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Climate change science is back in the headlines and social
media. New York is attempting to use its powers under the Martin
Act to investigate prior corporate disclosures on climate change.
In early November, New York Attorney General Eric Schneiderman
issued a subpoena to Exxon and sources say New York is
investigating Exxon's disclosures to the Securities and
Exchange Commission (SEC) in light of recent allegations that Exxon
suppressed internal investigations on climate science over the last
40 years. The Exxon investigation follows on the heels of Los
Angeles Times and InsideClimate reviews of Exxon
archived documents earlier this year. According to Exxon, these
reports distort ExxonMobil's history of climate research
through selective, out-of-context use of publicly available company
documents. Exxon has made the documents available on its website so
that readers can make their own evaluation.
New York also completed another climate change-related Martin
Act investigation this month. Attorney General Schneiderman reached
an agreement with Peabody Energy after several years of
investigation of Peabody's disclosures on climate change under
the Martin Act. As part of the settlement, Peabody Energy will have
to revise its shareholder disclosures to include statements that
"concerns about the environmental impacts of coal combustion .
. . could significantly affect demand for our products or our
securities." This regulatory activity has put the spotlight
back on what companies may need to include in their corporate
disclosures on climate change and whether these disclosures or
required changes to them are a source of liability.
What could this regulatory action mean for your company?
Increased cost of defending media allegations, regardless of
ultimate merit
Increased scrutiny of all corporate disclosures including
non-voluntary and voluntary disclosures (e.g., SEC, FTSE, Carbon
Disclosure Project, NAIC)
Potential for more investigations under the Martin Act
Questions about insurance (for insurers, is there any exposure
and for insureds, is there any coverage?)
Increased shareholder action
The potential for follow-on lawsuits
Possible SEC and Justice Department investigations of SEC
disclosures
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guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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24 Oct 2017, Seminar, Washington, DC, United States
The Dentons Forum for Women Executives invites you to join us for a luncheon featuring guest speaker Liza Mundy, journalist and author. Ms. Mundy recently released her latest book, Code Girls, the riveting untold story of more than 10,000 spirited young American women who cracked German and Japanese codes to help win World War II.
All attendees will receive a complimentary signed copy of Code Girls. We look forward to seeing you for what promises to be an interesting and informative discussion.
Earn up to six credits towards Virginia's October 31 MCLE compliance deadline (CLE accreditation applied for; status pending) at this no-cost, full-day program.
Choose up to six classes, including one hour of Professional Responsibility/Ethics and other sessions designed specifically for in-house counsel. You are welcome to stay the entire day or any part of the day.
Please join the Government Contracts team for good conversation, cocktails and hors d'oeuvres at the historic Watergate Hotel. We will gather in the hotel's luxury Top of the Gate rooftop bar, with ideal views of the sunset over the Potomac.
Cozad worked in Washington, D.C., for the first six months of 2017 as Acting Deputy Assistant Administrator for the Office of Enforcement and Compliance Assurance for the new Trump administration.
The purpose of the EO is "to ensure that the Federal environmental review and permitting process for infrastructure projects is coordinated, predictable, and transparent."
As the cleanup begins in Florida, companies face challenges in meeting existing environmental obligations and addressing the environmental impacts of the storm.
Last week, the 10th Circuit Court of Appeals dismissed as prudentially unripe appeals of last year's District Court decision striking down BLM's 2015 fracking rule.
On Monday, EnergyWire (subscription required) reported that New York City Mayor Bill de Blasio has unveiled a plan to cap fossil fuel use in buildings in New York City.
Power plants will not have to meet new limits until 2020 for toxic wastewater that comes from using air pollution control systems and transporting bottom furnace ash.
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Trump's 2-For-1 Order: Still Arbitrary And Capricious After All These Months (Video)
