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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

State climate efforts are facing an uphill battle. With the federal government abdicating on climate issues, various states are looking to tackle the crisis. The most promising efforts are happening in the courts, where plaintiffs are suing heavy emitters for damages caused by climate change. There are also state laws attempting to impose liability. New York and Vermont both passed climate change superfund laws. These laws seek to hold heavy emitters financially responsible for climate change. Shortly after its passage, New York’s Climate Change Superfund Act was challenged in court. Proceedings have now concluded at the district court level, which ruled against the state. The court relied on precedent set by the Second Circuit in 2021 barring state climate tort suits. A recent Hodgson Russ memo gives details:

“Chief Judge Brenda K. Sannes concluded that the Climate Change Superfund Act is materially indistinguishable from the state-law climate damages claims rejected in City of New York. There, the Second Circuit held that claims seeking compensation for harms caused by global greenhouse gas emissions implicated uniquely federal interests, including the need for uniform national energy and environmental policy and basic principles of federalism.”

The court’s analysis leans heavily on the 2021 appeals court ruling. This likely leaves the future of New York’s Climate Change Superfund Act in the hands of the Supreme Court. This fall, the Supreme Court will hear oral arguments in Suncor Energy (U.S.A.) v. Commissioners of Boulder County. That case is expected to resolve the constitutionality of state climate tort cases. The Second Circuit may revisit it’s 2021 decision if the Supreme Court allows state tort suits. Such a decision would undermine the basis of the district court’s opinion and may revive New York’s Climate Change Superfund Act. However, at this juncture, it appears unlikely SCOTUS will rule in favor of climate suits.

Our members can learn more about ESG litigation here.

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The Editor

Zachary Barlow is a licensed attorney. He earned his JD from the University of Mississippi and has a bachelor’s in Public Policy Leadership. He practiced law at a mid-size firm and handled a wide variety of cases. During this time he assisted in overseeing compliance of a public entity and litigated contract disputes, gaining experience both in and outside of the courtroom. Zachary currently assists the PracticalESG.com editorial team by providing research and creating content on a spectrum of ESG… View Profile