Energy & Sustainability Litigation Updates – June 2023 – Energy Law

Energy & Sustainability Litigation Updates – June 2023 – Energy Law



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Regulatory Updates — SEC

The SEC recently indicated that its proposed climate change
disclosure rule would likely be finalized and released in October
2023. This is fully 18 months after it was initially proposed in
March 2022. While this delay is unsurprising given the complexities
of the proposed rule and the significant amount of public
engagement, this delay creates additional difficulties for
regulated entities due to the longer period of uncertainty as to
what will and will not be included in the final SEC climate change
disclosure rule. It is also unclear when the SEC will mandate
compliance with the final rule — although litigation
challenging the final climate change disclosure rule may well
further extend any proposed compliance date.

Regulatory Updates — CFTC

The Commodity Futures Trading Commission (CFTC) recently issued
a call for whistleblower tips in connection with fraud or
manipulation in the carbon markets. This alert specifically focused
on the possibility for fraud or manipulation with respect to carbon
offsets. This announcement by the CFTC is effectively a means for
the CFTC to assert regulatory authority in connection with the
voluntary carbon credit market and to indicate that the CFTC plans
to pursue regulatory enforcement actions in this area.

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