The Trump administration’s SEC has begun the process of undoing the mandatory climate disclosure rule promulgated by the SEC under the Biden administration. Specifically, the SEC has now asked the Eighth Circuit — where the...more
In December 2024, the State of New York enacted the “Climate Change Superfund Act,” which would impose retroactive fines on fossil fuel producers for greenhouse gas emissions that contribute to climate change. (New York was...more
In June 2023, Mintz published an article entitled “A Quantitative Analysis of Comment Letters Issued by the SEC Concerning Climate Change Disclosures” (the June 2023 Article), which analyzed the comment letters related to...more
2/20/2025
/ Climate Change ,
Corporate Governance ,
Disclosure Requirements ,
EDGAR ,
Enforcement Actions ,
Environmental Social & Governance (ESG) ,
Greenwashing ,
Publicly-Traded Companies ,
Reporting Requirements ,
Securities and Exchange Commission (SEC) ,
Sustainability
In a development that could hardly be termed unexpected, the Trump Administration SEC has begun the process of unraveling the climate disclosure rule promulgated by the SEC under the Biden Administration. Specifically, the...more
Over the past several weeks, each of the major US banks have announced their withdrawal from the Net Zero Banking Alliance (presumably in response to the policy priorities of the second Trump Administration). Although...more
Judge Wright (C.D. Cal.) has significantly narrowed the Chamber of Commerce's lawsuit challenging California's climate disclosure laws. (These disclosure laws mandate disclosure of Scope 1, Scope 2, and Scope 3 greenhouse...more
2/7/2025
/ California ,
Chamber of Commerce ,
Climate Change ,
Compliance ,
Constitutional Challenges ,
Corporate Counsel ,
Disclosure Requirements ,
First Amendment ,
Greenhouse Gas Emissions ,
Interstate Commerce ,
Regulatory Requirements ,
State and Local Government ,
Supremacy Clause
Regulatory Updates -
There have been a couple of noteworthy developments in recent weeks concerning the mandatory climate disclosure regime enacted by California. These developments relate to SB 253 and SB 261, which...more
1/8/2025
/ Antitrust Provisions ,
California ,
Climate Change ,
Damages ,
Disclosure Requirements ,
Environmental Litigation ,
Environmental Policies ,
Fossil Fuel ,
Greenhouse Gas Emissions ,
Montana ,
State Attorneys General ,
Sustainability
On December 18, 2024, the Montana Supreme Court issued a ruling upholding a lower state court's decision that, under Montana's constitution, there is a “fundamental constitutional right to a clean and healthful environment...more
On December 16, 2024, the California Air Resources Board--the regulatory agency responsible for implementing California's mandatory climate disclosure regime--solicited public feedback concerning the design of the regulation....more
2 On December 5, 2024, the California Air Resources Board--the agency responsible for implementing California's climate disclosure regulations--announced that it would “exercise enforcement discretion for the first reporting...more
According to a recent report, the climate disclosure rules recently promulgated by the European Union will compel more than 3,000 U.S. companies to file mandatory climate-related disclosures. This fact demonstrates the...more
Last week, the State of Maine became the latest state or local government to sue the major fossil fuel companies for damages related to climate change. There are around three dozen lawsuits bringing common law and state tort...more
Three years ago, a court in the Netherlands had ruled that Shell--a multinational fossil fuel company based in the Netherlands--had the obligation to reduce its carbon dioxide emissions by forty-five percent by 2030, relative...more
In the latest episode of the Mintz on Air: Predictions and Practical Policies Podcast, ESG Co-chair Jen Rubin moderates a forward-looking discussion on what businesses can expect for ESG, clean tech, and energy regulation...more
On November 5, a federal district court judge in California denied plaintiffs' motion for summary judgment in a facial challenge to California's climate disclosure laws. Although this ruling is relatively limited in...more
Over the past several years, there have been more than three dozen lawsuits launched against the major fossil fuel companies seeking damages due to climate change caused by greenhouse gas emissions. These claims are based...more
This week, the Hawaii Supreme Court--in response to certified questions of law from the federal district court in Hawaii--held that the insurance policies purchased by fossil fuel companies in Hawaii would not provide...more
This summer, California Governor Newsom had proposed that California delay the implementation date of its climate disclosure law for two years. The California legislature rejected this proposal, instead passing S.B. 219,...more
The Securities & Exchange Commission has disbanded its Climate & ESG Task Force, which had been launched with great fanfare in March 2021 at the beginning of the Biden administration. However, the Climate & ESG Task Force had...more
Recently, Governor Newsom proposed that California delay the implementation of its recently-enacted climate disclosure laws for two years. The California legislature has effectively rejected this proposal by passing S.B....more
Companies in Australia will soon have to abide by a set of significant climate disclosures aligned with the International Sustainability Standards Board guidelines. These disclosures, which will impose significant compliance...more
Last week, the Dutch central bank released a study that concluded that “[s]ince 2020, a clear price difference has emerged between the costs of borrowing for companies with relatively high carbon emissions and those with...more
On June 24, the State of Hawaii entered into a settlement agreement with a group of thirteen plaintiffs, all minor children, concerning the impact of climate change and the efforts the State of Hawaii would make to reduce its...more
On August 12, 2024, three Congressional Democrats (Casten (D-IL); Waters (D-CA); and Senator Whitehouse (D-RI)) sent a letter to the National Association of Insurance Commissioners (NAIC), inquiring as to “the status of the...more
Earlier this year, the SEC issued its long-awaited regulation concerning mandatory climate disclosures. As expected, this climate disclosure rule was immediately challenged in the courts by, among others, conservative states...more