A new lawsuit filed by several business interest groups seeks to overturn two recent California laws relating to emissions disclosures (SB253) and climate-related financial risk disclosures (SB261), which would require thousands of covered companies to begin making disclosures as early as 2026. This Legal Update addresses the main arguments of the lawsuit, the initial reaction

California recently enacted two laws—the Offshore Wind Expediting Act (SB 286) and the California Offshore Wind Advancement Act (AB 3)—to accelerate the development of offshore wind energy that could have significant implications for the industry and its stakeholders. The new laws aim to streamline the offshore wind permitting process, promote collaboration among state agencies

A new California ”anti-greenwashing” law comes into effect on January 1, 2024.  The law – called the Voluntary Carbon Market Disclosures Act (AB 1305) (VCMDA) – casts a wide net over companies participating in the California voluntary carbon market or that make certain “green” claims within California.  The VCMDA applies regardless of revenue thresholds if

Two new bills have been passed in California as part of a “Climate Accountability Package” that require U.S.-based companies “doing business”[1] in California to make disclosures about their emissions and climate-related financial risks. These are (a) the Climate Corporate Data Accountability Act (California Senate Bill 253 (SB-253)) and (b) the Climate-Related Financial Risk Act (California Senate Bill 261 (SB-261)). The laws remain subject to approval by the California Governor (who has until October 14, 2023, to sign or veto them).

To assist companies in preparing for these new climate-related disclosure requirements, we have provided a summary of some of the key requirements below.Continue Reading New “Climate Reporting” Laws in California – Emissions and Climate-Related Financial Risk Disclosure Required

Interest in ESG investing continues to attract attention globally as policymakers and regulators around the world implement policies and regulations to direct or guide behavior and protect the interests of a wide range of stakeholders. Against this backdrop, we observe a rising challenge to so-called “woke capitalism”, particularly with the recent wave of anti-ESG sentiment