Update: On February 11, 2025, acting SEC Chairman Mark Uyeda issued a statement changing the SEC’s position on the Final Climate Rules. Chairman Uyeda states that he “continue[s] to question the statutory authority of the...more
On March 6, the U.S. Securities and Exchange Commission (SEC) voted (3-2) to adopt final rules entitled, The Enhancement and Standardization of Climate-Related Disclosures for Investors (the “Final Climate Rules”). The Final...more
In addition to signing two significant new laws requiring large companies doing business in California to disclose their greenhouse gas emissions (GHG), Governor Newsom on October 7 signed AB 1305, which creates new...more
The California Legislature recently passed two new laws that impose significant climate-related disclosure obligations on many businesses. The passage of SB 261 and SB 253 are the latest steps in a growing trend to mandate...more
As 2022 comes to a close, mandatory Environmental, Social, Governance (ESG) reporting in the United States remains the subject of much debate and political scrutiny. The European Union (EU) and other jurisdictions are moving...more
The environmental, social, and governance (ESG) oversight train continues to gain momentum with recent efforts aimed at “greenwashing” in investment funds. Several actions reflect a confluence of global efforts to ensure that...more
On March 21, 2022, the Securities and Exchange Commission (SEC) voted (in a 3:1 decision) to propose new rules “To Enhance and Standardize Climate-Related Disclosures for Investors.” The proposed rules would require...more
The Securities and Exchange Commission (SEC) is set to formally consider the possibility of enhanced climate disclosure requirements at its upcoming Open Meeting on March 21, 2022. This meeting will be the latest in a series...more
The Securities and Exchange Commission (SEC) is poised to make good on its promise to ramp up enforcement efforts in relation to climate risk and environmental, social, and governance (ESG) disclosures. Last week, the SEC’s...more
On May 20, 2021, President Biden issued his Executive Order on Climate-Related Financial Risk, stating that it is the policy of the Administration to “advance consistent, clear, intelligible, comparable, and accurate...more
On March 15th, the SEC issued a detailed request for public comments on potential changes to climate risk reporting, and Environmental, Social, and Governance (“ESG”) disclosures more generally. Comments must be submitted by...more
Last week, California Senate Bill (SB) 260, the Climate Corporate Accountability Act was introduced in the California state legislature. If enacted, large corporations doing business in the state of California would be...more
For certain companies that do business within the United Kingdom (UK), new climate risk reporting requirements are coming down the pipeline. On November 9, 2020, the Chancellor of the Exchequer announced that the UK will...more