Climate change is no longer solely the concern of scientists. Governments, businesses, and individuals are making a concerted effort to change their patterns to protect the environment. Especially as economies around the world rebuild from the COVID-19 pandemic, many private and public entities are following the example set by the United Nations to take climate-positive actions by creating green jobs, encouraging green investments, and making environmental, social, and governance (ESG) and corporate sustainability central parts of their operations.
Navigating evolving incentives and global requirements require a watchful eye to keep up with all the developments. The ESG, corporate sustainability, and climate change teams at Morgan Lewis do just that on a global scale.
Many organizations have longstanding sustainability initiatives for reducing waste through efforts such as recycling or reductions in printing. However, organizations are now also looking to their use of technology to help improve the sustainability of their operations.
The Federal Energy Regulatory Commission recently issued a final rule, Order No. 880, revising its hydropower project inspection and safety regulations. The updates revise part 12 of FERC’s regulations and conclude an approximately year and a half of rulemaking in Docket No. RM20-9.
The US Senate and House of Representatives have both passed HR 6256, the bicameral, bipartisan Uyghur Forced Labor Prevention Act, with the Senate approving the measure by unanimous consent on December 16. The White House has indicated that President Joseph Biden will sign the legislation into law. At that time, parties seeking to import goods into the United States will have 180 days to ensure that their supply chains are not exposed to China’s Xinjiang Uyghur Autonomous Region or, if they are, that the importer can be issued an exception based on yet-to-be-written due diligence, supply chain tracing, and supply chain management provisions.
Empowered, produced by our energy lawyers, covers important trends and developments in the power sector (conventional, nuclear, renewable, including wind and solar, storage, and transmission) and the oil and gas sector (upstream, midstream, and liquefied natural gas, refining, and petrochemicals).
Partners Lance Dial and Celia Soehner write in Reuters that as more investors seek strategies to further their environmental, social, and governance (ESG) goals, demand has grown for asset management firms to think critically about how they address ESG issues within operations and investment product offerings.
Asset managers face a long and growing list of questions, demands, and expectations from investors, financial regulators, and other stakeholders about their approach to sustainable investing. A new report from Morgan Lewis and BlueMark shows that there are several areas of alignment between financial regulations and voluntary standards, which provide a basis for how asset managers should evaluate and refine their sustainable investing practices.
The US Department of Transportation’s Federal Highway Administration (FHWA) recently issued a notice seeking public comment on two new electric vehicle (EV) programs that will receive funding under the Infrastructure Investment and Jobs Act (IIJA), which was signed into law by President Biden on November 15, 2021.
In Energy Central, partner Daniel Skees and associate Arjun Ramadevanahalli write that the US Department of Energy’s notice of Request for Information seeking public input on energy supply-chain issues and related technologies will be significant to the nation’s efforts at meeting emissions goals—including the licensing and deployment of advanced nuclear reactors.
Partners Lance Dial and Julie Stapel spoke to InvestmentNews about ESG investing trends in 2022.
Partner Carl Valenstein and associate Jonathan Wilcon authored an article for Law360 about the Jones Act compliance strategies for offshore wind projects.
In Power magazine, partner Levi McAllister writes about how the Infrastructure Investment and Jobs Act could impact the future of electric cars—including the act’s $7.5 billion funding earmarked for building a national network for electric vehicle (EV) charging stations and the establishment of a 25-member EV working group.
Morgan Lewis has been named among the top firms in North America for Innovation in New Solutions by Financial Times. The annual North America Innovative Lawyers special report cited the firm’s expansion of its COVID-19 task force model to provide guidance on the Biden-Harris administration, corporate sustainability, climate change and ESG, and racial justice.
Partner Julie Stapel spoke with Pensions & Investments about the US Department of Labor’s (DOL’s) recent proposal on environmental, social, and governance (ESG) investing, which would permit retirement plan fiduciaries to consider climate change and other ESG factors when selecting investments and exercising shareholder rights.
Partner Julie Stapel spoke with Plan Advisor about the recently proposed rule from the US Department of Labor that would remove barriers to retirement plan fiduciaries’ ability to consider climate change and other environmental, social, and governance (ESG) factors when selecting investments and exercise shareholder rights.
Partners Elizabeth Goldberg, Julie Stapel, Lance Dial, Michael Richman, and Marla Kreindler, along with law clerk Rachel Mann, authored an article for Law360 on the US Department of Labor’s recent proposed rulemaking on how retirement plans can make investment decisions that consider environmental, social, and governance (ESG) factors.
Partner Stephanie Feingold told Bloomberg Law that while it could be years before the Environmental Protection Agency publishes final rules of what constitutes safe PFAS—or “forever chemical”—levels, if an eventual regulation includes manufactured goods, it will apply to “about every manufacturing industry.”