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In a landmark judgment handed down on 20 June 2024, R (Finch) v Surrey County Council and others [2024] UKSC 20, the Supreme Court of the United Kingdom has ruled that “Scope 3” greenhouse gas (GHG) emissions resulting from the eventual use of hydrocarbons produced from a proposed oil development should have been assessed in an environmental impact assessment (EIA) process carried out by a local authority.

V&E Energy Update

June 24, 2024
Insight
Insight

In a significant legal maneuver with potentially far-reaching implications, California Attorney General Rob Bonta filed an amended complaint on June 10, 2024, to California’s high-profile lawsuit targeting five of the world’s largest oil companies: BP, Chevron, Exxon Mobil, Phillips 66, Shell, as well as the American Petroleum Institute (“API”).

June 21, 2024
Insight
Insight

On May 1, 2024, the Council on Environmental Quality (“CEQ”) published the final version of Phase 2 of its National Environmental Policy Act (“NEPA”) rulemaking (“Phase 2 Rule”).

V&E Environmental Update

May 30, 2024
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Insight

Consumer packaged goods companies know that sustainability sells. And in their efforts to market their products as sustainable, they’ve long contended with allegations of greenwashing—the practice of claiming their products are friendlier to the environment than they actually are.

Published in Oilman Magazine

May 8, 2024
Insight
Insight

After much anticipation, on March 6, 2024, the Securities and Exchange Commission (“SEC” or the “Commission”) released its Final Rule—The Enhancement and Standardization of Climate-Related Disclosures for Investors—mandating climate-related disclosures by public companies.

March 28, 2024
Event Recap
Event Recap
Join a discussion with Vinson & Elkins, EY, Chubb and Longacre on an overview of the SEC’s final rule on climate disclosures adopted March 6th, how to prepare for implementation, and more.
March 19, 2024
Video
Insight
Insight

Following a nearly two-year wait, the Securities and Exchange Commission (“SEC” or “Commission”) released its Final RuleThe Enhancement and Standardization of Climate-Related Disclosures for Investors—on March 6, 2024.

V&E SEC Update | Originally Published March 7, 2024

March 15, 2024
Insight
Insight

On January 30, 2024, the U.S. Chamber of Commerce and five co-plaintiffs representing a coalition of business groups filed a lawsuit against the state of California seeking to block the state’s new landmark climate disclosure laws.

V&E SEC Update

February 1, 2024
Insight
Insight

The California Air Resources Board (“CARB”) reviews the state’s Low Carbon Fuel Standard (“LCFS”) program every five years as part of the broader scoping plan required under the California Global Warming Solutions Act.

V&E Environmental Update

January 12, 2024
Insight
Insight

The 2023 United Nations Climate Change Conference (“COP28”) reached a significant development in international climate policy, ending with the “first Global Stocktake” calling for a “transition away from fossil fuels in energy systems.”

January 5, 2024
Insight
Insight

The 28th Conference of the Parties (or “COP28”) to the UN Framework Convention on Climate Change (“UNFCCC”) at Expo City in Dubai has ended with an agreement described by COP28 president Dr Sultan Ahmed Al Jaber as “historic” and hailed by UNFCCC Executive Secretary Simon Stiell as “the beginning of the end” for fossil fuels.

December 19, 2023
Insight
Insight

On November 17, 2023, the Department of the Treasury (“Treasury”) and the Internal Revenue Service (the “Service”) issued proposed regulations [REG-132569-17] regarding the definition of “energy property” and related rules applicable to the energy credit (the “Proposed Regulations”) available under section 48 of the Internal Revenue Code of 1986, as amended (the “Code”).

November 21, 2023