Last week, the U.S. Department of the Treasury (Treasury) and Internal Revenue Service (IRS) released a notice of proposed rulemaking (NPRM) that modifies the regulations applicable to the Energy Credit under Section 48 of the Internal Revenue Code (Code). The NPRM also withdraws and repurposes portions of an August proposal on the rules governing the
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Inside Energy & Environment
Developments in law and policy of energy, commodities and environment
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Calculating and Reporting Greenhouse Gas Emissions: A Primer on the GHG Protocol
Laws and regulations that require companies, both private and public, to disclose their greenhouse gas (GHG) emissions continue to expand in the European Union and in the United States. Under the EU Corporate Sustainability Reporting Directive (CSRD), beginning in 2025, EU-based public companies and large EU-based private companies will be required to report all material…
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USDA Releases Carbon Markets Assessment, Setting Stage for Technical Assistance Program
As directed by the Consolidated Appropriations Act of 2023 (CAA) that was signed into law by President Biden on December 29, 2022, on October 23, the U.S. Department of Agriculture (USDA) released the report on its general assessment of the state of the U.S. compliance and voluntary carbon markets for the agricultural and forestry sectors.
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Key Takeaways from EPA’s EPCRA PFAS Rule
On October 20, 2023, EPA released a final rule under the Emergency Planning and Community Right to Know Act (“EPCRA”) relating to per- and polyfluoroalkyl substances (“PFAS”). The Rule makes important revisions to EPA’s Toxic Release Inventory (“TRI”) program relating to 189 specified PFAS. …
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Commerce Final Rule Heightens Uncertainty as to How Treasury Will Interpret “Foreign Entity of Concern” for EV Credits Under Section 30D of the Inflation Reduction Act
On September 22, the Commerce Department published a final rule implementing the national security-related restrictions and obligations on recipients of incentive funds under the CHIPS and Science Act of 2022 (the “CHIPS Act”). The final rule clarifies in some respects, and substantially expands in other respects, the definition of “foreign entity of concern” that appeared…
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Law Enacted by California Legislature Would Require Companies to Disclose Key Details About Voluntary Carbon Offsets and Claims Made in Reliance Upon Them
On September 13, 2023, the California Legislature passed Assembly Bill 1305 (AB 1305), which imposes wide-ranging disclosure requirements on (1) entities that market or sell voluntary carbon offsets and (2) entities that purchase and rely on these offsets to advertise their climate goals. The bill has been enrolled and is currently on Governor Newsom’s desk.
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Key Takeaways from EPA’s PFAS Reporting Rule
On September 28, 2023, EPA released a final rule under the Toxic Substances Control Act (“TCSA”) mandating reporting relating to past manufacturing of per- and polyfluoroalkyl substances (“PFAS”). Below are key takeaways companies that may be subject to these reporting requirements should keep in mind.
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California Legislature Passes Landmark Climate Disclosure Laws: Spotlight on SB 253
Last week, the California Legislature passed two bills comprising the core of a landmark “Climate Accountability Package.” Together, the two bills will impose extensive new climate-related disclosure obligations on thousands of U.S. public and private companies with operations in California. Senate Bill 253 (SB 253) would require companies with greater than $1 billion in annual…
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California Legislature Passes Landmark Climate Disclosure Laws: Spotlight on SB 261
Last week, the California Legislature passed two bills as part of the state’s landmark “Climate Accountability Package.” If signed by Governor Newsom as anticipated, the two laws—Senate Bill 253 (SB 253) and Senate Bill 261 (SB 261)—will usher in significant climate-related disclosure requirements for thousands of U.S. public and private companies that do business in…
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Q&A: Navigating Climate and ESG Amid Regulatory Uncertainty
By Jayni Hein & Daniel Feldman
The following interview originally appeared in the National Law Journal.
What you need to know
- One of the significant issues many of their multinational clients have is the growing divide between how they operate and what’s expected of them in the U.S. versus Europe.
- At the same time the legal field has experienced this anti-ESG
…