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Inflation Reduction Act
Biden Administration Announces Voluntary Carbon Market Principles
The recent Joint Policy Statement and Principles (Principles) released by the Biden Administration, and related remarks by Secretary of the Treasury Janet L. Yellen , mark a significant milestone in the development of the voluntary carbon market (VCM). Our views...
Treasury Department and IRS Release Proposed Regulations for Clean Electricity Credits Under Code Sections 45Y and 48E
On May 29, 2024, the Treasury Department and the Internal Revenue Service (IRS) released a notice of proposed rulemaking (Proposed Regulations) with respect to Section 45Y (clean electricity production credit or CEPC) and Section 48E (clean electricity investment credit or...
We Need a Legislative Path to Power Plant Emissions Cuts
Electricity is increasingly central to Americans — powering not only our homes and businesses, but also our cars, our digital devices and countless other essential aspects of modern life. The grid that delivers electricity to virtually every household is one...
Greenwashing: Emerging Compliance and Cross-Border Legal Risks
Greenwashing, or the use of green ‘claims’ to improve a business’ or product’s environmental credentials with consumers, has come under significant scrutiny in recent years. Both the Advertising Standards Authority and the Competition and Markets Authority ( CMA ) have...
Order No. 1920: Building for the Future Through Electric Regional Transmission Planning and Cost Allocation – Landmark Order Substantively Expands Planning Obligations for Transmission Providers
On May 13, 2024, the Federal Energy Regulatory Commission (“FERC” or “Commission”) issued a landmark final rule implementing transmission planning and cost allocation reforms intended to promote the more efficient and cost-effective integration of new renewable generation and battery energy...
Order No. 1977: FERC Siting Permits for Interstate Electric Transmission Facilities – FERC Finalizes Backstop Transmission Siting Reforms
On May 13, 2024, the Federal Energy Regulatory Commission (“FERC” or Commission) issued a final rule amending its regulations governing FERC’s review of applications for transmission siting permits pursuant to section 216 of the Federal Power Act (“FPA”), commonly referred...
Getting Your Carbon Credits Voluntarily
Bracewell’s Gordon Stewart, Oliver Irwin and Mark Kahn take a deep dive into carbon credits as tradable certificates in this Project Finance International article, and how it is possible for an entity to purchase these certificates voluntarily in order to offset its own emissions.
Market Integrity and Standardization: Shaping the Rules of the Voluntary Carbon Market
Bracewell’s Nicholas Neuberger and Adam Waszkiewicz take a look at how the rapidly evolving voluntary carbon market is attracting further scrutiny and questions surrounding governance and quality control.
Compliance With a Few of EPA’s New RMP Program Changes Is Required Starting in May 2024
On March 11, 2024, EPA’s “Safer Communities by Chemical Accident Prevention Rule” (the SCCAP Rule) was published in the Federal Register. See 89 Fed. Reg. 17622 (Mar. 11, 2024). The SCCAP Rule makes a number of significant changes to the...
US Producers File Antidumping and Countervailing Duty Petition Against Solar Cells and Panels From Southeast Asia
The American Alliance for Solar Manufacturing Trade Committee (Alliance) filed a petition with the US International Trade Commission (ITC) and the US Department of Commerce (Commerce) for the imposition of antidumping and countervailing duties (AD/CVD) on US imports of crystalline...
Offshore Wind Litigation: First Circuit Affirms Dismissal of Challenges Against Vineyard Wind
The US Court of Appeals for the First Circuit has affirmed the dismissal of two legal challenges to the Vineyard Wind 1 project (the Project). On April 24 and April 25, 2024, the same panel of First Circuit judges issued...
US Supreme Court Holds That Pure Omissions Are Not Actionable Under Federal Anti-Fraud Rule
In a unanimous decision, the US Supreme Court held that pure omissions are not actionable under Rule 10b-5(b) under the Securities Exchange Act of 1934. [1] Rather, the Court found that Rule 10b–5(b) prohibits half-truths, not pure omissions, because the...
BOEM Finalizes Long-Awaited Overhaul of Offshore Oil and Gas Financial Assurance Regulations
The Bureau of Ocean Energy Management (BOEM) announced its finalization of a rule substantially revising the financial assurance requirements applicable to offshore oil and gas operations. The final rule revises criteria for determining whether oil, gas, and sulfur lessees, right-of-use...
The SEC’s Final Rules on Climate-Related Disclosures: A Guide for In-House Counsel
The US Securities and Exchange Commission’s recently adopted rules governing climate-related disclosures, although significantly pared back from the rules proposed two years ago, represent a major change to the existing public-company disclosure regime. The rules require that public companies include...
Protecting Energy Investments in Europe: UK Announces Withdrawal From the Energy Charter Treaty
On 22 February, the UK announced its intention to withdraw from the Energy Charter Treaty. According to Energy Security and Net Zero Minister Graham Stuart, the decision will support the UK’s transition to net zero and strengthen its energy security...