23 Jul, 2024 SEC Commissioner Peirce Critiques ESG Reporting Frameworks By Jacob H. Hupart SEC Commissioner Peirce recently delivered a speech where she extensively criticized the recent emphasis on ESG among businesses, in...
23 Jul, 2024 Puerto Rico Launches Climate Tort Lawsuit Against Fossil Fuel Companies By Jacob H. Hupart Puerto Rico has become the latest governmental entity to launch a lawsuit against the major fossil fuel companies concerning tort claims...
23 Jul, 2024 The Demise of the Chevron Doctrine Begins to Impact ESG Jurisprudence By Jacob H. Hupart Last week, the Fifth Circuit Court of Appeals vacated and remanded the appeal from a lower court's decision upholding the Biden...
07 Jun, 2024 Congressional Democrats Urge SEC Action on Climate Disclosures By Jacob H. Hupart On June 4, 2024, a number of Congressional Democrats (10 Senators; 28 Congressmen) sent a letter to Chairman Gensler of the Securities &...
06 Jun, 2024 Legal Challenge to New York City's Local Law 97 Reinstated By Appellate Court By Jacob H. Hupart About five years ago, the New York City Council enacted Local Law 97, which imposes strict restrictions on greenhouse gas emissions for...
06 Jun, 2024 Another Major European Bank Withdraws From Fossil Fuel Financing By Jacob H. Hupart Credit Agricole SA, the second-largest bank in France, will no longer participate in fossil fuel financing. Specifically, a spokesperson...
04 Jun, 2024 Environmental Groups Drop Challenge to SEC Climate Disclosure Rule By Jacob H. Hupart When the SEC announced its mandatory climate disclosure rule on March 6, 2024, this regulation was immediately challenged by parties on...
30 May, 2024 European Central Bank to Impose Fines on Banks for Failure to Address Climate Change By Jacob H. Hupart It has been reported that the European Central Bank will be imposing fines on as many as four lenders due to “not meeting deadlines set...
28 May, 2024 Treasury Department and Other Federal Agencies Issue Statement of Principles Concerning Carbon Credits By Jacob H. Hupart Today, the Treasury Department and other federal agencies (including the Agriculture Department and Energy Department) issued a joint...
28 May, 2024 Republican AGs Seek Intervention of U.S. Supreme Court to Block Climate Change Lawsuits filed by Blue States Against Fossil Fuel Industry By Jacob H. Hupart A coalition of Republican state attorneys-general representing nineteen states (Alabama, Alaska, Florida, Georgia, Idaho, Iowa, Kansas,...
25 May, 2024 Federal Judge Certifies Class Objecting to ESG Investments by Retirement Fund By Jacob H. Hupart On May 22, 2024, Judge O'Connor (N.D. Tex.) ordered that the plaintiffs claiming that investment managers breached their fiduciary duty...
22 May, 2024 House Democrats Initiate Probe of Anti-ESG Investment Guidelines Issued by Conservative States By Jacob H. Hupart On Monday, May 21, 2024, Congressman Nadler (D-NY) and Congressman Correa (D-CA), the ranking Democratic members on the House Judiciary...
21 May, 2024 UK Announces Delay to Mandatory Climate Disclosures (Until After Next General Election) By Jacob H. Hupart The UK government, having originally announced that it would decide whether to impose mandatory climate disclosures on companies by July...
21 May, 2024 Michigan AG Announces Intent to Pursue Climate Change Tort Litigation Against the Fossil Fuel Industry By Jacob H. Hupart Last week, the Attorney General of Michigan announced that her office “will begin seeking proposals from attorneys and law firms . . . to...
17 May, 2024 Florida Adopts Laws Erecting Roadblocks to the Climate Transition By Jacob H. Hupart This week, Governor DeSantis of Florida signed into law certain legislation that expressly seeks to minimize ongoing efforts to combat...
17 May, 2024 Major European Bank Withdraws From Fossil Fuel Financing By Jacob H. Hupart This week, “BNP Paribas SA, the European Union's biggest bank” stated that it “is no longer participating in conventional bond issuance...