On Thursday, March 30, 2023, the U.S. House of Representatives passed HR 1, the Lower Energy Costs Act. The bill — the GOP’s energy policy and permitting bill — passed by a vote of 225 to 204, with four Democrats joining Republicans in voting to pass the bill and one Republican legislator voting against it.
The Supreme Court’s recent decision in West Virginia v. EPA clips the EPA’s ability to address climate change and may fundamentally alter the administrative authority of other federal agencies to tackle big problems.
As state and local governments find ways to fill the void, shareholders are demanding a response from Corporate America. How seismic is the ruling? Will it doom our efforts to address climate change? And what impact will the enactment of the Inflation Reduction Act have on the ruling? Join The Sidley Podcast host and Sidley partner, Sam Gandhi, as he speaks with two of the firm’s thought leaders on these subjects — Justin Savage and Simone Jones.
Momentum on climate action is unstoppable. Investors, businesses, and the public are demanding policymakers get serious about reducing emissions. Legislation from the U.S. and EU offers challenges and incentives for businesses worldwide. How will these proposed laws impact companies, and importantly, can they deliver on the promise of making tangible progress in the fight against climate change? (more…)
This week, the U.S. Senate advanced a much-anticipated bipartisan infrastructure bill. After months of negotiations and a failed procedural vote last week, the White House and a bipartisan group of Senators unveiled a bipartisan infrastructure deal to provide $550 billion in new spending on July 28. That same day, in a 67-32 vote, 17 Republicans joined all 50 Democrats to invoke cloture on the motion to proceed to the bill. Today, the Senate passed another bipartisan procedural vote to officially consider the bill on the Senate floor. While the Senate continues to work on finalizing the legislative text, the following topline funding provisions were released:
Federal and state lawmakers continue to advance legislative efforts to address per- and polyfluoroalkyl substances (PFAS). PFAS have been used in a variety of consumer products and industrial processes and are often recognized for use in nonstick cookware, waterproof apparel, and fire-fighting foam. The U.S. House of Representatives voted this week to pass legislation that would further regulate PFAS. In a bipartisan vote of 241 to 183, lawmakers advanced HR 2467, the PFAS Action Act of 2021, which would impose federal requirements to address PFAS under many environmental statutes, including the Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA), the Clean Water Act (CWA), the Clean Air Act (CAA), the Safe Drinking Water Act, and the Toxic Substances Control Act.
On June 25, 2021, the U.S. House of Representatives voted to rescind a Trump-era methane rule using its Congressional Review Act (CRA) authority, which includes special procedures that allow Congress and the President to rescind certain rules promulgated during a prior administration, within defined time limits. The Senate passed the CRA resolution disapproving the rule on April 28, 2021. The measure garnered bipartisan support in both chambers. Congress presented the resolution to President Biden, who signed it on June 30, 2021.
On June 11, 2021, U.S. Senator Cory Booker (D-NJ) and Representative A. Donald McEachin (D-VA) announced the reintroduction of the Environmental Justice Pollution Cleanup Act of 2021 – a bill first introduced in 2020, which would provide for significant investment in environmental justice communities to address the health and environmental effects of pollution. This marks the latest of a series of proposed legislation addressing environmental justice. In March 2021, we reported on the American Rescue Plan Act of 2021, which allocated $100 million in funding to the U.S. Environmental Protection Agency, for programs, including the retrofitting or replacement of diesel engines or equipment, cleanup and redevelopment of brownfields sites, and technical assistance for small community water systems.
The U.S. House of Representatives Financial Services Committee advanced another piece of legislation related to disclosures of environmental, social, and corporate governance (ESG) metrics on Wednesday, May 12, 2021. Introduced by Rep. Sean Casten, D-Ill., HR 2570, the Climate Risk Disclosure Act, cleared the committee with the full support of the majority members in a vote of 28 to 24. (more…)
Earlier in May, the Texas Legislature passed a bill (SB 13) that would prevent Texas from investing in environmental, social, and governance (ESG) financial products that boycott Texas energy companies. If signed into law by Republican Gov. Greg Abbott, SB 13 would require Texas’ public pension funds to “sell, redeem, divest, or withdraw all publicly traded securities of [any] financial company …” that “boycott[s] energy companies.” (more…)
Last week the U.S. House of Representatives advanced the first piece of legislation of the year regarding environmental, social, and governance (ESG). On Wednesday, April 21, the House Financial Services Committee passed H.R. 1187, the ESG Disclosure Simplification Act of 2021, by a party-line vote of 28-22.