Governor Murphy Selects 20 Member NJ Council on the Green Economy

Early today, February 25, 2021, Governor Phil Murphy announced his 20 picks to the newly created NJ Council on the Green Economy (“NJCOGE“). 

This Council on the Green Economy and the umbrella organization of the Office of Climate Action and the Green Economy are focused on “building a roadmap for transitioning the workforce into high-quality, family-sustaining clean energy jobs that will provide opportunities for all New Jerseyans” per Governor Murphy.

As announced in the 2021 budget discussions, various state leaders believe that NJ’s recovery from the pandemic will be partly driven by the clean energy economy – one centered around clean power sources and offshore wind and on shore solar.

Governor Murphy’s $44.8 billion plan discussed in his Budget Address on February 23rd calls for $200 million to be invested in an “offshore wind port” in Camden County along the Delaware River. This wind port is intended to serve as a staging area for supply chains related to the growing wind industry and provide a place to ship wind turbines across the country.

Separately, NJ is enjoying a bit of a renaissance in the solar installation arena given its current TREC program.

The 20-members of the NJ COGE are:

Honorary Chair: First Lady Tammy Murphy
Executive Director: Jane Cohen, executive director, Office of Climate Action and the Green Economy
Co-Chair: Shawn LaTourette, acting commissioner, New Jersey Department of Environmental Protection
Co-Chair: Robert Asaro-Angelo, commissioner, New Jersey Department of Labor and Workforce Development
Co-Chair: Joseph Fiordaliso, president, New Jersey Board of Public Utilities
Donnel Baird, founder, BlocPower
Tom Churchelow, president, New Jersey Utilities Association
Francisco Cortes, president, NJ State Veterans Chamber of Commerce and Corporate Advisory Board Member of the Statewide Hispanic Chamber of Commerce New Jersey
Dave Daly, president, PSE&G
Kim Gaddy, environmental justice organizer, Clean Water Action
Aisha Glover, vice president of urban innovation, Audible
Lisa Jackson, former Environmental Protection Agency administrator and vice president of environment, policy, and social initiatives, Apple
Sean Jackson, chief executive officer, Isles
Andrea Jung, president and chief executive officer, Grameen America
John Kennedy, chief executive officer, New Jersey Manufacturing Extension Program
Kevin Lyons, associate professor of supply chain archaeology, Rutgers University
Debra Coyle McFadden, executive director, New Jersey Work Environment Council
Bill Mullen, president, New Jersey Building and Construction Trades Council
Alli Gold Roberts, director of state policy, Ceres
Charlie Wowkanech, president, AFL-CIO

The goal of the NJ COGE will be to provide sustainable energy career options for thousands of NJ workers.

Just this past September, Governor Murphy signed a first of its kind “environmental justice” bill which will focus resources and attention environmentally on many lower-income, minority neighborhoods long plagued by some of the worst pollution in the state according to NJ BIZ.

That measure requires large-scale projects – whether new construction or an expansion to an existing building – that produces heavy pollution in lower-income, typically African American and Latino communities, to report on and consider the local impact.

Duane Morris has an active ESG and Sustainability Team to help organizations and individuals plan, respond to, and execute on Sustainability and ESG planning and initiatives within their own space.  We would be happy to discussion your proposed project with you.  Contact your Duane Morris attorney for more information.

If you have any questions about this post, please contact Brad A. Molotsky,  (bamolotsky@duanemorris.com), Seth Cooley, Lori Mills, David Amerikaner or the attorney in the firm with whom you are regularly in contact.

Cannabis and Social Justice (the “S” in ESG) in New Jersey

Given NJ Governor Murphy’s signature to legalize adult use recreational cannabis in NJ earlier this week, yesterday, 2-23-21, NJ Attorney General Gurbir S. Grewal announced that he has directed local law enforcement officials to drop all outstanding marijuana cases that were based on the now-legal recreational use of pot, a move that came a day after the NJ decriminalization bill and a regulatory framework for an adult cannabis market were signed into law.

The Administration was negotiating with the NJ Assembly and Senate over various decriminalization efforts, including this one, and had reach a point of agreement. While a compromise, it represents a big step forward in the social justice arena for those charged with previous cannabis related offenses.

Duane Morris has an active ESG and Sustainability Team to help organizations and individuals plan, respond to, and execute on Sustainability and ESG planning and initiatives within their own space.  We would be happy to discussion your proposed project with you.  Contact your Duane Morris attorney for more information.

If you have any questions about this post, please contact  Brad A. Molotsky (bamolotsky@duanemorris.com) or the attorney in the firm with whom you are regularly in contact.

If interested in ESG issues, please join us for next months FREE ESG panel where we will focus on the Built Environment – March 24 at 12-1 EST.

 

ESG Series – Monthly Free ESG Discussion with Industry Thought Leaders Kicks Off to over 200!

We are soo excited to report on the first of our monthly ESG (Environmental, Social and Governance) zoom webinars focusing on various and sundry ESG and Sustainability issues and topics.

Scheduled for the 3rd week of each month, these FREE webinars will gather “thought leaders” from around the globe to engage in discussion, answer questions and provide their views on what is going on in the arena, what they are planning and how they are executing.

Today’s session featured thought leaders Sara Neff, SVP of Sustainability at Kilroy Realty Trust, Dr. Chris Pyke, SVP at Arc Sokoru and Uma Pattarkine, VP of ESG at Centre Square and was a tour-de-force regarding defining Sustainability, juxtaposing it with ESG and showing how they are different.

We then ventured into a discussion of what are ESG focused companies and how their “alpha” compares vs. non-ESG companies, identified the lack of transparency in the real estate sector regarding others reporting on ESG and followed this up with sharing various “S” reporting methodologies.

Thereafter, we broke down the differences between GRI, CDP, GRESB, SASB, and the reporting of goals and outcomes. Spent some time on how folks are measuring and reporting ESG outcomes. We wrapped up the discussion focusing on how and why LEED and other third party certification methodologies are critical to showing and measuring success.

Key takeaways:

Sustainability – now becoming more carbon focused especially at the building level; measures social impact; provides a lens within which to view long term value creation and survival capabilities and resource allocation

ESG – more focused on disclosures of material, non public information, a set of practices companies should consider following; metrics to measure sustainability through

ESG Performance – ESG focused companies continue to show demonstrable outperformance metrics; the data is now more readily available and is indeed being measured; ESG centric companies have/continue to rebound faster, better and more efficiently than non-ESG focused companies in the face of the pandemic.

More C-suite, Boards, investors, employees and customers are asking ESG and Sustainability related questions and demanding answers on the ESG front than ever before.

Real Estate is currently ranked dead LAST in terms of disclosure and reporting on ESG, behind even the Energy Sector.

LEED continues to help set an aspirational tone for the sustainability movement and continues to require better results in order to score their certifications (v4 is now the standard) and operates and provides an impartial judge to call “balls and strikes” to show real action in buildings.

More and more public companies are reporting ESG goals and what they are doing, where they are doing it and how they are doing it – i.e., over 80% of the S/P 500 are reporting their ESG metrics.

We will publish a link to the webinar in the near future and all are welcome to listen and comment back and ask questions.

Next months panel will focus on the Built Environment and will be held on March 24 at 12-1 EST.

Duane Morris has an active ESG and Sustainability Team to help organizations and individuals plan, respond to, and execute on Sustainability and ESG planning and initiatives within their own space.  We would be happy to discussion your proposed project with you.  Contact your Duane Morris attorney for more information.

If you have any questions about this post, please contact Brad A. Molotsky (bamolotsky@duanemorris.com) or the attorney in the firm with whom you are regularly in contact.

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.