Wolters Kluwer: Sustainability & ESG Law

Democrat amicus brief says SEC had authority to require public company climate disclosures A group of four Democratic senators and representatives recently filed an amicus brief in the SEC climate case now consolidated in the Eighth Circuit for the purpose of expressing support for the SEC’s climate risk disclosure regulation. According to Sens. Sheldon Whitehouse (D-RI) and Brian Schatz (D-Hawaii), and Reps. Sean Casten (D-Ill) and Juan Vargas (D-Cal), the SEC already has sufficient statutory authority to adopt final rules that require public companies to disclose the risks they face from climate change. The quartet of Democratic leaders on climate issues argued that disclosure of these risks is needed to address the growing systemic economic risks posed by climate change and to counter a fossil fuel industry effort to deny their contributing role in causing climate change (State of Iowa v. SEC, No. 24-1522 (8th Cir. Aug. 26, 2024)). The Democrats’ brief opens with the assertion that the SEC has long had the authority to require public companies to make certain types of disclosures, including climate risk disclosures. The amici cite the Securities Act’s and the Exchange Act’s broad authority conferred by those Act’s provisions granting the SEC authority to make rules “necessary or appropriate in the public interest or for the protection of investors.” This story can be read in its entirety on the Wolters Kluwer Vital Law site (no paywall) at https://lnkd.in/gaZVsCN8. As reported by Mark Nelson. #SEC #ClimateDisclosureRule #DemocraticCongressmen #ClimateChange

DOE embraces AI tools to meet increased energy demands and reach clean energy goals DOE is developing AI platforms intended to improve the way energy projects are sited and permitted at the Federal, state, and local levels. A rapid increase in projected electricity demand in the U.S., stemming in part from the growth in artificial intelligence and data center energy use, is driving the Department of Energy itself to embrace AI tools to achieve clean energy goals, noted a recent agency press release. While the U.S. may be returning to a period of rising electricity demand, with total energy demand potentially growing 15-20% in the next decade, the DOE said it has been anticipating and planning for this rise in electricity demand. Moreover, the growth in energy demand underscores the nationwide goal to reach a net-zero emissions economy by 2050. This story can be read in its entirety (no paywall) on the Wolters Kluwer Vital Law site at https://lnkd.in/gy9vnArW. As reported by Brad Rosen. #AI #CleanEnergy #ElectricityDemand #ZeroEmissions #DataCenters 

GSA issuing final rule updating FMR with DEI and accessibility language Gender-specific pronouns are being replaced with non-gendered pronouns. Consistent with Executive Order 13988, Preventing and Combating Discrimination on the Basis of Gender Identity or Sexual Orientation, issued in January 2021, and the idea that the “Federal Government must be a model for diversity, equity, inclusion, and accessibility, where all employees are treated with dignity and respect,” the GSA is, after review, issuing a final rule updating the Federal Management Regulation regarding gender neutrality. The Federal Management Regulation contains updated regulatory policies concerning property management and related administrative activities. Executive agencies may use the FMR to help manage administrative programs such as personal property, real property, and transportation. This story can be read in its entirety on the Wolters Kluwer Vital Law site at https://lnkd.in/ggyrtsi3.    As reported by Brandi Brown. #DEI #NonGenderedPronouns #GenderIdentity #SexualOrientation #GSA #Discrimination

DOE provides $55 million to expand long-standing Weatherization Assistance Program to address climate change issues The Department of Energy has selected fourteen state and territorial weatherization offices to receive $53.6 million in Sustainable Energy Resources for Consumers (SERC) grants, which provide low-income households with energy saving measures and materials that are not traditionally included in DOE’s Weatherization Assistance Program (WAP). These grants, funded by the Bipartisan Infrastructure Law, support the Administrations’ vision of clean energy access for all Americans, noted a DOE press release. SERC grant recipients and projects. The WAP program has served seven million households since 1976, and those consumers have saved an average of 30 percent annually on their energy bills. In addition to standard weatherization measures, such as improving insulation and sealing cracks and gaps, the current round of SERC grantees will conduct expanded retrofits of low-income residential buildings and utilize a wide range of technologies, such as solar photovoltaic panels, cold climate air source heat pumps, and triple-pane windows, according to the DOE. This story can be read in its entirety (no paywall) on the Wolters Kluwer Vital Law site at https://lnkd.in/g527ktBY. As reported by Brad Rosen. #DOE #CleanEnergy #Sustainability #EnvironmentalJustice #Weatherization #BipartisanInfrastructureLaw

