
31 October 2025 • 33 minute read
Horizon – News and Trends in Sustainability Law
October 2025
In this issue
Click each topic to jump to that section.
- Deadline alert
- COP30 updates
- Disclosures and voluntary reporting
- Greenwashing
- Sustainability: Regulatory
- Sustainability: Litigation
- Supply chain integrity
- Energy and natural resources
- Sustainability in financial services
- Sustainability in the marketplace
- Calendar – key reporting deadlines, coming events
Deadline alert
- California: Under SB 54, the Plastic Pollution Prevention and Packaging Producer Responsibility Act, November 15, 2025 is the deadline to report data to the Circular Action Alliance for covered material sold/distributed in California in 2023.
- European Union: The application deadline for large companies under the EU Deforestation Regulation (EUDR) is December 30, 2025.
- California: Under SB 261, the Climate-Related Financial Risk Act, covered entities are required to post their first biennial climate-related financial risk report to CARB’s public docket by January 1, 2026. For SB 253, the Climate Corporate Data Accountability Act, June 30, 2026 has been proposed as the initial deadline for Scope 1 and 2 reporting.
- Australia: Group 1 companies must comply with the new Australian sustainability reporting rules in their 2025 FY annual reports, which for most are due in Q1 2026.
Please also see our sustainability calendar for information about key reporting deadlines around the world.

COP30 updates
The 30th United Nations Climate Change Conference (COP30) takes place from November 10 to 21 in Belém, Brazil.
- Senators John Curtis (R-UT) and Chris Coons (D-DE) reportedly will co-lead a US congressional delegation to COP30, the United Nations Climate Change Conference taking place next month in Belém, Brazil. At least three other Senate Republicans have expressed interest in joining the delegation. It remains uncertain whether the US government will send a formal delegation, and the government shutdown could create additional complications. A number of media outlets are observing that even a small or nonexistent US presence could shape COP30 negotiations.
- Following weeks of speculation, Sir Keir Starmer, Prime Minister of the United Kingdom, has announced he will attend COP30. A spokesperson for Starmer stated that his attendance reaffirms his commitment to the UK’s climate targets and called the energy transition “the economic opportunity of the 21st century, one that has the potential to reignite our industrial heartlands.” In addition, Starmer will join William, Prince of Wales, in Rio de Janeiro at the ceremony announcing the 2025 Earthshot Prize, a global environmental award founded by the Prince.
- The European Union (EU) will send a smaller delegation than usual to COP30 due to accommodation and logistical difficulties in Belém as well as uncertainty over US attendance. Some EU countries are still weighing whether their leaders will attend.
- That delegation will include the delegation from the European Parliament, led by Chair Lídia Pereira and Vice-Chair Mohammed Chahim, which has adopted a resolution urging that countries provide “adequate climate finance,” address debt crises for climate-vulnerable countries, and simplify climate finance procedures. The delegation is also calling for the EU to accelerate its phaseout of fossil-fuel subsidies and align with the Paris Accord’s 1.5°C target.
- Ahead of COP30, the European Council has issued a press release outlining its intended focus at the conference on climate finance, nature-based solutions, and industrial transition, emphasizing that corporate sectors must align with the forthcoming regulatory direction and calling for transparent disclosure and 1.5°C-consistent pathways.
- In addition, the European Commission and the EU’s High Representative for Foreign Affairs and Security Policy, Kaja Kallas, have released the “EU global climate and energy vision: securing Europe's competitive role in world markets and accelerating the clean transition,” the bloc’s updated climate strategy for 2025 to 2029. The business-oriented strategy, issued on October 16, seeks to unite the EU’s internal and external diplomatic agendas, strengthening the Green New Deal and the bloc’s domestic security through global climate action and explicitly linking support for the energy transition to a rules-based international order.
- But EU environment ministers have again postponed decisions on the EU’s 2035 and 2040 Nationally Determined Contributions (NDC) – the climate action goals that are the building blocks of the Paris Agreement – despite a Commission proposal for a 90-percent emissions cut by 2040 with limited use of international carbon credits. Member states remain split: Denmark and others want both targets adopted together to strengthen the EU’s COP30 stance, while France, Germany, Hungary, Italy, and Slovakia resist a high 2040 goal and seek more flexibility for industry. An extraordinary Environment Council is set for November 4 to continue this work. Key debates will include the role of carbon credits, interaction with the EU’s Emissions Trading System (ETS), and CO2 storage outside the EU.
