On October 7, 2023, California Governor Gavin Newsom signed into law two sweeping climate disclosure bills, Senate Bill 253 (“SB 253”), the Climate Corporate Data Accountability Act, and Senate Bill 261 (“SB 261”), the Climate-Related Risk Act. Taken together, SB 253 and SB 261 overlap the U.S. Securities and Exchange Commission’s proposed climate disclosure rule (the “SEC Proposed Rule”), and expand upon it in several significant ways. The SEC Proposed Rule addresses both greenhouse gas (“GHG”) emissions and climate risk, while the California measures separate the two, with SB 253 addressing GHG emissions, and SB 261 addressing climate risk.Continue Reading Change is in the Air: Everything You Need to Know About California’s Sweeping New Climate Disclosure Laws
Nicholas W. (“Nico”) van Aelstyn is a partner in the Real Estate, Energy, Land Use & Environmental Practice Group in the firm’s San Francisco office.
In the closing weeks of 2022, the California Air Resources Board (“CARB” or “Board”) approved its final 2022 Scoping Plan, which sets forth a detailed roadmap to accelerate the reduction of greenhouse gas (“GHG”) emissions in order for the state to achieve carbon neutrality by 2045, with an interim goal of achieving a reduction in GHG emissions of 40% below the 1990 level by 2030 (the goal adopted by the State in 2017’s SB 32).Continue Reading California Air Resources Board Adopts 2022 Scoping Plan
U.S. state and federal lawmakers, as well as federal regulators, are increasingly focusing on the role of blockchain and distributed ledger technology in ongoing efforts to combat climate change and to facilitate the transition from carbon-based fossil fuels.Continue Reading Lawmakers and Regulators Examine Role of Blockchain Technology in Energy Transitions
The 2021 Infrastructure Investment and Jobs Act (IIJA) provided $1.2 trillion in federal funding for infrastructure, including approximately $384 million to support California EV infrastructure through the National Electric Vehicle Infrastructure (“NEVI”) formula program. This sum supplements significant State investments, bringing California funding dedicated to expanding EV Infrastructure to nearly $3 billion through 2026.Continue Reading A Quick Guide to EV Charging Infrastructure Funding and Incentives in California
With the change in administration in Washington, D.C., President Biden elevated Federal Energy Regulatory Commission (“FERC”) Commissioner Richard Glick to the position of Chairman. A Democrat, Commissioner Glick now assumes…
Continue Reading Six Key Items to be Aware of Today Concerning FERC Carbon Pricing Policy
The International Civil Aviation Organization (ICAO) has determined that 2019, rather than 2020, will be used as the emissions baseline for the Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA). Here are six carbon financing impacts coming out of ICAO’s decision.
Continue Reading CORSIA Baseline Emissions Decision
On Thursday, March 26, the United States Environmental Protection Agency (“EPA”) announced and issued a Memo establishing an agency-wide temporary enforcement policy suspending or staying a broad array of enforcement efforts for certain environmental regulations and requirements in response to the COVID-19 pandemic. The Memo states that EPA recognizes that “the pandemic may affect facility operations and the availability of key staff and contractors and the ability of laboratories to timely analyze samples and provide results.” In light of this, the Memo states that EPA will “focus its resources largely on situations that may create an acute risk or imminent threat to public health or the environment.” The Memo establishes certain limits on the policy as well as procedures that must be followed – which are different in different circumstances – in order for an impacted regulated entity to qualify for relief under the Policy.
Continue Reading U.S. EPA’s Temporary COVID-19 Enforcement Discretion Policy