine into law the 2050 climate-neutrality target and has taken further steps to establish a unified EU “green” classification system. By Paul A. Davies, Michael D. Green, and Federica Rizzo The European Green Deal, presented on 11 December 2019, provides a roadmap with actions aimed at boosting the efficient use of resources and the … Continue Reading
The Action Plan is part of the European Green Deal promoting actions to boost the efficient use of resources by moving to a cleaner and more competitive Europe. By Paul A. Davies, Michael D. Green and Federica Rizzo On 11 March 2020, the European Commission published its Communication to the European Parliament, the Council, the European … Continue Reading
Proposals to enhance climate-related disclosures include promoting the use of the TCFD recommendations. By Paul A. Davies, Nicola Higgs, Chris Horton, James Inness, and Michael D. Green On 6 March 2020, the UK’s Financial Conduct Authority (FCA) launched a consultation primarily focused on enhancing requirements on certain listed companies to make climate-related disclosures (the Consultation). … Continue Reading
The Airports National Policy Statement is ruled illegal as a result of government failure to take account of its Paris Agreement commitments. By Paul A. Davies and Michael D. Green In R (Plan B Earth and Others) v. Secretary of State for Transport and others, the Court of Appeal in England (the Court) heard an … Continue Reading
Wildfires, ride-sharing, community choice aggregation, and more bring increased regulatory risk. By Marc T. Campopiano, Charles C. Read, and Brian F. McCall The California Public Utilities Commission (CPUC) has tremendous influence on public utility regulation in California and beyond. The CPUC has the biggest staff of any state utilities commission and has issued fines and … Continue Reading
The new amendments seek to clarify the division of responsibility for providing warnings among upstream entities, intermediaries, and retailers. By: Michael G. Romey, Lucas I. Quass, and Kevin A. Homrighausen On April 1, 2020, new amendments to the implementation regulations of California’s Safe Drinking Water and Toxic Enforcement Act of 1986 (Prop 65 Regulations) will … Continue Reading
The Court’s decision has important implications for the French Constitution and the interplay between economic growth and the environment. By Paul A. Davies, Fabrice Fages, and Michael D. Green On 31 January 2020, the French Constitutional Court (Conseil Constitutionnel) took a decision that aimed to balance the protection of the environment and human health … Continue Reading
The Initiative aims to grant investors, consumers, and other stakeholders a clearer picture of companies’ non-financial performance. By Paul A. Davies and Michael D. Green On 30 January 2019, the European Commission began a consultation process on a potential initiative to revise and improve the Non-Financial Reporting Directive (NFRD) (the Initiative). The Commission has not … Continue Reading
Policy makers and regulators seem keen to adopt both a “carrot” and “stick” approach to channelling private finance sustainably. Financial services regulators have been particularly vocal in the last 12 months, specifically about the impact on the financial services sector as the world experiences, and attempts to respond to, climate change. Mark Carney, outgoing governor … Continue Reading
How companies that are unable to issue green bonds can still participate in sustainable finance. By Paul A. Davies, Aaron E. Franklin, and Kristina S. Wyatt If the 2010s were the decade in which green bonds took hold, the 2020s will be the decade in which sustainable finance hits the broader marketplace. The green bond … Continue Reading
Court finds the Netherlands’ 20% greenhouse gas emissions target to be unacceptable, citing the UN Framework Convention on Climate Change and the ECHR. By Paul A. Davies and Michael D. Green On 20 December 2019, the Dutch Supreme Court upheld the Court of Appeal ruling in the Urgenda case, determining that the Dutch State was … Continue Reading
The proposed federal permitting regime includes some surprising provisions, including no permit expiration and no proposed application deadline for most units. By Claudia M. O’Brien and Stacey L. VanBelleghem On December 19, 2019, the US Environmental Protection Agency (EPA) released a proposed rule to establish a federal permitting program under the Resource Conservation and Recovery … Continue Reading
The final text of Principle 5 requires a consultation process between the client and the indigenous community. By James R. Barrett, Paul A. Davies, and Michael D. Green On 18 November 2019, the Equator Principles Association (EP Association) adopted the most recent iteration of the Equator Principles (EPs), the fourth version of the EPs that … Continue Reading
Analysing whether the new Green Deal policies will help the EU achieve climate neutrality. By Paul A. Davies and Michael D. Green On 11 December 2019, the European Commission adopted the European Green Deal (Green Deal), initially proposed earlier in the year by the Commission’s President Ursula von der Leyen. The Commission also presented a … Continue Reading
Under the TCI program, fuel suppliers would be required to hold allowances to cover their reported emissions. By Jean-Philippe Brisson, Joshua T. Bledsoe, and Benjamin W. Einhouse The Transportation & Climate Initiative (TCI), a regional collaboration of Northeast and Mid-Atlantic states and the District of Columbia, has advanced its program to reduce greenhouse gas (GHG) … Continue Reading
A local air district is developing a rule that would require both existing and proposed warehouses to reduce trucking emissions or pay a mitigation fee. By Joshua T. Bledsoe The South Coast Air Quality Management District (SCAQMD or District) is developing a so-called Indirect Source Rule (ISR) that would require Southern California warehouses to reduce … Continue Reading
The legislation includes six key measures to cut greenhouse gas emissions and to reach carbon neutrality by 2050. By Paul A. Davies and Michael D. Green The French Parliament has adopted a new climate energy package to tackle the effects of climate change and boost France’s energy transition endeavors to reach carbon neutrality by 2050. … Continue Reading
The announcements signal how both the Net Zero Review and the IETF will impact the UK’s transition to net zero. By Paul Davies and Michael Green On 2 November 2019, the UK government announced further details on two initiatives focused on helping the UK reach net zero greenhouse gas emissions by 2050. The first of … Continue Reading
The Bill proposes a post-Brexit system of environmental governance to oversee new powers and regulations in four environmental law areas. By Paul A. Davies and Michael D. Green On 15 October 2019, the UK government published the final draft of Environment Bill 2019–20 (the Bill), which aims to set out the government’s environmental priorities post-Brexit. … Continue Reading
