As more advisory services, investment companies, and public companies have publicized their Environmental, Social, and Governance (ESG) goals, the U.S. Securities and Exchange Commission (SEC) has proposed a set of new rules intended to create a consistent, comparable, and reliable source of information regarding climate change impacts and sustainability efforts to inform and protect investors while facilitating further innovation in this evolving area.
The SEC’s proposed new rules have,… More
On July 31, 2023, Boston Mayor Michelle Wu signed an executive order ending the use of fossil fuels in new construction and major renovations of city-owned buildings. Although city buildings comprise a small percentage of overall carbon emissions in Boston, the new executive order aligns with larger efforts to decarbonize both publicly and privately owned buildings throughout Boston.
The executive order covers both new city buildings and renovation projects affecting 75% or more of a city building’s square footage.… More
On June 26, 2023, the Cambridge City Council voted to amend the city’s Building Energy Use Disclosure Ordinance (BEUDO) to require large non-residential buildings to reach net zero greenhouse gas emissions by 2035 and mid-size non-residential buildings to do so by 2050. The BEUDO amendment sets one of the most ambitious municipal net zero building targets in the country and establishes a new benchmark for climate-focused cities—yet questions remain as to whether these goals can actually be achieved.… More
On January 12 and 13, Foley Hoag attorneys will lead a series of discussions about the significance of New York Climate Action Council’s recently-released draft Scoping Plan to the state’s continuing clean energy transformation. Richard Kauffman, Chairman of the New York State Energy Research and Development Authority, will provide keynote remarks. The draft Scoping Plan, which we discussed in a recent blog post, describes the market-based solutions and government actions that will be needed to achieve the ambitious climate goals set forth in the Climate Leadership and Community Protection Act.… More