By

Allen S. Braddock

20 May 2022

China Plans To Adopt ESG-Disclosure Framework Based on International Sustainability Standards Board Standards

In speaking at the recent Boao Asia Forum Annual Conference, Vice Chairman Fang Xinghai of the China Securities Regulatory Commission (CSRC) announced that the CSRC is preparing new reporting standards and would adopt the new disclosure rules prepared by the International Sustainability Standards Board (ISSB). (more…)

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19 May 2022

SEC Brings First Enforcement Action Over ESG Disclosures

In late April, the U.S. Securities and Exchange Commission (SEC) brought its first enforcement action over alleged false and misleading claims made in a mining company’s environmental, social, and governance (ESG) disclosures. The complaint relates to the 2019 collapse of the company’s dam that injured hundreds and released 12 million tons of mining waste into the environment. (more…)

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10 March 2022

U.S. Treasury’s Federal Insurance Office Eyes Climate Risk Factors in the Insurance Sector

In February 2022, the U.S. Department of the Treasury Federal Insurance Office (FIO) announced that it would be joining the Network of Central Banks and Supervisors for Greening the Financial System. FIO intends to address climate-related financial risks and their effects on the insurance sector. (more…)

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09 March 2022

Ninth Circuit Approves U.S. Fish and Wildlife Service’s Barred Owls vs. Spotted Owls Experiment

On March 4, 2022, the U.S. Court of Appeals for the Ninth Circuit ruled in favor of the U.S. Fish and Wildlife Service (FWS) in Friends of Animals v. U.S. Fish and Wildlife Service and FWS’ experimental plan that authorizes certain individuals to kill barred owls, a species of owls that has encroached on the northern spotted owls’ habitat. Primarily in the Pacific Northwest, the northern spotted owl has been listed as a threatened species under the Endangered Species Act (ESA) since June 26, 1990. 55 Fed. Reg. 26114. On December 15, 2020, FWS released its 12-month finding for the northern spotted owl that precluded reclassifying the species from threatened to endangered. (more…)

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14 December 2021

Biden Administration Issues Executive Order on Sustainable Procurement

On December 8, 2021, the Biden Administration issued an executive order seeking to leverage United States procurement power to promote investment in clean energy. The order sets out the following five goals: “100 percent carbon pollution-free electricity (CFE) by 2030, at least half of which will be locally supplied clean energy to meet 24/7 demand; 100 percent zero-emission vehicle (ZEV) acquisitions by 2035, including 100 percent zero-emission light-duty vehicle acquisitions by 2027; [n]et-zero emissions from federal procurement no later than 2050, including a Buy Clean policy to promote use of construction materials with lower embodied emissions; [a] net-zero emissions building portfolio by 2045, including a 50 percent emissions reduction by 2032; and [n]et-zero emissions from overall federal operations by 2050, including a 65 percent emissions reduction by 2030.” (more…)

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14 October 2021

Global Reporting Initiative Revises its Universal Standards on Sustainability Reporting

On October 5, 2021, the Global Reporting Initiative (GRI) revised its Universal Standards on sustainability reporting. GRI is one of several stakeholder-led organizations that publishes voluntary standards for sustainability reporting. Through its standards, GRI seeks to promote standardized environmental, social, and governance reporting by companies and industries to their stakeholders. (more…)

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12 October 2021

California to Ban PFAS in Certain Consumer and Children’s Products

On October 5, 2021, California Democratic Gov. Gavin Newsom signed A.B. 1200, which bans per- and polyfluoroalkyl substances (PFAS) in paper-based food packaging by January 1, 2023, while requiring cookware manufacturers to begin disclosing PFAS and other toxic chemicals used in their products by 2024. The bill also requires manufacturers to use “the least toxic alternative” when replacing PFAS in the food packaging. (more…)

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