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The Environmental Protection Agency (EPA) has finalized a host of new obligations for upstream and midstream oil and gas owners and operators.
Last week, the Governor of New Mexico signed House Bill 41 (“HB 41”) into law, establishing the Clean Fuel Standard (“CFS”), which, similar to programs in California, Oregon, and Washington, focuses on reducing the carbon intensity of transportation fuels.
ExxonMobil (“Exxon”) filed a complaint in the U.S. District Court for the Northern District of Texas on Sunday, January 21, 2024, seeking a declaratory judgment to exclude a shareholder proposal from its proxy statement pursuant to Rule 14a-8 of the Securities Exchange Act of 1934 (“Rule 14a-8”) and not present the proposal for a vote at its 2024 annual shareholder meeting.
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.
On November 16, 2023, the Department of Energy (“DOE”) issued a notice of proposed rulemaking (“NOPR”) that would amend DOE’s regulations implementing the National Environmental Policy Act (“NEPA”) to add a categorical exclusion for certain energy storage systems and revise existing categorical exclusions for solar photovoltaic (“PV”) facilities and for upgrades and rebuilds of transmission lines on previously disturbed or developed land.
Welcome to Vinson & Elkins’ Securities and ESG Updates. Our aim is to provide insights into notable developments in securities reporting and the environmental, social and governance space over the quarter.
As public companies anticipate the Securities and Exchange Commission’s (“SEC”) final climate disclosure rules, which are expected to be released sometime fourth quarter of 2023, California has beaten the federal government to the punch.
Carbon capture and sequestration (“CCS”) projects represent a critical pillar in many companies’ strategies to navigate the low-carbon transition.
In a concerted effort to meet the Biden administration’s aggressive carbon-reduction goals, the Department of Energy (“DOE”) unveiled a pre-publication copy of a forthcoming proposed rule on August 10, 2023, aimed at fast-tracking the development of high-voltage electric transmission facilities.
Federal agencies are required to conduct assessments under the National Environmental Policy Act (“NEPA”) before taking “major federal actions,” such as granting permits needed for infrastructure projects and for certain other necessary approvals for both traditional and renewable energy projects.
Welcome to Vinson & Elkins’ Securities and ESG Updates.