Environmental Law Matters Blog | Burr & Forman LLP

The Continuing WOTUS Saga

Schuyler K. Espy — Wed, 08 Dec 2021 09:00:01 -0500

On Tuesday, December 7, 2021, the U.S. Environmental Protection Agency and the Army Corps of Engineers published for public comment a proposed rule revising the definition of “Waters of the United States” (“WOTUS”). The agencies indicate the proposal would “meet the objective of the Clean Water Act and ensure critical protections for the nation’s vital water resources, which support public health, environmental protection, agricultural activity, and economic growth across the United States.”

The proposed rule replaces the “interstate commerce” test ...

PFAS: What’s Happening In Your State?

Schuyler K. Espy — Mon, 02 Aug 2021 09:00:02 -0400

Per- and polyfluoroalkyl substances, or "PFAS" as they are commonly known, are a group of thousands of man-made chemicals that have been manufactured in the United States and around the globe for several decades. These days, PFAS are a frequent topic of discussion for many environmental professionals, as affected clients make efforts to prepare themselves for seemingly inevitable regulation. But the prep work that is involved depends on where the client is operating, as the type of and speed at which regulatory changes are occurring varies across the nation.

In her article ...

Climate, ESG Top Lee's List at SEC

Thomas K. Potter, III — Tue, 16 Mar 2021 09:00:03 -0400

In a March 15, 2021 address to the Center for American Progress, SEC Acting Chair Lee was clear:

No single issue has been more pressing for me than ensuring that the SEC is fully engaged in confronting the risks and opportunities that climate and ESG pose for investors, our financial system, and our economy.

That’s been apparent from the steady stream of climate and ESG-focused initiatives she has been announcing since January. Her reasoning is that because many investors (and indeed asset managers and other market participants) think these issues are significant, then they are:

Climate Gets Heated at the SEC

Thomas K. Potter, III — Fri, 05 Mar 2021 09:00:04 -0500

On March 4, Acting Chair Allison Herren Lee announced the creation of a “Climate and ESG Task Force” of 22 members from across the Enforcement Division:

Consistent with increasing investor focus and reliance on climate and ESG-related disclosure and investment, the Climate and ESG Task Force will develop initiatives to proactively identify ESG-related misconduct. The task force will also coordinate the effective use of Division resources, including through the use of sophisticated data analysis to mine and assess information across registrants, to identify potential ...

SEC to Review Public-Company Climate-Change Disclosures

Thomas K. Potter, III — Fri, 26 Feb 2021 09:00:05 -0500

Acting SEC Chair Allison Herren Lee issued a February 24 statement directing the Commission Staff to review public-company climate-change-related disclosures. The staff will assess current disclosures in light of the SEC’s prior 2010 guidance and “update” that guidance.

The prior guidance did not mandate specific climate disclosures but instead focused on how climate-change issues might affect existing disclosure obligations regarding, for example, material legal compliance or litigation issues, material risks, and the effect of known trends, developments, or a ...

Financial-Services Associations Release Principles for Financing Sustainable Low-Carbon Economy

Thomas K. Potter, III — Fri, 19 Feb 2021 09:00:06 -0500

The U.S. Climate Finance Working Group released its February 18, 2021 policy statement, “Financing a U.S. Transition to a Sustainable Low-Carbon Economy.” The Working Group comprises eleven of America’s leading financial-services industry associations, broadly representing “Wall Street.”

With climate-change initiatives among the top priorities announced by the new Biden administration, the Working Group

“seeks to engage with incoming leaders and members of Congress on a bipartisan basis to help establish a shared vision for U.S. climate policy. By so doing ...