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As widely reported by the press, it appears that the Build Back Better Act is at an impasse following Senator Joe Manchin’s statements that he would not vote for the bill.  Our prior coverage can be found here.

On November 15, 2021, the Environmental Protection Agency (“EPA”) published a proposed rule that included three separate actions under the Clean Air Act that target new and existing air emission sources at oil and natural gas well sites, natural gas gathering and boosting compressor stations, natural gas processing plants, and transmission and storage facilities.

On December 8, 2021, President Biden signed Executive Order 14057, Catalyzing Clean Energy Industries and Jobs Through Federal Sustainability (“EO 14057”). Below we summarize EO 14057 and call out what matters for business, and what to watch for. EO 14057 makes clear that the federal government intends to use its purchasing power to achieve the overall goal of net-zero emissions by 2050.

On December 7, 2021, the U.S. Environmental Protection Agency (“EPA”) proposed the long-awaited and much anticipated renewable fuel targets for 2020, 2021, and 2022 under the federal Clean Air Act’s (“CAA”) Renewable Fuel Standard (“RFS”) (the “Proposed Rule”).

Early on December 11, 2021, the Senate Finance Committee released its version of the Build Back Better Act (the “Act”). While the Senate Finance Committee version of the Act largely replicates the clean energy proposals included in the version of the Act the House passed on November 19, 2021, it does include a few substantive revisions along with clean-up changes to the legislative text.

On 29 October 2021, the UK government introduced The Companies (Strategic Report) (Climate-related Financial Disclosure) Regulations 2021¹ (the “Draft Regulations”), which would, once in force, amend the Companies Act of 2006 and require mandatory climate-related financial disclosures by large UK registered companies and financial institutions.

Early on November 19, 2021, the House passed H.R. 5376, the Build Back Better Act (the “Act”) along partisan lines. Passage came after the Congressional Budget Office released projections on the overall net cost of the package.

Faced with opposition from within his own party, President Biden last week unveiled a new, pared down framework for his “Build Back Better” agenda.

In this featured interview, V&E Partner Margaret Peloso, whose practice is built on significant experience in climate change science, talks about how law firms can help clients set their strategies for continued business in a changing environment, especially ahead of forthcoming “ESG” regulations.

In June 2021, the United States (“U.S.”) became the chair of the Biofuture Platform Initiative, an initiative of the Clean Energy Ministerial (the “Biofuture Platform”) for a two-year term, taking over the chair position from Brazil, which led the formation of the Biofuture Platform in 2016.

On April 21, 2021, the European Commission adopted a proposal for the Corporate Sustainability Reporting Directive (“CSRD”).

Partners Maggie Peloso and Tom Wilson recently sat down to continue the “conVErsation” about the origins of the firm’s Environmental, Social and Governance (ESG) Taskforce.