You have probably seen previous pieces where I borrow from one of our other publications – TheCorporateCounsel.net. I’m doing that again today to make sure you don’t miss a few from recent days I thought were particularly compelling:
- Materiality graphic from Perkins Coie’s Allison Handy.
- Boards are making ESG oversight and enhancing racial and ethnic diversity prior their top governance priorities.
- Observations and trends in SEC comment letters on human capital disclosures, which could inform companies on where SEC may go with certain aspects of “S” in future ESG disclosure rules.
One item that is new news is that today, the US Bureau of Reclamation announced a Level 1 Shortage Condition at Lake Mead and a reduction in downstream releases from Glen Canyon Dam and Hoover Dam in 2022 due to declining reservoir levels. Lake Mead was created by the construction of Hoover Dam in the 1930s and is at its lowest level since the dam was built.
One possible impact of the announcement is increased governmental attention on water use, rights and resources in the near term. Companies that rely on large amounts of water may find themselves unexpectedly fighting for rights, under severe use restrictions that negatively affect business performance – or both.