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On June 18, 2024, the Department of the Treasury (the “Treasury”) and the Internal Revenue Service (the “Service”) issued (T.D. 9998) (the “Final Regulations”) regarding compliance with the prevailing wage and apprenticeship requirements (the “PWA Requirements”) impacting many of the clean energy tax credits introduced or expanded by the Inflation Reduction Act of 2022 (the “IRA”).
V&E Renewable Energy Update
In a potentially significant development that may impact the economics of aviation, the California Air Resources Board (“CARB”) is proposing a policy, as we previewed in January 2024, to update the state’s Low Carbon Fuel Standard (“LCFS”) program, whereby CARB would eliminate the existing exemption for intrastate fossil jet fuel from LCFS regulations beginning in 2028.
V&E ESG Update
In a significant legal maneuver with potentially far-reaching implications, California Attorney General Rob Bonta filed an amended complaint on June 10, 2024, to California’s high-profile lawsuit targeting five of the world’s largest oil companies: BP, Chevron, Exxon Mobil, Phillips 66, Shell, as well as the American Petroleum Institute (“API”).
V&E ESG Update
Due to the increased demand for critical minerals globally, Nabil Khodadad and Nonku Zondo explore how the African mining sector can benefit from and lead the energy transition.
Published by Global Mining Review
Consumer packaged goods companies know that sustainability sells. And in their efforts to market their products as sustainable, they’ve long contended with allegations of greenwashing—the practice of claiming their products are friendlier to the environment than they actually are.
Published in Oilman Magazine
Step into the world of ESG – Environmental, Social and Governance – with Jon Solorzano, Counsel and Co-Head of Vinson & Elkins’ ESG Taskforce, as he offers insights in this captivating Regulatory Ramblings episode.
Published by Regulatory Ramblings
In this article for ESG Investor, Chris Taufatofua, Afzaal Abidi, and Ellen Swarbrick* explain how technological innovation is helping identify alternatives to critical minerals that can accelerate the wider energy transition.
Published by ESG Investor February 16, 2024
After much anticipation, on March 6, 2024, the Securities and Exchange Commission (“SEC” or the “Commission”) released its Final Rule—The Enhancement and Standardization of Climate-Related Disclosures for Investors—mandating climate-related disclosures by public companies.
Following a nearly two-year wait, the Securities and Exchange Commission (“SEC” or “Commission”) released its Final Rule—The Enhancement and Standardization of Climate-Related Disclosures for Investors—on March 6, 2024.
V&E SEC Update | Originally Published March 7, 2024
V&E ESG Update
ExxonMobil (“Exxon”) filed a complaint in the U.S. District Court for the Northern District of Texas on Sunday, January 21, 2024, seeking a declaratory judgment to exclude a shareholder proposal from its proxy statement pursuant to Rule 14a-8 of the Securities Exchange Act of 1934 (“Rule 14a-8”) and not present the proposal for a vote at its 2024 annual shareholder meeting.
V&E SEC Update | Originally Published January 22, 2024