Biden Administration Proposals: Sustainable Fuels, Greenhouse Gas Reductions in the Aviation Industry
U.S. President Joe Biden unveiled an initiative to promote the production and use of sustainable fuel in the aviation industry on Thursday, September 9. This initiative includes a goal to cut emissions in the aviation sector by 20% by 2030 and is part of the Administration’s goal to reach net-zero emissions by 2050. (more…)
EPA Publishes Landmark Study on the Effect of Climate Change on Socially Vulnerable Populations
On September 2, 2021, the U.S. Environmental Protection Agency (EPA or the Agency) released a 100-page report, entitled “Climate Change and Social Vulnerability in the United States,” that analyzes the impact of projected climate change on four population groups within the United States. This report represents the Agency’s latest effort to further the Biden administration’s agenda to advance environmental justice and address the effects of climate change on vulnerable populations, as outlined in Executive Order 14008 on Tackling the Climate Crisis at Home and Abroad. (more…)
Half of World’s Assets under Net Zero Asset Management
On Tuesday, July 6, 2021, 41 fund management firms announced their joining of the Net Zero Asset Managers initiative, an initiative by asset management firms to lower the carbon footprint of their clients’ portfolios and develop net-zero investment products.
SEC Climate Disclosure Bill Clears U.S. House Committee Vote
The U.S. House of Representatives Financial Services Committee advanced another piece of legislation related to disclosures of environmental, social, and corporate governance (ESG) metrics on Wednesday, May 12, 2021. Introduced by Rep. Sean Casten, D-Ill., HR 2570, the Climate Risk Disclosure Act, cleared the committee with the full support of the majority members in a vote of 28 to 24. (more…)
U.S. Supreme Court Provides Procedural Victory to Defendants Seeking to Keep Climate Change Nuisance Litigation in Federal Court
On May 24, 2021, the U.S. Supreme Court vacated and remanded First, Ninth, and Tenth Circuit rulings that sent climate change litigation to state courts (Order List: 593 U.S. – May 24, 2021). The Supreme Court’s orders come fresh off its May 17, 2021, decision in Mayor and City Council of Baltimore v. BP P.L.C., et al., in which the Supreme Court addressed appellate court review of a district court’s remand orders.
President Biden Signs Sweeping Executive Order on “Climate-Related Financial Risk”
On May 20, 2021, U.S. President Joe Biden issued an executive order (EO) on “Climate-Related Financial Risk,” which established a comprehensive policy to advance disclosure and mitigation of climate-related financial risk in an effort to achieve the U.S. goal of net zero emissions by 2050.
U.S. Environmental Protection Agency Announces Environmental Justice and Climate Action Initiatives
On April 23, the Administrator of the U.S. Environmental Protection Agency (EPA), Michael Regan, announced three new agency initiatives to support “community-driven solutions” for environmental justice and climate change in North America and across the world. The announcement came in conjunction with President Joe Biden’s Leaders Summit on Climate where the President pledged to cut nationwide net greenhouse gas emissions at least 50% to 52% by 2030 in comparison to 2005 levels. (more…)
