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The CCRcorp Network unlocks access to a world of insights, research, guides and information in a range of specialty areas.

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TheCorporateCounsel

TheCorporateCounsel.net

A basis for research and practical guidance focusing on federal securities laws, compliance & corporate governance.

DealLawyers

DealLawyers.com

An educational service that provides practical guidance on legal issues involving public and private mergers & acquisitions, joint ventures, private equity – and much more.

CompensationStandards

CompensationStandards.com

The “one stop” resource for information about responsible executive compensation practices & disclosure.

Section16.net

Section16.net

Widely recognized as the premier online research platform providing practical guidance on issues involving Section 16 of the Securities Exchange Act of 1934 and all of its related rules.

PracticalESG

PracticalESG.com

Keeping you in-the-know on environmental, social and governance developments

In another blow to US carbon emissions reductions and renewable energy growth, ESGToday reported:

“Norway-based energy company Equinor and UK energy giant bp announced today the termination of an agreement with the New York State Energy Research and Development Authority (NYSERDA) for Empire Wind 2, one of the largest offshore wind projects in the U.S. with anticipated capacity of nearly 1.3 GW. According to a statement from the companies, the decision to end the agreement followed ‘changed economic circumstances,’ with higher inflation and interest rates, as well as supply chain disruptions preventing the Offshore Wind Renewable Energy Certificate (OREC) with the state from being viable.”

The site was to be located approximately 14 miles offshore Long Island at its closest point. Last November, I wrote about the crippling business environment faced by renewable energy project at the moment. That isn’t showing signs of slowing. Of course, this also causes headaches for companies expecting to benefit from these projects for their own carbon footprint. If your company is in the area expected to be served by Empire Wind 2, I hope you have a Plan B.

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The Editor

Lawrence Heim has been practicing in the field of ESG management for almost 40 years. He began his career as a legal assistant in the Environmental Practice of Vinson & Elkins working for a partner who is nationally recognized and an adjunct professor of environmental law at the University of Texas Law School. He moved into technical environmental consulting with ENSR Consulting & Engineering at the height of environmental regulatory development, working across a range of disciplines. He was one… View Profile