EPA to provide $27 billion in grants to spur development of clean energy projects across the U.S. The Environmental Protection Agency has obligated $27 billion in grants provided by the Greenhouse Gas Reduction Fund, which will create a national financing network for clean energy and climate solutions, according to an agency press release. The funds will be used to prioritize clean energy expansion and innovation, access to affordable clean energy in low-income communities, and affordable solar power for families throughout the country. Greenhouse Gas Reduction Fund Grants. Grant recipients will be receiving funds made possible by three competitions created as part of the Greenhouse Reduction Fund. These include: *    $14 billion from the National Clean Investment Fund (NCIF) which will focus on delivering accessible, affordable financing for clean technology projects in communities across the country; *     $6 billion from the Clean Communities Investment Accelerator (CCIA) which will provide funding and technical assistance to community lenders working in low-income and disadvantaged communities, and, *     $7 billion from the Solar for All program, which will expand existing solar programs for low-income and disadvantaged communities and launch new ones, which will collectively deliver residential solar to over 900,000 low-income households nationwide. This story can be read in its entirety (no paywall) on the Wolters Kluwer Vital Law site at https://lnkd.in/gvdKvGfr. As reported by Brad Rosen. #EPA #CleanEnergy #SolarEnergy #EnvironmentalJustice #GreenhouseGasReduction 

Democratic party platform addresses climate crisis, lowering energy costs, and securing energy independence The platform was released as delegates from 50 states and U.S. territories converge on Chicago for the start of the 2024 Democratic National Convention. As the Democratic National Convention comes to order at Chicago’s United Center, the party released its ’24 Democratic Party Platform. One of that document’s nine chapters, titled Tackling the Climate Crisis, Lowering Energy Costs, & Securing Energy Independence, lays out the party’s vision for dealing with climate change and its approach for addressing the nation’s energy future. This story can be read in its entirety (no paywall) on the Wolters Kluwer Vital Law site at https://lnkd.in/gMaupCui. As reported by Brad Rosen. #DNC #DemocraticPartyPlatform #ClimateCrisis #CleanEnergyTranistion #UnitedCenter #Chicago

Scholars argue SEC climate rule does not raise First Amendment concerns The brief argues that the climate disclosure rule does not violate the First Amendment and should be evaluated under a deferential standard. A group of First Amendment Legal Scholars supports the SEC's position in the court challenge against its climate rules. The amicus brief, filed by the Knight First Amendment Institute at Columbia University, argues that, as a requirement seeking to inform and protect investors, the climate disclosure rule does not raise First Amendment concerns. At most, the rule should be evaluated under a lenient standard, which it would satisfy because it is not an undue burden on speech (Brief for First Amendment Legal Scholars as Amici Curiae Supporting Respondent, State of Iowa v. SEC, No. 24-1522 (8th Cir. Aug. 15, 2024)). This story can be read in its entirety on the Wolters Kluwer Vital Law site at https://lnkd.in/gUcsD-EM. As reported by Rodney Tonkovic. #SEC #ClimateDisclosureRule #FirstAmendment #InvestorProtection #ProtectedSpeech #LegalScholars

Administration celebrates IRA’s second year and points to creation of 330 clean energy jobs and $265 billion in private sector sustainability investments   Two years ago, President Biden signed the Inflation Reduction Act with Vice President Harris casting the tie-breaking vote in Congress. On the law’s second anniversary, President Biden noted the IRA’s initial success, observing that the largest climate investment in history “is helping the U.S. meet its climate goals, strengthening energy security, creating good-paying jobs, and reducing energy and health care costs for families across the nation.” Additionally, the president indicated that the law has created more than 330,000 clean energy jobs and unleashed $265 billion in clean energy and manufacturing investments from the private sector in the last two years. This story can be read in its entirety (no paywall) on the Wolters Kluwer Vital Law site (no paywall) at https://lnkd.in/gYFBXNs4. As reported by Brad Rosen. #IRA #CleanEnergyJobs #SustainabiltyInvestments #EnergySecurity 

IRA leading to significant clean energy investments and job creation, says climate advocacy group In the two years since the passage of the Inflation Reduction Act, the Biden Administration’s climate law has led to dramatic economic progress throughout the U.S. according to a new report issued by Climate Power, a nonprofit climate advocacy group. The report, titled Two Years of the Biden-Harris Clean Energy Boom found that the IRA has resulted in the announcement or launch of 646 new clean energy projects, which has created 334,565 new jobs and has driven $372 billion in new investments across 47 states and Puerto Rico. This story can be read in its entirety (no paywall) on the Wolters Kluwer Vital Law site at https://lnkd.in/g6W3KSS7. As reported by Brad Rosen. #IRA #Sustainability #CleanEnergyBoom #CleanEnergyJobs #ClimatePower

Complaint alleges greenwashing and employment retaliation by RELX An employee-shareholder alleges that he reported greenwashing concerns and experienced retaliation as a result. A new class action complaint alleges that publishing giant RELX violated employment, securities, and disabilities laws by wrongfully terminating an employee-shareholder for speaking out against greenwashing practices. The plaintiff contends that RELX and subsidiaries retaliated against him for speaking to the media about company activities that contradicted investor disclosures related to sustainability, among other actions (Lyall v. Elsevier, Inc., No. 1:24-cv-12022-PBS (D. Mass. Aug. 6, 2024)). This story can be read in its entirety (no paywall) on the Wolters Kluwer Vital Law site at https://lnkd.in/gVAinURv. As reported by Lene Powell. #Greenwashing #WrongfulTermination  #NetZeroPledge #SustainabilityDevelopmentGoals