Navigating the New ESG Landscape: Key Regulatory Shifts, Sustainability Strategies, and Global Compliance Trends
- Joyce Kristiansson
- Sep 30
- 7 min read
Updated: Oct 16
ENVIRONMENTAL
FAQs and Factsheet | California Air Resources Board
September 30, 2025
The California Air Resources Board (CARB) released a list of more than 4,000 companies that will be required to comply with the state’s new climate reporting laws, mandating disclosures on climate-related risks and opportunities, and for some companies on value chain greenhouse gas emissions as well.
Regulatory Climate Shift: Updates on the SEC Climate-Related Disclosure Rules
September 30, 2025
In March 2024, the Securities and Exchange Commission (the “SEC” or the “Commission”) adopted rules entitled The Enhancement and Standardization of Climate-Related Disclosures for Investors (the “Rules”), intended to standardize how public companies report material climate-related risks and greenhouse gas emissions. However, the Rules were almost immediately the subject of litigation, which was subsequently consolidated in the U.S. Court of Appeals for the Eighth Circuit (the “Eighth Circuit”), and, since April 2024, the Rules have been subject to a voluntary stay pending judicial review.
EPA Initiates "Take 3" on the Toxic Substances Control Act Risk Evaluation Framework Rule
September 26, 2025
The U.S. Environmental Protection Agency (EPA) published a Notice of Proposed Rulemaking (Proposed Rule) on Sept. 23, 2025, to amend the 2024 Toxic Substances Control Act (TSCA) Risk Evaluation Framework Rule (Framework Rule), a foundational rule that governs the agency's process for evaluating risks of existing chemical substances. Public comments on the Proposed Rule are being accepted until Nov. 7, 2025.
The Proposed Rule seeks to reverse several policies codified in the Biden-era 2024 Framework Rule, reinstating approaches from the first Trump EPA 2017 Framework Rule, including requiring risk determinations for each condition of use, removing requirements to evaluate all conditions of use or exposure pathways, and changes to how personal protective equipment (PPE) is considered.
The Framework Rule is expected to be finalized in 2026. Given the different interpretations and industry perspectives over the scope of the Framework Rule, it is anticipated the litigation over the scope of the rule will follow.
Source: Holland & Knight
EPA Seeks Public Comments on Reconsideration of Greenhouse Gas Reporting Program
September 24, 2025
The U.S. Environmental Protection Agency (EPA) is soliciting public comments on its proposal to eliminate a substantial portion of the Greenhouse Gas Reporting Program and suspend reporting requirements (for the remainder of the program) until 2034.
The proposal is in response to President Donald Trump's Executive Orders 14154, "Unleashing American Energy," and 14192, "Unleashing Prosperity Through Deregulation," as well as a continuation of the EPA's deregulatory initiative.
Interested parties and stakeholders have an opportunity to engage in the public comment period, which ends on Nov. 3, 2025.
Source: Holland & Knight
GHG Protocol Announces ISO Partnership to Develop Unified Carbon Accounting Standards
September 19, 2025
On September 9, 2025, the GHG Protocol and International Organization for Standardization announced a new strategic partnership to harmonize and co‑develop GHG accounting standards. This announcement raises the stakes for the GHG Protocol’s ongoing update process, which promises significant changes to its existing suite of corporate standards and guidance.
Source: Beveridge & Diamond PC
EPA Clarifies its Interpretation of What Constitutes “Begin Actual Construction” in New Guidance, Plans Rulemaking for 2026
September 19, 2025
EPA recently issued new guidance that clarifies its interpretation of "begin actual construction" under the Clean Air Act’s New Source Review (NSR) preconstruction permitting program. Through this guidance and the associated press release issued last week, EPA is allowing building activities that are not related to air emissions, such as installing cement pads, to proceed before companies obtain an NSR permit.
Source: Beveridge & Diamond PC
EPA Proposes Rollback of Greenhouse Gas Reporting Program
September 17, 2025
EPA is proposing to remove the greenhouse gas reporting obligations (40 CFR 98) for all source categories, except Petroleum and Natural Gas Systems (40 CFR 98, Subpart W). Within the Petroleum and Natural Gas Systems source category, EPA is proposing to remove the Natural Gas Distribution segment and postpone reporting for the remaining segments until 2034. EPA is also proposing to extend the 2025 reporting year deadline from March 31, 2026 to June 10, 2026 to give the agency time to finalize the other amendments and prevent the submission of data that would no longer be required.
Sources: EPA
RCRA Update: Latest on Generator Improvements Adoption
September 16, 2025
New Hampshire has adopted the Generator Improvements Rule, effective August 1, 2025. Revised regulations include new, more stringent requirements as well as new reliefs. Generators in the New Hampshire must abide by all State hazardous waste management requirements as well, including new state-specific rules that demand more than the Federal regulations.
