This week’s round-up examines rising mortgage rates and their effect on the housing market, the long-term impact of the Inflation Reduction Act on commercial real estate, a potential U.S. railroad strike, and more.
Proposed Rule to Designate Two PFAS Chemicals as Hazardous Substances Stands to Up the Ante for Site Remediation
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On Friday, August 26, 2022, the U.S. Environmental Protection Agency (EPA) released a pre-publication notice of a long-awaited proposed rule to designate two of the most-studied per- and polyfluoroalkyl substances (PFAS)—perfluorooctanoic acid (PFOA) and perfluorooctanesulfonic acid (PFOS)—as hazardous substances under the Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA). In an accompanying statement, EPA indicated that the proposed rule will be published in the Federal Register within the next few weeks. That publication will commence a 60-day public comment period, and EPA appears to be targeting final rule promulgation by Summer 2023. The addition of PFOA and PFOS to the hazardous substances list may significantly expand CERCLA liability, thus increasing the number of responsible parties, expanding investigatory costs and duration, remediation, and where applicable, natural resource damages liability.
Click here to read the full client alert from Pillsbury’s Reza Zarghamee, Amanda Halter, Mark Plumer, and Ashleigh Myers
Real Estate & Construction News Round-Up (09/07/22) – Futuristic Cities, Shifting Housing Demand, and Rent Control
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This week’s round-up addresses the shift in housing demand, efforts of apartment complexes to become more eco-friendly, plans for “cities of the future,” and more.
Real Estate & Construction News Round-Up (08/31/22) – Proptech, Web3, and Non-Fungible Tokens (NFTs)
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This week’s round-up dives into the digitization of the real estate and construction industry, focusing on property technology, Web3 and non-fungible tokens (NFTs), and more.
Green Hydrogen in the Suez Canal Economic Zone
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As green hydrogen production becomes a global endeavor, many countries are vying to become hubs for the production of clean-burning fuel. Among them, Egypt has signed a number of agreements over the last year with international companies to establish green hydrogen production facilities in its Suez Canal Economic Zone (SCZone), a self-sustaining industrial development corridor established in 2016 that consisting of 461 square kilometers and six maritime ports with the stated goal of “transforming the region from a traditional oil and gas shipping route into the world’s longest ‘green’ canal.”
Real Estate & Construction News Round-Up (08/24/22) – Local Law 97, Clean Energy, and IRA Tax Credits
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This week’s round-up features the intersection of real estate and energy efficiency, including state efforts surrounding clean energy legislation, Inflation Reduction Act tax credits, hotel & hospitality sectors creating sustainable initiatives to reduce carbon emissions, and more.
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Real Estate & Construction News Round-Up (08/17/22) – Glass Ceilings, Floating Homes and the Inflation Reduction Act
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This week’s round-up features the construction industry’s latest happenings: the Inflation Reduction Act, women shattering the glass ceiling, eco-friendly floating homes, and more.
Real Estate & Construction News Round-Up (08/10/22)
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The Senate passes the Inflation Reduction Act, construction costs continue to rise across the U.S., commercial real estate advances the adoption of ESG strategies, and more.
The Administrative Procedure Act and the Evolution of Environmental Law
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Enacted in 1946, the Administrative Procedure Act (APA) has provided a lasting framework for federal agency rulemaking and adjudication, as well as establishing the power of the federal courts to exercise judicial review over these actions of the federal bureaucracy. The APA is codified at 5 U.S.C. §§ 551–559, and §§ 701-706. There have been very few amendments made to the APA over these years, which indicates that Congress is reasonably satisfied with its administration and implementation.
Critical Materials for the Energy Transition: Of “Rare Earths” and Even Rarer Minerals
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As the world pursues ambitious net-zero carbon emission goals, demand is soaring for the critical materials required for the technologies leading the energy transition. Lithium may be the most well-known of these inputs due to its usage in batteries for vehicles and consumer electronics, but roughly 50 other minerals are central to energy transition technologies. During the coming years, producers, manufacturers and end-users will be increasingly exposed to the roles played by “rare earth” elements (roughly, atomic numbers 57 to 71), platinum group metals, and other materials.