Investments in Clean Buildings Announced by New York Governor

On the Duane Morris Construction Law Blog, attorney Jose A. Aquino writes that:

New York Governor Kathy Hochul announced new investments in clean and efficient buildings. As part of her 2023 State of the State, Governor Hochul introduced a series of building decarbonization initiatives, including zero-emission for new construction and the phase out of the sale of new fossil fuel heating equipment.

Read the full post.

 

New ESG Disclosure Rules: EU Corporate Sustainability Reporting Directive

In April 2021 the European Commission presented a proposal for a Corporate Sustainability Reporting Directive (CSRD) that would amend the current Non-Financial Reporting Directive (NFRD) and form part of the wider EU policy to require companies to publicly disclose information and data around environmental, social affairs and governance matters.

On 28 November 2022, the European Council adopted the CSRD following adoption by the European Parliament on 10 November 2022. The CSRD will come into force 20 days after publication in the EU Official Journal and EU member states will then have 18 months to incorporate it into their national laws.

To read the full text of this blog post by Drew Salvest, Natalie Stewart and Rebecca Green, please visit the Duane Morris London Blog.

Decarbonization of the UK Construction Sector?

It’s probably too early to deliberate whether COP 26 was a success, and if progress has been made since Paris. Glasgow will be remembered for the passionate speech from the Maldives representative, which reminded us (if ever we needed reminding) of the Armageddon-esque effects of climate change to the planet as a whole, and to small island nations in particular. The target remains to aim for net-zero carbon emissions by 2050, and to keep global warming close to 1.5 degrees.

To read the full text of this post by Duane Morris partner Vijay Bange, please visit the Duane Morris London Blog.

Potential for Bipartisan Climate Change Action in 2021 with the Biden Administration

As we almost turn the page from 2020 to 2021, many have cause for optimism with regard to the incoming Biden Administration and the potential for bipartisan climate change engagement and action.  A hint of cautious optimism is, indeed, in the air.

President elect Biden campaigned on an ambitious climate action agenda and both R’s and D’s seem ready to address climate change and risk as part of a renewed focus on the environment.

To read the full text of this post by Duane Morris partner Brad Molotsky, please visit the Duane Morris Opportunity Zones – Insight from the Land of OZ Blog.

Support for Establishment of a Sustainability Standards Board Announced by IOSCO

Earlier this week, per reporting from ESG Today, the International Organization of Securities Commissions (“IOSCO”) sustainability task force announced it support for the establishment of a Sustainability Standards Board under the IFRS Foundation, a big step towards continued reporting and standardization of reporting methodology.

To read the full text of this post by Duane Morris partner Brad Molotsky, please visit the Duane Morris Opportunity Zones – Insight from the Land of OZ Blog.

United Airlines’ Goal to be 100% Carbon Neutral by 2050 – Makes Significant Carbon Sequestration Joint Venture Investment

United Airlines announced earlier today, Thursday, December 10, 2020 that it is making a “multi-million dollar investment” into carbon capture and sequestration technology, a move they say will help them reach a goal of 100% carbon-free by 2050.

To read the full text of this post by Duane Morris partner Brad Molotsky, please visit the Duane Morris Opportunity Zones – Insight from the Land of OZ Blog.

 

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The opinions expressed on this blog are those of the author and are not to be construed as legal advice.

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