CCBJ Publishes Akin Gump Article on ESG Developments
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Corporate Counsel Business Journal has published the article “Recent ESG Developments Affecting The Energy Industry,” written by Akin Gump corporate partners Kerry Berchem; Cynthia Mabry; Jeffrey Kochian, who heads the practice; consultant Kenneth Markowitz; and counsel Kevin Schott. The article, adapted from an Akin Gump client alert, discusses a series of significant events that could have long-lasting impacts on the energy industry and may accelerate responses to environmental, social and governance (ESG) issues.
The authors begin by outlining the three major events: (i) Engine No. 1’s election to three seats on Exxon’s board of directors; (ii) Chevron shareholders’ approval of a resolution to cut end-user emissions; and (iii) a Dutch court’s finding that Shell has significantly contributed to climate change and ordering the energy company to cut its carbon emissions by 45 percent by 2030.
The article concludes that these developments could have significant impacts in major areas around the globe. In the United States, for example, the authors note, “the impact of these developments, taken together with recent pronouncements by the U.S. Securities and Exchange Commission (SEC) and others, suggests that companies across a wide array of industries need to continue focusing on ESG issues, particularly in areas relating to climate change.”
To read the article in its entirety, please click here.
