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In 2019, the New York City (NYC) Council enacted Local Law 97 (LL97) in an effort to reduce greenhouse gas (GHG) emissions to net zero by 2050 from the sector of the NYC economy that emits the most GHGs — buildings. As summarized in our May 2023 client alert, LL97 establishes increasingly stringent emissions caps during five-year compliance intervals that will affect approximately 40,000 buildings located across NYC beginning on Jan. 1, 2024.
Property-casualty insurers should take note of letters sent by the U.S. Senate Budget Committee on June 9 to prominent insurers seeking information on climate-related matters. The letters are available here and seek production of information regarding these companies’ practices that bear on climate change. The letters implicate both insurance-underwriting activities and investing activities of these insurers.
Few five-word phrases have vexed the justices of the United States Supreme Court more than “waters of the United States” as used in the Clean Water Act (CWA or Act). The Court has attempted to define the term, and thereby the scope of the federal government’s jurisdiction to regulate activities that impair the nation’s water quality, in four cases over the past 35 years. The Court’s attempt 17 years ago in Rapanos v.
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