Recent statements from domestic and international securities regulators suggest that development of consistent environmental disclosure standards may soon be forthcoming, with a nearer-term emphasis on sustainability goals and methodologies for
Continue Reading Domestic and International Securities Regulators Focus on Sustainability Standards
The Biden administration continues to make many major environmental policy actions aimed at climate change, enforcement, and several other issues. GT continues to track these changes in key areas on
Continue Reading TRANSITION THOUGHTS: How Will President Biden’s Elevation of Environmental Justice Within the EPA Affect Your Permitted Facility or Redevelopment Project?
Greenberg Traurig’s Bill Garner, Energy & Natural Resources Practice Co-Chair, and Environmental Practice Shareholders Erick Hernández and Bernadette Rappold are hosting a webinar on Wednesday, Jan. 26, 2021, to
Continue Reading WEBINAR: Post-Election Impact on U.S. and Mexico Energy and Environmental Matters
The incoming Biden Administration intends to take many major environmental policy actions aimed at climate change, enforcement, environmental justice, and several other issues, many of which entail reversing actions taken
Continue Reading TRANSITION THOUGHTS: The Presidential Transition, NEPA, and Project Review
On Nov. 20, the Office of the Comptroller of the Currency (OCC) proposed a regulation that would allow national banks and federal savings associations to refuse service to fossil fuel
Continue Reading OCC Proposes ‘Fair Access’ Rule – Potential Implications for ESG Analysis
In 2016, the incoming Trump Administration stated its intention to reduce substantially federal environmental regulation. The president issued executive orders requiring two rule repeals for each new rule and directing
Continue Reading Rolling Back Environmental Rollbacks in the New Administration
The “circular economy” is coming to Pennsylvania. And if recent polling data are correct, it cannot come a moment too soon—and Pennsylvania attorneys and advisers would be well-advised to become
Continue Reading Pennsylvania and the Circular Economy: Turning Waste Into Something New
On Feb. 19, 2020, the Internal Revenue Service released partial guidance on the implementation of section 45Q tax credits related to the capture and sequestration of carbon dioxide. The section 45Q tax credit was updated on Feb. 9, 2018, as part of the Bipartisan Budget Act (Pub. L. 115-123) to increase the amount of the tax credit per ton and to broaden the applicability to include “qualified carbon oxide.” The new IRS guidance is designed to assist in implementing the modified law.
The 2018 law removed the volume cap applicable to the tax credit, expanded the definition to include not just carbon dioxide but other carbon oxides such as methane, and raised the amount of the tax credit per ton. Carbon oxides captured and used for enhanced oil recovery can now receive a tax credit of up to $35 per ton, while carbon oxides deposited in secure geological storage can receive a tax credit of up to $50 per ton.
Continue Reading IRS Takes First Steps to Implement Carbon Capture Tax Credit
The removal of diesel trains from operation in the UK could be accelerated as part of the UK government’s plans to reduce carbon emissions.
In a speech in February 2018,
Continue Reading Acceleration of the Removal of Diesel (and Bi-Mode) Trains From UK Operation?
On Sept. 25, Minnesota Gov. Tim Walz asked the Minnesota Pollution Control Agency (MPCA) to initiate the process to establish a Clean Cars Minnesota Rule, which would set both a low-emission vehicle (LEV) standard and a zero-emission vehicle (ZEV) standard. Next month, the MPCA will begin its rulemaking process, with a goal of adopting a final rule by December 2020. If implemented, Minnesota would join 14 states with an LEV standard, 11 of which also have a ZEV standard.
The Minnesota plan is modeled after California LEV and ZEV standards. California has a nearly 50-year-old waiver under the Clean Air Act permitting the state to set stricter emission standards. After indications that the federal government would publish a rule revoking the waiver, California, joined by 22 other states, including Minnesota, and the District of Columbia filed a lawsuit seeking to enforce states’ rights to set emission standards more stringent than those imposed by the federal government. The lawsuit presents novel questions under the Clean Air Act including whether a waiver can be revoked, and if so, under what circumstances. Any final rule in Minnesota will be contingent on states retaining the right to adopt more restrictive measures, including through the operative waiver under Sections 209(b) and 177 of the Clean Air Act.
Continue Reading In Minnesota, More Little Red Corvettes May Soon be Electric