In the first months of 2024, legislators in four states—Maryland, Massachusetts, New York, and Vermont—have pushed for legislation that would collectively require large fossil fuel producers and refiners to pay for hundreds of billions of dollars of state-level climate adaptation infrastructure. E&E News reports that similar legislation may soon be […]
Nearly two years and 24,000 public comments after its proposal, the Securities and Exchange Commission (SEC) released its final climate disclosure rule last week, formally titled “The Enhancement and Standardization of Climate-Related Disclosures for Investors.” The rule expands public companies’ disclosure requirements to include certain greenhouse gas (GHG) emissions data […]
Yesterday, March 5, 2024, the U.S. Department of the Treasury (Treasury) and the Internal Revenue Service (IRS) released final regulations for their elective pay program, which allows many non-taxpayers, including local governments and their agencies and instrumentalities, to recoup the value of certain climate and clean energy tax credits as […]
Building codes have a major influence on how local governments respond to climate change. They prescribe enforceable requirements for the materials that buildings are made of, for how living and working spaces are designed, and critically, for what kinds of environmental possibilities new buildings must be prepared to accommodate. For […]
Litigation against major corporate greenhouse gas (GHG) emitters has proven extremely tough. Even as successful cases against governments have blossomed, private suits face significant barriers. A civil law breakthrough came in 2021, with the ruling of a Dutch court against Shell. In Smith v Fonterra, decided by New Zealand’s Supreme […]
The Fifth National Climate Assessment recently concluded that, to meet national and international climate targets, United States net greenhouse gas emissions will need to decline by over 6% per year and reach net zero by roughly 2050. In order to achieve this target, the United States will need to greatly […]
On November 16, 2023, the Department of Energy (DOE) published a proposed rule to expedite the environmental review process for certain renewable energy infrastructure projects through the use of categorical exclusions. DOE’s proposal would apply to: (1) installing, operating, modifying, or decommissioning solar photovoltaic (PV) systems on buildings or other […]
This piece previously appeared in EDF’s Climate 411 Blog. Disasters that are fueled by climate change, like fires, floods, and hurricanes, increasingly pose risks to the U.S. financial system, including the derivatives market. The U.S. Commodity Futures Trading Commission (CFTC) regulates the derivatives market and is now considering updates to […]