The Value of Sustainability and More....
- Joyce Kristiansson
- Jul 30
- 5 min read
ENVIRONMENTAL
EU Commission Adopts Sustainability Reporting Standard for Small Companies
July 30, 2025
The European Commission announced today the adoption of the voluntary standard for SMEs (VSME), a new sustainability reporting standard aimed at enabling micro-, small- and medium-sized companies to report on ESG issues in a simplified and consistent way and to respond to requests for sustainability information from financial institutions and large companies.
While the VSME was initially developed to provide a voluntary reporting standard for smaller businesses not covered by the EU’s Corporate Sustainability Reporting Directive (CSRD), the new standard may be relevant to a much broader set of companies, due to the Commission’s Omnibus initiative to dramatically reduce the number of companies within the scope of the CSRD.
Source: ESG Today
Treating Hazardous Waste Without a Permit, Legally
July 23, 2025
For hazardous waste, the term “treatment” covers obvious means of treatment: neutralizing corrosive materials, burning for fuel, and reclaiming heavy metals out of industrial sludges. But it also includes things like letting half-full cans of paint dry or using a filter to separate suspended solids from wastewaters.
In most cases, you must have a permit from the U.S. or State EPA before treating hazardous waste, but there are a few exceptions. RCRA regulations authorize generators of hazardous waste to undertake several waste treatment activities without having to apply for a permit. However, there are limitations to this allowance.
Source: Lion
88% of Companies See Sustainability as a Value-Creation Opportunity: Morgan Stanley Survey
July 21, 2025
Nearly nine out of ten companies view sustainability as a value creation opportunity, expected to drive benefits including higher profitability, revenue growth and improved cost of capital, according to a new survey released by Morgan Stanley, which also found that more than half of companies experienced impacts from climate-related events over the past year, which increased costs, disrupted workforces, and reduced revenue.
The survey also indicated that companies are becoming more confident in their sustainability progress, with 65% of executives describing their companies’ sustainability strategy as meeting or exceeding expectations, up from just 59% last year.
Source: ESG Today
California Climate Accountability: Getting Started on SB 253 and SB 261 Reporting
July 15, 2025
Key Takeaways:
Emissions Disclosure: SB 253 requires companies in scope to annually disclose scope 1 and 2 GHG Emissions (Scope 3 starting 2027)
Financial Risks: SB 261 requires companies to report biannually on climate-related financial risks
Future Guidance: CARB will develop guidance around the climate acts, but these will likely not be finalized until late 2025.
Getting Ready for Emissions Reporting: Companies can begin developing disclosures aligned with SB 253 requirements using available guidance and standards.
Framework Clarity: SB 261 is informed by the TCFD and IFRS S2 frameworks. Companies can proactively address the regulation by aligning their reporting with these standards, as CARB continues to finalize specific requirements.
The January 2026 reporting deadline for The California Climate Accountability Package (CCAP), which requires companies to report their greenhouse gas emissions and climate risk exposure, is closing in. Yet, there are still uncertainties about exactly what companies are expected to report on. Despite lacking guidance from the California Air Resource Board (CARB), there is sufficient information for companies in scope of the regulations to start preparing disclosures.
Early preparation will make the process more comfortable for first time reporters and leave room to anchor strategic decisions within the organization.
Climate and Carbon Litigation Trends
July 7, 2025
Litigation involving climate-related claims and initiatives remains a source of exposure for companies across all sectors. As the Trump administration reshuffles federal priorities, we expect that consumer litigation and “blue state” attorney general (AG) enforcement may intensify to promote integrity around climate claims in the face of federal animosity toward climate mitigation, while the focus of shareholder derivative actions may shift to discourage climate disclosures following the death of the SEC climate disclosure rules. This document provides a brief overview of recent litigation trends in this space and key takeaways for companies navigating and seeking to mitigate risk in this rapidly evolving landscape.
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SOCIAL
US Department of Labor Launches Self-Audit Programs to Help Regulated Community Strengthen Compliance with Federal Labor Laws
July 24, 2025
The self-audit programs, which include new and updated offerings, aim to enhance worker protections while reducing the likelihood of formal investigation or litigation.
"Self-audits are one of the most effective ways to build a culture of compliance and trust," said Deputy Secretary of Labor Keith Sonderling. "These programs are designed to give employers, unions, and benefit plan officials the tools they need to correct potential violations proactively. By empowering the regulated community with clarity and collaboration, we are continuing to fulfill the Department of Labor's mission to put both workers and employers first."
Source: OSHA
OSHA Proposes Significant Deregulation, Eliminating Many Regulatory Requirements
July 2, 2025
On July 1, 2025, the Occupational Safety and Health Administration (OSHA) announced a comprehensive deregulatory initiative, proposing to eliminate or revise numerous workplace safety and health regulations deemed outdated, duplicative, or unnecessarily inflexible. The proposals are likely in response to the April Request for Information soliciting ideas for deregulation issued by the Office of Management and Budget and reflect the Trump Administration’s ongoing focus on regulatory streamlining.
Source: Reed Smith
GOVERNANCE
ESG Mid-Year Update: Who Still Cares, and Why You Should
July 29, 2025
At the midpoint of 2025, the ESG landscape continues to evolve amid rising political rhetoric and regulatory change. While some believe that ESG is losing momentum, the reality is that the business case for ESG remains strong. This is driven by three critical stakeholder groups — investors, regulators and issue-focused parties — who maintain significant influence and should not be underestimated as the space continues to evolve.
Trump Signs the One Big Beautiful Bill Act
July 3, 2025
The One Big Beautiful Bill Act was passed by the U.S. House of Representatives through a dramatic 218-214 vote on July 3, 2025. When signed into law by President Donald Trump, the legislation will deliver more than $1.5 trillion in deficit reduction and reshape federal policy across nearly every major sector of the American economy.
This alert, authored by Holland & Knight's Public Policy & Regulation Group, provides detailed analysis for organizations navigating these changes. The goal is to equip you with actionable insights that will help position your organization to respond effectively to this transformative legislation as it moves toward implementation.
Source: Holland & Knight
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