- An open letter from the World Economic Forum’s Alliance of CEO Climate Leaders warns that “current global policies are setting the world on a 3°C trajectory” which “will disrupt food security, damage the financial resilience of businesses and governments, and endanger livelihoods, communities, healthcare systems and ecosystems.” Stating that “a wait-and-see approach is not viable,” the letter urges policymakers and businesses to work together to accelerate the transition to net zero. The Alliance represents $4 trillion in revenues and 12 million employees in 130+ companies; between 2019 and 2023, its members reduced their aggregate emissions by 12 percent while delivering revenue growth of 20 percent. Read the letter.
No sector on track to meet global climate goals, State of Climate Action 2025 finds. A new State of Climate Action 2025 assessment from the World Resources Institute published ahead of COP30 finds the world is off course on every one of 45 climate indicators needed to keep global warming to 1.5°C. Most metrics are improving, the assessment states, but “far too slowly.” To keep 1.5°C in reach, the report calls for a dramatic intensification of efforts in this decade – for instance, accelerating the phaseout of coal to ten times its current pace, reducing deforestation nine times faster, expanding rapid transit five times faster, and increasing climate finance by nearly $1 trillion annually. The assessment states that some signs of momentum – clean energy investment outpacing investment in fossil fuel projects and rapid gains in technologies like green hydrogen – show that progress is possible, but, without immediate, sustained acceleration across all sectors, the climate action gap will likely continue to widen. Download the report here.

Disclosures and voluntary reporting
California: CARB postpones rulemaking for SBs 253 and 261, but not the reporting deadlines. The California Air Resources Board (CARB announced on October 14 that it will postpone its initial Notice of Proposed Rulemaking for California’s landmark climate disclosure laws, SB 253 and SB 261, to Q1 2026. Of note: the delay does not change the initial reporting deadlines required under both measures. Disclosures under SB 261, Climate-Related Financial Risk, are still due on January 1, 2026. Scope 1 and 2 emissions reporting under SB 253, the Climate Corporate Data Accountability Act, still must draw on FY 2025 data. CARB stated that the delays in issuing the rulemaking arise from the “large volume of public comments” it received during its August workshop for stakeholders and that is also working to refine the Preliminary List of Reporting/Covered Entities released in September, which set out specific companies that may be subject to SB 261 and SB 253. Also on October 14, CARB released a more simplified draft reporting template for Scope 1 and 2 emissions reporting under SB 253. For the first reporting cycle, use of the template will be voluntary.
EU: Omnibus I in the news. The EU continues to work through Omnibus I, the set of proposed simplification measures that will streamline key reporting and compliance requirements of the bloc’s Green Deal: the Corporate Sustainability Reporting Directive (CSRD), Corporate Sustainability Due Diligence Directive (CSDDD), EU Green Taxonomy, and Carbon Border Adjustment Mechanism (CBAM). Here are the latest developments:
- On September 29, the European Council formally adopted simplifying changes to the Carbon Border Adjustment Mechanism (CBAM) that had been overwhelmingly approved by the European Parliament on September 10. As we reported last month, chief among the amendments is a new de minimis threshold under which imports of up to 50 metric tons per importer per year will not be subject to CBAM rules. This change effectively exempts 90 percent of importers from CBAM’s rules. Notably, the overarching climate ambition behind the mechanism remains unchanged: 99 percent of total CO2 emissions from imports of iron, steel, aluminum, cement, and fertilizers will still be covered by the CBAM.
- Last month, we reported that the European Commission was considering another 12-month postponement of the due diligence obligations in the EUDR. On October 21, the Commission released its proposed amendments to the EUDR which, notably, preserve the current due date, December 30, 2025, for large and medium-sized enterprises. The Commission is also proposing to allow such enterprises a six-month grace period. The proposed amendments include several other key changes. Upstream entities – those introducing a commodity into the bloc’s market – would still need to provide due diligence reports, but downstream entities – which leverage commodities already on the EU market – would not. To further lighten overall reporting requirements, micro and small primary operators from low-risk countries – which, the Commission stated, include most of the bloc’s foresters and farmers – would each need to submit just one simple declaration in the EUDR Information System. And micro and small operators would have until December 30, 2026 to comply, rather than the current due date of June 30, 2026. Next, before the amendments can be formally adopted, the European Parliament and Council must consider them. The Commission called for the amendments to be adopted by December 30, 2025.
