Recently, the U.S. Senate and House agreed to and passed the CHIPS Plus legislative package, which will provide $52.7 billion dollars in federal funding for U.S. Government agencies to distribute to U.S. semiconductor manufacturers to build new plants, increase manufacturing capacity, and support research and development.
Click here to read the full article from Pillsbury’s Elizabeth Vella Moeller, Nancy Fischer, Gurpreet Bal, Aimee Ghosh, and Johnna Purcell.
Europe’s energy infrastructure struggles under record heat waves, Wall Street tightens commercial real estate lending, blockchain technology and NFTs (non-fungible tokens) continue to transform real estate ownership, and more.
The U.S. Department of Energy (DOE) turns its focus to clean hydrogen hubs, key real estate players announce a new round of layoffs, Local Law 97 faces pushback in New York, and more.
Our mid-year roundup highlights the top-read Gravel2Gavel posts from 2022 so far. Our authors provided deep industry insights and summarized hot topics that addressed various legal implications and disruptions that affected the market, ranging from topics like investing in real estate metaverse to the clean hydrogen transition.
Pillsbury Litigation partner and former federal prosecutor Kimberly Jaimez was featured in the GlobeSt.com article, SEC Ready To Clamp Down On ESG Investment Claims, offering insight on the increased awareness of environmental, social and governance (ESG) concerns in commercial real estate. With ESG now being viewed by most CRE investors as a top priority in business operations, a new source of risk has resulted: increased SEC scrutiny over overinflated or otherwise false ESG claims. This could mean CRE investment funds, REITs, and other real estate entities will have to increase compliance vetting on marketing and communications. Jaimez presented the following comments:
Cybersecurity becomes an increasing concern when buying digital land, a significant property tax break in New York is set to expire, climate disclosure mandates in commercial real estate are on the horizon, and more.
Clean hydrogen has the potential to play a significant role in the energy transition by serving as a carbon-free form of energy storage and heat production. In real estate, hydrogen could provide heating, replace or supplement natural gas in many applications, or store excess rooftop solar power. The United Kingdom, United States and Japan are all homes to pilot projects attempting to scale out hydrogen for use in communities.
Though ESG has been around for a while, with roots that extend back to the environmental sustainability movement, the script for current ESG litigation and investigations is still being written. ESG efforts have expanded to include diversity within companies and an increased focus on compliance and governance within organizations. Regulatory oversight, especially from the SEC, has swiftly come to the fore to monitor those compliance efforts. As with many areas where the precise regulatory and enforcement regime is still coming into focus, it is crucial to recognize the importance of being both proactive and pragmatic.
Pillsbury colleagues Elina Teplinsky, Jorge Medina, Sidney Fowler, and Ashley Meredith discuss the U.S. Department of Energy’s (DOE) announcement of the release of a Notice of Intent (NOI) and Request for Information (RFI) describing and seeking feedback on its plan to implement the $6 billion Civil Nuclear Credit (CNC) Program that is part of the Bipartisan Infrastructure Law (BIL).
Construction contractors adjust to extreme changes in material prices, China expands real estate lending support to its larger cities, semiconductor demand becomes a gem for industrial real estate, and more.
Gravel2Gavel Construction & Real Estate Law Blog