The U.S. Securities and Exchange Commission (SEC) promulgated its final Climate-Related Disclosure Rule on March 6, 2024. The SEC Climate Disclosure Rule marks a significant step forward in corporate transparency, compelling publicly traded companies to disclose climate-related risks and their direct greenhouse gas emissions within their key public filings.

The Corporate Sustainability Reporting Directive (CSRD) is the cornerstone sustainability disclosure regulation adopted by the European Commission (EC). The CSRD requires comprehensive sustainability reporting requirements and obligations. This directive significantly expands the scope and content of existing nonfinancial reporting obligations, encompassing a broader range of entities and requiring more detailed reporting on ESG topics. The CSRD applies to European Union (EU) companies and to public and private non-EU companies that meet specific thresholds.

The World Economic Forum (WEF) has published its Global Risks Report 2024. The report identifies a series of accelerating changes that could reshape the world in the coming decade, and it highlights the global risks that are likely to present material crises. The risks that pose the most significant threat in the long term include climate change, demographic changes, and technological and geopolitical shifts. The report warns of the threats to climate-vulnerable populations, biodiversity loss, and ecosystem collapse.

The 28th United Nations Framework Climate Change Conference (UNFCCC), commonly referred to as COP28, has concluded in Dubai. Delegations from nearly 200 member nations to the UNFCCC convened in the ongoing effort to collaborate and combat the escalating threat of climate change.

The U.S. Court of Appeals for the Fifth Circuit recently upheld the NASDAQ Board Diversity Rule. This rule, aimed at public disclosure and transparency, stipulates that companies listed on the NASDAQ stock exchange should have a diverse board of directors or provide a compelling explanation for any deviations from that guideline.

The U.S. Congress overhauled the U.S. Food & Drug Administration’s (FDA) oversight framework of the cosmetics industry with passage of the Modernization of Cosmetics Regulation Act (MoCRA). MoCRA represents the first major cosmetics update to the Food, Drug, & Cosmetics Act (FDCA) since 1938.

California, the world’s fifth largest economy, is leading the way in the U.S. fight against climate change with two groundbreaking legislative bills—Senate Bill (SB) 253 (Climate Corporate Data Accountability Act) and SB 261 (Greenhouse Gases: Climate-related Financial Risk). These bills represent a turning point in corporate climate accountability and transparency, pushing businesses to align their practices with climate goals.

The Inflation Reduction Act (IRA) was predicted to catalyze the clean energy transition in the United States when it was enacted one year ago—and it has delivered on that expectation. The IRA provided unprecedented investments in clean energy and infrastructure across industry sectors and has spurred significant reductions in carbon emissions.

The Group of Seven (G7) recently held its annual summit in Hiroshima and made significant commitments on climate and sustainable development. The G7 forum for intergovernmental collaboration emerged 50 years ago, and is organized around shared values of pluralism, liberal democracy and representative government.

The U.S. Environmental Protection Agency (“EPA”) has proposed new Greenhouse Gas Standards and Guidelines for Fossil Fuel-Fired Power Plants (the “proposed regs”). Power plants generate approximately 25% of all U.S. greenhouse gas (GHG) emissions.

We’re in the midst of proxy season in which publicly traded companies report on the current state of corporate affairs to their shareholders during an annual meeting and through related communications including an annual report and proxy statements.

Electricity generation and transportation are the two primary emitters of greenhouse gases (GHG) worldwide. The transportation sector is the largest source of GHG emissions in the United States as it produces approximately 27% of all GHG emissions. Globally, transport’s share of the pie is slightly less, coming in around 20% of total GHG emissions.

The recently released Intergovernmental Panel on Climate Change (IPCC) Synthesis Report underscores that immediate action is imperative. We must reverse course within a rapidly closing window to secure a livable future. This is the most critical decade for climate solutions.

President Biden delivered his annual State of the Union Address last evening. It’s always a momentous night in Washington and every year I recall addresses from years past. Many of those memories are from working the run-up to the event, from watching with colleagues in various marble halls of government and from venerable viewing perches like Off the Record.

The annual meeting of the World Economic Forum (WEF) begins Monday in Davos. This year’s theme is Cooperation in a Fragmented World, which captures the crucial point that collaborative solutions are needed if we are to mitigate the critical global risks we are currently facing.

The 15th conference of the parties (COP15) to the United Nations Convention on Biodiversity concludes in Montreal today. The conference serves as a biennial convening of global governments to set 10-year goals on conservation and sustainable resource use and to carve a path to mitigate biodiversity loss.

Many charitable organizations are conducting year-end wrap-ups including assessments of key accomplishments and metrics, annual reporting and board meetings. Given the complexity of IRS and state charitable org regulations for public charities and private foundations, governance is often seen as checklist when it is in practice dimensional as it must be incorporated into organizational strategy and operations to be effective.

The global carbon dioxide (CO2) emissions map has been circulating recently and receiving its due reaction. The visual depiction is striking. The more radiant the light, the more intense the CO2 emissions. The graphic, produced by geospatial data scientist Adam Symington (Python Maps), illustrates CO2 emissions around the world based on the European Commission’s 2018 tracking data.

The 2030 Agenda for Sustainable Development, adopted by United Nations Member States in 2015, launched the well-known Sustainable Development Goals (SDGs). The 17 SDGs were designed as imperatives to be achieved through partnership with the understanding that strategic and collective action was necessary for progress. The United Nations General Assembly meeting this year marked the midpoint in the SDG timeline and with it came the warning that we are not on track to meet the goals.

The 27th Conference of the Parties of the United Nations Framework Convention on Climate Change (COP27) closed yesterday in Sharm El Sheikh. The convening has historically provided a forum for governments around the globe to align commitments and to discuss paths forward to mitigate the impacts of climate change.