Last week, the Division of Corporation Finance (Corp Fin) of the Securities and Exchange Commission (SEC) published an illustrative letter that provides samples of comments, which the SEC may issue to companies regarding...more
The Biden administration's governmentwide approach to addressing climate change throughout all industries puts an unprecedented degree of pressure on traditional energy sources to prioritize innovation in order to sustain...more
9/20/2021
/ Biden Administration ,
Climate Change ,
Department of the Interior ,
Energy Projects ,
Energy Sector ,
Environmental Policies ,
Environmental Protection Agency (EPA) ,
Fossil Fuel ,
G7 ,
Oil & Gas ,
Renewable Energy
Key Points -
In the lead-up to November’s COP26 meeting in Glasgow, the United States has joined much of the rest of the world in its pursuit of a clean-energy economy that reduces emissions and environmental impacts from...more
In a speech last week before the Principles for Responsible Investment’s “Climate and Global Financial Markets” Webinar, the Securities and Exchange Commission’s (SEC) Chair Gary Gensler made another case for mandatory...more
The U.S. Senate recently passed the bipartisan Growing Climate Solutions Act (Act) by a 92-8 vote to help American farmers, ranchers and private forest owners adopt, and ultimately profit from, activities that reduce or...more
Yesterday evening, President Biden signed Congress’s resolution to use the Congressional Review Act (CRA) to reject a September 2020 U.S. Environmental Protection Agency (EPA) rule that rescinded methane emission standards...more
President Biden’s Leaders Summit on Climate has wrapped up. The event saw world leaders highlighting their countries’ respective climate commitments, calling for collective action, and attending breakout sessions designed to...more
Key Points
- On Earth Day, the Biden-Harris administration announced a new target for the United States to achieve a 50 to 52 percent reduction in economy-wide GHG emissions by 2030, which constitutes the country’s new NDC...more
5/3/2021
/ Biden Administration ,
Clean Power Plan ,
Climate Change ,
Electricity ,
Environmental Policies ,
Environmental Protection Agency (EPA) ,
Environmental Social & Governance (ESG) ,
Greenhouse Gas Emissions ,
Intended Nationally Determined Contributions (INDC) ,
NHTSA ,
Paris Agreement ,
Zero-Emission Vehicles
Late last week, newly confirmed Department of the Interior (DOI) Secretary Deb Haaland took two major steps to advance the Biden-Harris administration’s climate priorities and accelerate the shift to a clean energy future....more
On Earth Day, April 22, President Biden will launch a two-day Leaders Summit on Climate, a key lead-up meeting to this November’s United Nations climate talks in Glasgow. The President invited over 40 world leaders to the...more
In this episode, Akin Gump’s Amy Kennedy and Stacey Mitchell, two of the firm’s ESG group co-heads, walk listeners through environmental, social and governance considerations for business.
Among the topics covered:
- U.S....more
3/26/2021
/ Climate Change ,
Corporate Governance ,
Corporate Social Responsibility ,
Disclosure ,
Environmental Social & Governance (ESG) ,
Green Bonds ,
Green Loans ,
Investors ,
Publicly-Traded Companies ,
Sustainability ,
Sustainability-Linked Loans (SLLs)
Key Points
- On Wednesday, March 10, 2021, the U.S. Senate confirmed Michael Regan as the next EPA Administrator.
- Although Regan and most of the Biden-Harris administration’s other high-level EPA officials have fairly...more
The Securities and Exchange Commission (SEC) continued to build on its climate and environmental, social and governance (ESG) agenda last week. On March 3, the SEC’s Division of Examinations announced the release of its 2021...more
The Biden administration’s Interagency Working Group on the Social Cost of Greenhouse Gases (the “Working Group”) took its first step to update the costs to society from carbon dioxide, methane and nitrous oxide pollution....more
On Tuesday, March 2, Democrats on the House Energy and Commerce (E&C) Committee introduced a sweeping climate proposal—the Climate Leadership and Environmental Action for our Nation’s (CLEAN) Future Act—an amended version of...more
Late last week, the Justice Department withdrew nine Trump-era policy and guidance documents that shaped how the Department’s Environment and Natural Resources Division (ENRD) enforced environmental law during the past...more
Yesterday, we wrote about the potential impact of the nomination of so-called “Money Cop” Gary Gensler to chair the U.S. Securities and Exchange Commission (SEC). Well, now it appears that Gensler will have a new sheriff on...more
Last week’s “Climate Day” actions grabbed headlines primarily for how they respond to climate risk through increased federal coordination. Equally important may be the actions the Biden administration took that day to combat...more
Key Points
- Mandatory ESG requirements could be an early priority for SEC chair nominee Gary Gensler, with increasing calls from within the SEC to require material ESG risk disclosures.
- The EU recently implemented...more
2/3/2021
/ Business Strategies ,
Climate Change ,
Corporate Governance ,
Corporate Social Responsibility ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
EU ,
Publicly-Traded Companies ,
Securities and Exchange Commission (SEC) ,
Sustainability ,
UK
As we previewed yesterday morning, January 27 was the Biden administration’s “Climate Day.”
Yesterday’s actions—two executive orders and a presidential memorandum—provided further detail on the President’s roadmap for...more
Wednesday, January 27 is the Biden administration’s first “Climate Day.” We expect the President to issue a bevy of Executive Orders (EO) that will set the tone for his ambitious climate agenda over the next four years. In...more
Key Points
- President Biden’s Day One Executive Order on climate action reconvenes an interagency working group to establish interim and final social costs of three GHGs: carbon dioxide, nitrous oxide and methane.
-...more
1/28/2021
/ Biden Administration ,
Climate Change ,
Department of the Interior ,
Energy Sector ,
Environmental Policies ,
Environmental Protection Agency (EPA) ,
Executive Orders ,
FERC ,
Greenhouse Gas Emissions ,
Legislative Agendas ,
NEPA ,
Net Zero ,
Regulatory Agenda ,
Working Groups
Key Points
- The Biden administration’s Day One climate actions have put traditional energy sources squarely in its crosshairs. In addition to rejoining the Paris Agreement, the administration paused the issuance of oil...more
Key Points
- President Biden signed an Executive Order to rejoin the Paris Agreement on Day One of his administration.
- This action underscores that climate change is one of President Biden’s highest priorities and...more
Thursday’s Senate Judiciary Committee vote to advance to the full Senate the Supreme Court confirmation of Judge Amy Coney Barrett portends an arduous future for both legislative and regulatory efforts to address climate...more