ESG Litigation in the US – Disclosures and Risks

In our latest episode, we discuss the rising expectations for corporate oversight and what that means for directors and officers in an increasingly complex regulatory and litigation environment. Corporate directors today face scrutiny from regulators, plaintiffs' firms, proxy advisors, investors and shareholder activists. That scrutiny is translating into increased litigation risk, regulatory interventions and targeted campaigns—and, increasingly, personal exposure for directors and officers. We're seeing expanded theories of individual liability tied to compliance failures, cyber incidents, AI governance gaps, inconsistent disclosures and greenwashing. And with enforcement-first approaches from regulators like the SEC, as well as active state attorneys general and private plaintiffs, the stakes continue to rise. Oversight expectations now span AI governance, climate transition planning, cybersecurity and ESG disclosures, making the role of the board more complex than ever. To help us unpack all of this, we're joined by two terrific colleagues—Jim Deeken, a partner in Akin's Dallas office who advises private fund managers and regularly speaks and writes on corporate governance and regulatory issues, and Stephanie Lindemuth, a partner in the New York office, focused on complex commercial litigation including securities, derivative suits and ESG-related disputes. Let's dive in. 

In this latest episode of the firm's Accelerate ESG series, Akin environmental, social & governance, or ESG, group co-leaders Amy Kennedy and Stacey Mitchell discuss the firm's recently issued 2023 ESG Survey of noteworthy trends and developments in that field, as well as the ESG environment on both sides of the Atlantic. Topics include: ·         The growing politicization of ESG. ·         Challenges facing DEI efforts. ·         The difference between greenwashing and green-hushing. ·         ESG and tax considerations. Search for "ESG" at akingump.com to learn more.

In this second in a three-part series for Accelerate ESG, Akin Gump climate change group co-leader Ken Markowitz leads a conversation with ESG and climate change groups co-leader Stacey Mitchell and litigation partner Stephanie Lindemuth on the legal challenges that may arise in response to the Securities and Exchange Commission's (SEC) proposed amendments requiring public companies to provide climate-related information in their registration statements and annual reports. Topics include: ·         Where is the SEC vulnerable to legal attack? ·         What are the limits to the SEC's statutory authority? ·         What is the significance of the U.S. Supreme Court decision in West Virginia v. EPA? Search for "ESG" at akingump.com.

This new episode of Accelerate ESG is part one of a two-parter, as Akin Gump ESG and climate change groups co-leader Stacey Mitchell and climate change group co-leaders Cynthia Mabry and Ken Markowitz discuss the Securities and Exchange Commission's proposed amendments requiring public companies to provide climate-related information in their registration statements and annual reports. Topics include: What stakeholders need to know. Key issues of concern for public and private companies. The SEC proposal in a global context. Practical steps for companies to consider. Search for "ESG" at akingump.com.

In this new episode of Accelerate ESG, Akin Gump litigation partner Jacqueline Yecies and counsel Stephanie Lindemuth discuss litigation related to environmental, social and governance (ESG) matters in the United States. Topics include: The sources of ESG-related litigation risk. The Securities Exchange Act and ESG. Noteworthy cases of ESG-related securities litigation. ESG disclosures, the SEC and regulatory concerns. The legislative outlook for ESG disclosure. Search for "ESG" at akingump.com.

Accelerate ESG debuts with Akin Gump partners Stacey Mitchell, Ken Markowitz and Naboth van den Broek reviewing the recent UN Climate Change Conference, which Ken and Naboth attended, to offer listeners insights into the conference's achievements and next steps. Topics include: ·         The intersection of climate and nature preservation. ·         The private sector's involvement at COP26. ·         Carbon border adjustment in the climate policy context. ·         Implementing Article 6 of the Paris Agreement. Learn more at akingump.com.