SustainaBase’s Post

On your marks, Get set, HALT   Within days of being passed, the US SEC’s climate disclosure rule was temporarily halted by the US Court of Appeals. It’s no surprise that the complainants were an oilfield servicing company and an oil fracking business. Ten US states have also filed lawsuits to block the implementation of the rule.   On the other hand, the Sierra Club environmental group has filed a lawsuit against the SEC, arguing that the climate disclosure rule had been overly weakened before its passing.   Prepare for stormy weather....   Read all about it here: https://lnkd.in/eXz8vRgE #climatechange #sec #uscourtofappeals #oilandgas #oilfracking #regulations #environment #uslaw  

The SEC's stay of its long-awaited Final Rule on climate-related disclosures leaves companies in a state of legal uncertainty once again. Companies must decide whether or to what extent they should proceed with certain climate-related disclosures or previously-announced climate commitments, while also considering the timing and impact of the climate disclosures required by California law and by the CSRD in the EU. Sarah Grey and I explore this further in an article published by the American Bar Association's Environment, Energy, and Resources Section on Friday. #capitalmarkets #corporategovernance #climate #SEC #strategy #regulation

Emma Paton and Jemma Hughes from our Burness Paull LLP planning team comment on a significant decision from the UKSupremeCourt (Finch et al) on climate risk considerations in the context of planning applications. In our next blog in this series, we will consider this latest decision as part of a broad look at climate change litigation. #climatechange #climagechangelitigation #collectiveaction

SEC Issues Climate Disclosure Rule Last week the U.S. Securities and Exchange Commission issued a rule on climate disclosure requirements for publicly traded companies. The Advocacy team has developed a summary document to highlight the key elements of the rule and provide some preliminary context. It is important to note that immediately following the issuance of the rule, the United States District Court for the Fifth Circuit granted injunctive relief, suspending the rule temporarily amid litigation challenging the regulations brought by Liberty Energy, Inc. The court ruled that the stay was issued due to “irreparable injury in the form of unrecoverable compliance costs and constitutional injuries” that would result from the rule going forward. It is expected that the litigation could take several years to be fully adjudicated. #boma #bomadenver #cre https://lnkd.in/gvGi6nYX

What are the key impacts of this landmark victory for climate campaigners? 🌿 It is likely this will cause more developers to include consideration of scope 3 emissions in EIAs for fossil fuel projects and other high-greenhouse gas emitting proposals (or at least carefully consider their justifications for not doing so). 🌿 This case is the latest in a series of successful strategic litigation cases for environmental protection and showcases the benefits of bringing such a claim, as well as how effective interventions by charities, campaign groups and public bodies can be (Greenpeace UK, Friends of the Earth and The Office for Environmental Protection all intervened). Read more in this informative article by my colleagues Zeina Najjar, Natasha Davies, Leticia Jennings and Matthew Smith. #strategiclitigation #climatechange #environmentalprotection #publiclaw

Legal showdown: Environmentalists and conservatives challenge SEC's climate rule. Learn why groups like Envest Asset Management, LLC and K&L Gates are taking action. https://hubs.ly/Q02rwsdP0 #LegalChallenge #ClimateRegulation #Environmentalists #Conservatives #SEC

California's new Climate Accountability Package, consisting of Senate Bill 253 (SB 253) and Senate Bill 261 (SB 261), represents a significant shift from voluntary reporting towards mandatory reporting on climate issues. Signed into law by Governor Newsom in October 2023, these bills were introduced with the intention of enhancing transparency surrounding climate-related information for businesses that operate within California. For organizations subject to these laws, preparation throughout 2024 will be key as gathering data and establishing robust reporting mechanisms will be essential for compliance: https://hubs.la/Q02q1nN60 #SB261 #SB253 #climatechange #climateaction #sustainability #climatedisclosure

On March 6,  the SEC released its long-awaited final rules on climate disclosure, which have been the subject of intense public debate since they were first proposed in 2022, generating over 24,000 public comments. In Ever.green’s latest blog post, Chief Legal Officer Ben Dickson analyzes the current state of affairs regarding the regulations: ➡ What the rules say  ➡ What the critics say  ➡ How the rules are being challenged in the courts ➡ How signs still point to progress 

General Counsel: the SEC has issued new rules requiring many public companies to report climate-related risks and disclose their Scope 1 and Scope 2 emissions. Other regulations – such as those in the EU or California, include Scope 3 disclosures. Emma Elizabeth Antin Daschbach) Antin Daschbach reviews the new SEC rules and explains why GCs should start gathering their climate disclosure data now. Via Law360 and Hart Energy. Read our summary: https://lnkd.in/gK4JhXdW #ESG #GeneralCounsel #SEC #ClimateLaw