The Climate Report | Fourth Quarter 2022
Daniella Einik
Daniella (Dani) Einik, partner in Jones Day's Government Regulation Practice, focuses on environmental litigation, transactional, and compliance issues. She advises and counsels clients on environmental issues related to bankruptcy, corporate transactions, and compliance with the federal Clean Air Act, Clean Water Act, Toxic Substance Control Act, Resource Conservation and Recovery Act, and Comprehensive Environmental Response, Compensation, and Liability Act. Dani is also involved in the Firm’s representation of clients in climate change litigation and the counseling of clients on climate change-related issues.
"What I really find exciting and fascinating about environmental litigation and really the full service practice of environmental law is the fact that environmental issues permeate through all areas of the law and almost all economic sectors. As a result I have been able to assist a wide array of clients, from traditional industrial manufacturers to emerging technology companies, on cutting-edge issues," she says. "We are seeing this more and more in recent years as both federal and state governments are requiring that climate and environmental issues be taken into account in nontraditional environmental spheres, such as financial reporting."
REGULATORY ISSUES & UPDATES
California Enacts Sweeping Climate Measures
A broad legislative package signed into law in September aims to aggressively address climate change. The legislation includes statewide carbon neutrality requirements, renewable energy and zero-carbon resource requirements, and targets for carbon sequestration and emissions reductions on natural and "working lands."
New Legislation Shaping Australia's Emissions Reduction Policy
The legislation requires greater transparency and accountability by the Australian government in monitoring and disclosing progress towards meeting emissions reduction and renewable energy targets.
The Carbon Takeback Obligation—A Proposal for Reaching Net Zero
The Carbon Takeback Obligation, which is gaining traction across Europe, would require fossil fuel producers to permanently sequester a percentage of the CO2 generated by their products.
U.S. Senators Urge CFTC to Regulate Carbon Credit Markets
A letter from seven U.S. senators to the CFTC shared concerns with the integrity of the carbon credit markets and urged investigation and regulation of voluntary carbon offsets markets.
LITIGATION ISSUES & UPDATES
Wave of Climate-Related Actions by First Nations Peoples in Australia and the Torres Strait Islands
Recent matters involving First Nations Peoples bringing climate-related claims demonstrate a high degree of sophistication and collaboration among interest groups globally in invoking court processes and public international law mechanisms to agitate climate-related issues.
European NGOs Challenge the Inclusion of Natural Gas and Nuclear Energy in the Taxonomy Regulation
Neither the internal review process nor the potential proceedings before the CJEU will suspend the implementation of Delegated Regulation (EU) of March 9, 2022. However, both nuclear and natural gas are considered as possible "transition" energy under the taxonomy and will be revisited in a few years.
U.S. Supreme Court Signals Interest in Climate Change Litigation
Regardless of its outcome, the Suncor Energy (U.S.A.) Inc. v. Board of County Commissioners of Boulder County petition could have immense impact on the future of climate change litigation in the United States.
French Tribunal Dismisses NGO Suit on Carbon Neutrality Claims
The Tribunal dismissed a misleading commercial practice claim brought by a consumer protection NGO against an energy supplier claiming that its offer was "carbon neutral and 10% cheaper."
TRANSACTIONAL ISSUES & UPDATES
U.S. Federal Reserve Announces Climate Scenario Analysis Program
In a first-of-its-kind program, the Fed will provide participating banks with "climate scenario narratives" comprising climate, economic, and financial variables for use in analyzing impact on specific portfolios.
Decarbonizing for Net Zero
The number of opportunities for decarbonization in the coming years is set to increase, and companies need to be prepared with a full set of tools to take advantage of them.
Recent Shifts in UK Government's Climate Change Policy
An independent review of the UK government's approach to delivering its net-zero target reveals a shift in the motivation for achieving net zero by 2050—from being primarily environmentally driven, to a possible economic opportunity.
