Articles Posted in Climate Change

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CARB-logo-300x225The California Air Resources Board (CARB) released a preliminary list of companies it believes may be subject to the state’s new climate disclosure regime, which imposes significant disclosure duties on large United States entities “doing business in California”—even if the business they do in California is not itself large. CARB’s list comes after a federal trial court declined to stay the rules, with the first compliance deadline set to go into effect January 2026 even as the agency’s implementing regulations remain under development.

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Coalitions of Republican-led states, industry associations led by the U.S. Chamber of Commerce, and, most recently, the U.S. Department of Justice are testing “climate superfund” laws that aim to recover billions from carbon majors for climate adaptation costs. Recent rulings in lawsuits challenging the New York and Vermont statutes have split cases across courts and reached opposite outcomes on intervention: In New York, cases are being split between the Northern and Southern Districts and intervention efforts by nonprofits have been blocked, while in Vermont, the district court has allowed environmental organizations to join the defense of the statutes in two cases.

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Even as the Trump administration moves to block state and local climate liability efforts, states and municipalities continue to advance lawsuits seeking to hold fossil fuel companies liable for harms associated with climate change. Most recently, the State of Hawaii initiated a climate deception lawsuit, and the City of Charleston, South Carolina, submitted a briefing in a pending case—each alleging that the fossil fuel industry engaged in a decades-long campaign to mislead the public about the risks of fossil fuel consumption and climate change. Both developments come as the Trump administration escalates its opposition to such suits, issuing on April 8 an executive order (EO), Protecting American Energy From State Overreach, targeting and filing lawsuits making constitutional challenges to state-led climate litigation and legislative actions—including a preemptive action against Hawaii just days before the state’s filing.

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As the Securities and Exchange Commission (SEC) steps back from defending its March 2024 Climate Disclosure Rule, companies face growing uncertainty in navigating an increasingly fragmented and uncertain landscape of state and international mandates—with no uniform standards in sight. This development signals a broader shift under the Trump administration, which has prioritized deregulation, withdrawn support for federal disclosure mandates, and signaled opposition toward state-level requirements. The resulting regulatory divide leaves companies with a patchwork of emerging rules and limited guidance on how to harmonize compliance across jurisdictions.

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The U.S. Department of Justice (DOJ) has filed a series of federal lawsuits against four states—New York, Vermont, Michigan and Hawaii—alleging that recent legislative and enforcement efforts to hold fossil fuel companies financially responsible for climate change unlawfully interfere with federal authority. The lawsuits, filed on April 30 and May 1, challenge two distinct forms of state-led climate action: (1) enacted climate superfund statutes in New York and Vermont, and (2) announced plans by Michigan and Hawaii to bring climate change litigation against fossil fuel companies under state tort law.

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In this week’s roundup, we consider distressed property bonds and loans, cities that are sinking under their own skyscrapers, efforts to lower carbon emissions, the unexpected potential of dirty diapers as a building material, and so much more.

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In today’s roundup, Americans can buy homes with bitcoin, new tech aims to engineer a novel building material, federal investments boost the coastline (and construction sales), and more.

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Phishing schemes target the mortgage industry, housing prices rise in Europe as Ukrainian refugees flee from their home country, the SEC announces new climate change regulations that will impact commercial real estate, and more.

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Economic sanctions placed on Russia cause a shift in the U.S. real estate market, investments in virtual real estate continue to grow as market equilibrium returns, climate change concerns have made a notable impact on regional real estate interest, and more.

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