Last week, a federal appeals court upheld Nasdaq’s board diversity rule potentially impacting the large numbers of businesses having initiatives to advance gender and racially diverse talent. Nasdaq Stock Market, LLC proposed a rule that would require companies listed on its stock exchange to have women and minority directors on their boards or explain why they do not. A three judge panel of the Fifth Circuit Court of Appeals explained the “fundamental purpose” of the Securities Exchange Act of 1934 is to enforce “a philosophy of full disclosure . . . in the securities industry.” Nasdaq is a p ..read more

On August 18, 2023, the United States government announced that solar panels, cells, and modules completed in Cambodia, Malaysia, Thailand, or Vietnam using components from China and exported to the U.S., are circumventing the more than decade old antidumping tariffs on solar panels from China.  To appreciate the scope of the issue, those countries account for nearly 80% of all U.S. solar panel supplies. After a more than 17 month investigation, the U.S. Department of Commerce made a final determination that certain Chinese manufacturers are “shipping their solar products through Cambodia ..read more

The Australian government has issued draft Environmental and Sustainability Guidance describing the obligations under Australian consumer law which businesses must comply with when making environmental and sustainability claims. The Guidance released on July 14, 2023, sets out what the Australian Competition & Consumer Commission considers to be good practice when making such claims, to help businesses provide clear, accurate, and trustworthy information to consumers about the environmental performance of their business. The Guidance is hugely instructive not only for companies that engage ..read more

As concerns about climate change intensify, businesses and individuals alike are seeking effective ways to set and meet the goals of net zero energy and greenhouse gas emissions to contribute to a sustainable planet. Two essential but fundamentally different tools that have gained prominence in recent years are Offsets and Renewable Energy Certificates (RECs). These mechanisms will play a crucial role in combating GHG emissions and fostering global environmental sustainability. In this blog post, we will explore the differences between Offsets and RECs including modestly attempting to harmoniz ..read more

The wind is blowing in Texas and the courts are making laws about the movement of air. With apologies to Bob Dylan given the recent $1.4 Million jury award for a trespass on wind rights this is more than just Blowin’ In The Wind. A jury in Texas has awarded damages in a first of its kind wind rights trespass suit. At this time when government actions, including by the courts, around climate change represent much of the opportunities in the years ahead, including the increasing emphasis on renewable energy, the wind is key. According to the pleadings, a wind rights lease was entered into in 201 ..read more

When it comes to combating climate change and reducing greenhouse gas emissions, the focus has primarily been on carbon dioxide emissions, however among increasing numbers of those expert in one or more of the natural or physical sciences, the case for prioritizing the reduction or elimination of methane emissions is gaining recognition due to its heightened global warming potential. In this blog post, we will explore why targeting methane emissions presents a more advantageous strategy for the United States in its quest to mitigate climate change. Methane’s Warming Potential:  Methane, a ..read more

The Supreme Court issued several decisions last week at the conclusion of its term, some split 6 – 3 along ideological lines, but it was a 9 – 0 unanimous decision, receiving little mass media attention that may impact the largest number of Americans when the Justices protected religious pluralism and expressly guarded against inequality through the First Amendment guaranteed right of “free exercise” of religion. We have often blogged about the existential crisis of inequality that today encompasses a broad range of social challenges for businesses but also offers opportunities for companies t ..read more

In today’s world, where environmental, social, and governance (ESG) concerns are gaining significant attention, companies are increasingly being scrutinized not only for their impact on the planet and society but also for their messaging. As a result, some organizations have adopted a strategy of “green hushing” to avoid backlash and negative publicity. While the concept of green hushing may seem counterintuitive at first glance, it can have significant positive implications when executed properly including responsibly. In this blog post, we will explore why companies seeking to avert backlash ..read more

In the face of concerns over global climate change, finding effective solutions to reduce greenhouse gas emissions has become a pressing priority. Alongside direct mitigation efforts, environmental offsets have emerged as a critical tool in the battle against climate change. The concept of offsets, although modernized and adapted, is not new and can be traced back to an unlikely origin, the indulgences issued by the church during medieval times. This blog post explores the importance of environmental offsets in a GHG emission reduction strategy, highlighting their historical roots and their si ..read more

A California federal district court has found as unconstitutional on its face California Assembly Bill No. 979 (AB 979), which requires publicly held corporations in California to have a certain number of directors from underrepresented racial, ethnic, and LGBTQ backgrounds. This case has been widely watched because as we blogged, in own our polling, when we asked about what ESG initiatives are most important to their own company, while 72% responded GHG emissions that was followed by 59% who replied advancing gender and racially diverse talent (.. no other ESG initiative polled over 50%). So ..read more