Source: Lion
Proposed EPA Rule Could Threaten US CCS Tax Credits
September 15, 2025
The US Environmental Protection Agency’s (EPA) proposal to freeze or eliminate some of the 15-year-old emissions reporting requirements for industry could functionally cripple the US Treasury Department's ability to implement its “45Q” tax credit for carbon capture and storage (CCS), according to analysts and observers.
If finalized, the EPA's plan to repeal most of its Greenhouse Gas Reporting Program (GHGRP), issued late Friday, would eliminate the reporting pathways that Treasury uses to substantiate “secure geologic storage” under current guidance — leaving no real mechanism to verify emissions savings underpinning the tax credits.
Source: Energy Intelligence
US Appeals Court Hits Pause on Challenges to SEC Climate Rule
September 13, 2025
A federal appeals court on Friday said it was pausing its consideration of legal challenges against the U.S. Securities and Exchange Commission's climate regulations until the Wall Street regulator decides whether it plans either to change them or to defend them in court, court papers showed.
Under former President Joe Biden, the SEC adopted rules requiring publicly traded companies to tell investors about climate-related risks, emissions and spending, with Republican-led states and one industry group immediately challenging this in court. Under Republican President Donald Trump, the SEC voted in March to cease defending the rule.
Source: Reuters
The EPA Wants to End a Requirement That Large Polluters Report Their Greenhouse Gas Emissions
September 13, 2025
The Environmental Protection Agency on Friday proposed doing away with a program that has required large, mostly industrial polluters to report their planet-warming greenhouse gas emissions to the government.
The program requires refineries, power plants, oil wells and landfills to report their emissions without risk of penalty as officials se ek to identify high-polluting facilities and develop policies to lower emissions of carbon dioxide and other greenhouse gases. Experts say the reporting held the companies publicly accountable for their emissions.
Since the program began in 2009, U.S. industry has collectively reported a 20% drop in carbon emissions, mostly driven by the closure of coal-fired power plants.
Source: The Associated Press
EPA: 5-Copy Hazardous Waste Manifest Form OK to Use Until Further Notice
September 12, 2025
In updated guidance posted on September 10, 2025, EPA states that the agency will continue to accept the 5-copy hazardous waste manifest form “until further notice.” The 5-copy manifest form was set to become obsolete on December 1, 2025, when EPA’s “third rule” concerning e-Manifests enters full effect. Some provisions of this rule have been in effect since January of this year.
Per the updated EPA guidance, stakeholders can expect 90 days advance notice before EPA will stop accepting the “old” 5-copy paper manifest form.
Source: Lion
Best Practices for Corporate Sustainability Teams
September 6, 2025
This report—based on a survey of 70 corporate sustainability and environmental, social & governance (ESG) leaders at US and multinational firms—examines and shares best practices on how companies structure and position their sustainability teams, how they interact with other business functions, and how those choices shape overall efficiency and effectiveness.
Ongoing Legal Battle Over California’s Climate-Related Disclosure Laws
September 1, 2025
The Chamber of Commerce and five co-Plaintiffs sought a preliminary injunction to halt California’s landmark climate reporting laws on three separate grounds: (i) the laws violate the First Amendment, (ii) the Constitution and federal law preempt SB 253 and SB 261 and (iii) the two laws violate the dormant Commerce Clause of the U.S. Constitution. As we discussed here, in February 2025 the district court granted a motion to dismiss in part filed by CARB with respect to the latter two claims. Plaintiffs then filed a motion for a Preliminary Injunction on First Amendment grounds. Specifically, Plaintiffs alleged that the laws are not tailored to the interests of investors because they are not limited to companies seeking investments; absent a preliminary injunction, Plaintiffs claim they will suffer irreparable harm as they will be compelled to speak on the “controversial issue” of climate change.
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SOCIAL
DOT Proposes Changes to Transportation Workplace Drug and Alcohol Testing Program
September 3, 2025
DOT is proposing to amend its regulation for transportation workplace drug and alcohol testing procedures to add the drugs fentanyl and norfentanyl to the drug testing panel. Also, DOT is proposing to make additional changes to conform its regulation with the Department of Health and Human Services Mandatory Guidelines for Federal Workplace Drug Testing Programs.
Source: EPA
GOVERNANCE
US and EU Agree on Trade Framework Agreement – Implications for ESG/CSR Compliance
September 7, 2025
On August 21, the US and EU announced that they have agreed on a Framework on an Agreement on Reciprocal, Fair, and Balanced Trade. The Framework Agreement expands upon earlier official statements on the US-EU trade deal and is intended as a first step in a process to improve market access and increase the US-EU trade and investment relationship.
Although not the principal focus of the Framework Agreement, 4 of its 19 key terms relate specifically to EU ESG/CSR-related compliance requirements. This post discusses these key terms and how they may impact EU compliance requirements of US-based multinationals.
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