On March 8, 2022, the Science Based Targets initiative (“SBTi”) announced that it would “no longer accept commitments or validate targets from fossil fuel companies” until it completes development of sector-specific criteria for such targets.
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 October 15, 2021, the FAR Council published a Federal Register Notice announcing the opening of a public comment period on potential amendments to the Federal Acquisition Regulation to address climate-related financial risks.