U.S. Fish and Wildlife Service Finalizes Changes to Voluntary Endangered Species Act Programs and Related Permitting Process
On Friday, April 12, 2024, the U.S. Fish and Wildlife Service (the Service) issued a Final Rule making changes to 50 CFR part 13 to clarify and expedite the process for issuing enhancement of survival permits and incidental take permits pursuant to Section 10(a)(1)(A) and (B), respectively, of the Endangered Species Act. The regulatory changes are intended to provide the Service greater flexibility in implementing the permitting process and generate greater conservation results by encouraging additional engagement in voluntary programs associated with these permits, including safe harbor agreements (SHAs), candidate conservation agreements with assurances (CCAAs), and habitat conservation plans (HCPs).
SEC Finalizes Climate-Related Disclosure Rules Ushering in a New Era of Public Company Climate Reporting
On March 6, 2024, the U.S. Securities and Exchange Commission (SEC) adopted final rules that will require domestic and foreign registrants to include extensive climate-related information in their registration statements and periodic reports.
U.S. Army Corps of Engineers Proposes Broader Historic Preservation Review
On February 9, 2024, the U.S. Army Corps of Engineers (Corps) published a proposed rule that would amend the Corps permitting regulations to follow the National Historic Preservation Act (NHPA) implementing regulations as developed interpreted by the Advisory Council on Historic Preservation (ACHP). Specifically, the Corps proposes removing its own NHPA regulations, Appendix C from 33 CFR part 325, and replacing them with those promulgated by the ACHP at 36 CFR part 800. This change may lengthen the regulatory review process and expand the scope of the Corps’ NHPA review.
U.S. EPA Bans Hydrofluorocarbons in Refrigeration, Air Conditioning, and Heating Products
On October 5, 2023, the U.S. Environmental Protection Agency (EPA) issued a final rule restricting the use of hydrofluorocarbons (HFCs) in new aerosol, foam, and refrigeration, air conditioning, and heat pump (RACHP) products and equipment. The rulemaking is part of the phasedown of HFCs under the American Innovation and Manufacturing Act of 2020. The final rule also establishes a process to submit technology transition petitions to restrict the use of HFCs in industry sectors in which they are used.
Federal Court Upholds U.S. Department of Labor ESG Rule
On September 21, 2023, Judge Matthew J. Kacsmaryk of the U.S. District Court of the Northern District of Texas rejected a challenge by 26 states and upheld the U.S. Department of Labor (DOL) rule that permits fiduciaries of plans subject to the Employee Retirement Income Security Act of 1974 (ERISA) to consider environmental, social, or governance (ESG) considerations under certain circumstances when making investment decisions. By upholding the rule, the court rejected the states’ contention that by allowing ESG considerations, financial interests would be subordinate to nonpecuniary interests. Stakeholders interested in ESG should continue to track this ruling, which may be appealed.
