News & Analysis as of

Climate Change Disclosure Requirements Environmental Social & Governance (ESG)

McDermott Will & Schulte

California’s mandatory climate risk disclosure is almost here: Is your company ready?

US public companies put aside their attention on new climate-related disclosure rules adopted in 2024 by the US Securities and Exchange Commission (SEC) because of ongoing litigation challenging these rules and recent changes...more

Jones Day

FCA Publishes Its Findings On TCFD Climate Reporting Following A Multi-firm Review

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On August 6, the UK Financial Conduct Authority ("FCA") released its findings following a multi-firm review of climate reporting by asset managers, life insurers and FCA-regulated pension providers....more

Fenwick & West LLP

CARB Announces Second Virtual Public Workshop on California’s Climate Disclosure Rules

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The California Air Resources Board (CARB) announced last week that it will hold its second virtual public workshop to support the development of California’s Corporate Greenhouse Gas Reporting Program, established by Senate...more

Ropes & Gray LLP

California Air Resources Board Announces Second Virtual Public Workshop – Thirteen Days to Go

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Late yesterday, the California Air Resources Board scheduled a new virtual public workshop. The workshop will be held on Thursday, August 21 at 9:30 a.m. Pacific Time. More information on what will be covered at the workshop...more

Morgan Lewis

Antitrust Scrutiny of ESG Initiatives by State Attorneys General Heats Up

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Recent actions by state attorneys general in Texas and Florida highlight rising antitrust scrutiny of environmental, social, and governance (ESG)-aligned investment strategies and climate disclosure groups. Companies with...more

Mintz - Energy & Sustainability Viewpoints

Sustainable Energy & Infrastructure Litigation Updates — August 2025

There was a noteworthy development in the ongoing legal challenge to the SEC’s mandatory climate disclosure law (dating from the Biden administration), which is currently pending in the Eighth Circuit. Following the decision...more

Wilson Sonsini Goodrich & Rosati

Preparing for SB 261: Climate-Related Financial Risk Disclosure Reports Due by January 1, 2026, for Covered Companies

SB 261 requires companies with over $500 million in total annual revenue that do business in California to publish a climate-related financial risk report (Risk Report) by January 1, 2026, and every two years thereafter,...more

DLA Piper

Horizon - ESG Regulatory News and Trends - July 2025

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Welcome to Horizon, DLA Piper’s monthly bulletin reporting on late-breaking legislative and policy developments in ESG. Our aim is to scan the litigation, enforcement, and regulatory horizon to help inform business decisions....more

Latham & Watkins LLP

SEC Responds to Eighth Circuit, Asking Eighth Circuit to Rule on Climate Disclosure Litigation

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The SEC has stated that a ruling would help it determine the relevance of future rulemaking. On July 23, 2025 the US Securities and Exchange Commission (SEC or Commission) submitted a status report ordered by the Eighth...more

A&O Shearman

FCA publishes final rules on POATR framework and UK Listing Rules

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The UK Financial Conduct Authority (FCA) has published final policy statement (PS25/9) to implement the new Public Offers and Admissions to Trading Regulations 2024 (POATRs), which will replace the UK Prospectus Regulation....more

A&O Shearman

The UK consults on its draft Sustainability Reporting Standards

A&O Shearman on

What do businesses need to know, and how can they prepare? Introduction - On June 25, 2025, the UK government initiated a consultation (the Consultation) on the exposure draft of the UK Sustainability Reporting Standards...more

Mintz

Florida AG Announces Investigation into Climate Nonprofits for Alleged Violations of Consumer Protection and Antitrust Laws Based...

Mintz on

3 On July 28, 2025, the Republican Attorney-General of Florida announced that his office had “issued subpoenas to investigate whether the CDP (formerly the Climate Disclosure Project) and the Science Based Targets Initiative...more

DLA Piper

SEC Asks Eighth Circuit Court of Appeals to Rule on Climate Rules Litigation

DLA Piper on

The Securities and Exchange Commission (SEC) has asked the Eighth Circuit Court of Appeals to lift its stay and issue a ruling in Iowa v. SEC, the case challenging the validity of its landmark Climate Disclosure Rules...more

K&L Gates LLP

June 2025 ESG Policy Update—Australia

K&L Gates LLP on

Australian Update - ASIC Includes Climate-Related Disclosures in its Financial Reporting and Audit Focus Areas for FY2025-26 - The Australian Securities and Investments Commission (ASIC) has published its financial reporting...more

Mintz

SEC Refuses to Answer Whether It Will Enforce Climate Disclosure Law If Upheld by Courts

Mintz on

On July 23, 2025, there was a notable development in the legal proceeding (currently pending in the Eighth Circuit) challenging the validity of the SEC's mandatory climate disclosure law. By way of background, in April...more

Jones Day

Legal Questions for Your Sustainability Team #3

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This series of posts seeks to identify legal questions that can add definition and value to the good work that sustainability teams are doing. Our last post focused on whether the revenue used to evaluate the applicability...more

Fenwick & West LLP

SEC Climate Rule Saga Continues

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The Securities and Exchange Commission’s (SEC) controversial climate disclosure rules have been essentially dead since last March, when the SEC voted to end its defense of the rules. ...more

A&O Shearman

FSB update on progress under 2021 roadmap on climate-related risks

A&O Shearman on

The Financial Stability Board (FSB) has published its 2025 progress report on the implementation of its 2021 Climate Roadmap. The report provides a factual overview of progress made across four key areas: disclosures, data,...more

Jones Day

GRI Releases New Climate and Energy Standards – Significant Reporting Changes Ahead

Jones Day on

The Global Reporting Initiative (GRI) published two new topic standards—GRI 102: Climate Change (2025) and GRI 103: Energy (2025). These standards will replace GRI 305: Emissions (2016), GRI 302: Energy (2016), and Disclosure...more

Akin Gump Strauss Hauer & Feld LLP

EU Moves to Simplify Taxonomy Disclosures Without Undermining Green Goals

On July 4, 2025, the European Commission (EC) adopted a “Delegated Act Amending the Taxonomy Disclosures, Climate and Environmental Delegated Acts,” marking a significant shift in how companies will interact with the European...more

Fenwick & West LLP

Important State Law Developments

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Companies doing business in Texas and California should be aware of the following state law developments, which could affect them....more

Jones Day

Legal Questions for Your Sustainability Team #1

Jones Day on

This series of posts seeks to identify legal questions that can add definition and value to the good work that sustainability teams are doing....more

Proskauer - Regulatory & Compliance

UK Green Taxonomy Shelved as Transition Plans Take Centre Stage

On 15 July 2025, HM Treasury published its response confirming it will no longer pursue a UK green taxonomy – a classification system to define which economic activities could be considered environmentally sustainable (the...more

McDermott Will & Schulte

Canaries and coal mines, US insurers and climate change

Canaries are the most familiar of “sentinel species” – animals (and plants) that can alert us to threats to human health and the environment. Those who know their mining history also know that canaries were first used in...more

Ropes & Gray LLP

The UK’s New Sustainability Reporting Consultations – FAQs for US-based Multinationals

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Many US-based multinationals are required to comply with current UK climate disclosure requirements. Last month during London Climate Action Week, the UK launched three consultations on sustainability reporting, which are...more

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