Climate Change Timeline
1985 – 2021 – Route to COP26
Eye on ESG Blog
The Eye on ESG Blog is designed to provide practical guidance to global businesses and clients amid the important and growing impact of ESG issues on their institutions and businesses, as well as the latest updates on new ESG-related developments.
President Biden committed the United States to a 50-52 percent reduction in greenhouse gas (GHG) “pollution” from 2005 levels by 2030.
On March 29, 2021, the Biden administration announced a “set of bold actions that will catalyze offshore wind energy, strengthen the domestic supply chain, and create good-paying, union jobs,” with a target to deploy 30 GW of offshore wind by 2030 to support 77,000 jobs, power 10 million homes and cut 78 million metric tons in carbon emissions.
The energy industry continues to evolve as sectors converge and as demand, supply and consumer preferences change. The global economy is shifting to lower-carbon sources of energy, coinciding with (or resulting from) a renewed focus on environmental, social and governance (ESG) issues.
In a new article, “A Time to Shine — ESG Drives Gender Equity in Leadership”, we discuss the intersection of gender, diversity, leadership and environmental, social and governance (ESG) concepts, and how these concepts can combine to drive corporate performance to new heights.
Déjà Vu All Over Again: US FERC Announces New Proceeding to Examine Electric Reliability in the Face of Climate Change
On February 22, 2021, the US Federal Energy Regulatory Commission (FERC) announced its intention to open a new proceeding to examine the threat that climate change and extreme weather events pose to electric reliability.
On February 24, 2021, Acting Chair of the US Securities and Exchange Commission (SEC), Allison Herren Lee, announced that the agency will be focusing on public companies’ climate change disclosures as part of an effort to both assess current compliance with federal securities laws and develop new disclosure requirements for climate change.
The Pension Schemes Act 2021 sets out a framework for new climate risk-related governance and reporting requirements for trustees of larger schemes. The detailed requirements will be set out in regulations and statutory guidance, and the government is currently consulting on draft versions of the regulations and guidance.
New York Regulator Issues Proposed Guidance for Insurers on Managing Financial Risks from Climate Change
On March 25, 2021, the New York Department of Financial Services issued for public comment “Proposed Guidance for New York Domestic Insurers on Managing the Financial Risks of Climate Change”. Comments must be submitted by 11:59 p.m. EDT on Wednesday, June 23, 2021.
Join Mayer Brown on April 6, 2021, for our Carbon Capture Use and Sequestration Boot Camp – from Feasibility to Execution.
Luiz Gustavo Bezerra discusses carbon emissions in Brazil.
Mark R. Uhrynuk discusses sustainability and related regulatory developments across Asia.
Christina Thomas and Jonathan Becker discuss the recent changes that the Biden Administration has implemented, as well as the changes on the horizon, in relation to climate change.
Luiz Gustavo Bezerra discusses corporate strategies to achieve Net Zero (in Portuguese).
Mayer Brown Counsel Beth Brown provides background on the Pension Schemes Act 2021 and outlines the regulations in the consultation paper, as well as considerations for trustees seeking to understand and prepare for these future requirements.