- On October 22, the European Parliament rejected proposed amendments to due diligence and sustainability disclosure rules in the CSRD, CSDDD, and the EU Green Taxonomy. The rejected proposal was a compromise measure submitted to Parliament on October 13 by the EU’s Legal Affairs Committee (also called the JURI Committee) that would deeply slash the number of in-scope companies required to report. JURI’s proposal was defeated narrowly, 318 to 309, with 34 abstentions. Next, the Omnibus I initiative goes back to Parliament for renewed negotiations; a parliamentary vote on any new proposals is slated for November 13. Negotiations among the Commission, Parliament, and Council can only take place after Parliament finalizes its position.
- Going forward, in Q4 we may expect additional omnibus initiatives, not least a planned Environmental Omnibus which would affect the Waste Framework Directive, Net Zero Industry Act, and extended producer responsibility (EPR) rules.
US, Qatar express “deep concern” to EU leaders about CSDDD. US Energy Secretary Chris Wright and Qatari Minister of State for Energy Affairs Saad Sherida Al-Kaabi have sent a joint letter to the leaders of EU member states to express their “deep concern” about the impact of the CSDDD – in particular, “its unintended consequences for LNG [liquified natural gas] export competitiveness and the availability of reliable, affordable energy for EU consumers.” In the undated letter, Wright and Al-Kaabi state, “We have consistently and transparently communicated how the CSDDD, as it is worded today, poses a significant risk to the affordability and reliability of critical energy supplies for households and businesses across Europe and an existential threat to the future growth, competitiveness, and resilience of the EU’s industrial economy.” None of the proposed revisions to the CSDDD currently under consideration, they continue, has properly addressed their concerns. Wright and Al-Kaabi’s letter concludes with a call for EU leaders to “take immediate decisive action by reopening substantive dialogue with your global partners, including the United States and Qatar and the wider international business community.”
PwC Global Sustainability Reporting Survey: Pressure is rising to report on sustainability, but reporting brings value, too. A study from multinational accounting firm PwC concludes that, despite political uncertainties around climate-related due diligence, sustainability is increasingly important to a company’s performance. The inaugural Global Sustainability Reporting Survey asked 496 companies about their approach to reporting under such regimes as the CSRD or the International Sustainability Standards Board (ISSB). First, PwC found, despite likely postponements coming in the EU under the Omnibus I simplification initiative, 40 percent of respondents said they plan to hold to the original CSRD reporting schedule, even if the EU alters its compliance requirements. More largely, many reported to PwC that pressure from investors, governments, and the marketplace is prompting them to accelerate their disclosures of sustainability risks and opportunities. Furthermore, about 70 percent of respondents said that sustainability reporting brings their company moderate to significant benefits that extend beyond compliance, helping inform their strategic moves in such areas as risk management, the supply chain, and investments. The study concludes, “Changes of direction this year by regulators have, without a doubt, slowed the momentum towards statutory sustainability reporting. But the overall trend to increase reporting remains unchanged.” Read PwC’s Global Sustainability Reporting Survey here.

Greenwashing
District court approves Rust-Oleum greenwashing settlement. The US District Court for the Northern District of California finally approved a $1.5 million settlement to a class of Rust-Oleum consumers who charged that the company’s "non-toxic" and "Earth Friendly" claims for its Krud Kutter cleaning products over an approximately 10-year period were false and misleading. The court’s order, issued on October 2, requires Rust-Oleum to remove “non-toxic” claims from its products’ labels and “add an asterisk to the 'Earth Friendly' representation on the products' front labels to direct consumers to the back label where it will state: 'Contains no inorganic phosphates, hazardous solvents, or environmentally harmful surfactants,' or similar qualifying language.” In addition to the payment to the class, the court also awarded class counsel $500,000 in fees and over $280,000 in costs. The case, brought in 2020, alleged that Rust-Oleum’s stain remover and degreaser products included potentially harmful chemicals like alcohol ethoxylates and sodium metasilicate and asserted violations of California consumer protection statutes, such as false advertising statutes, as well as the Consumer Legal Remedies Act. The parties reached the settlement after the court denied Rust-Oleum’s motion for summary judgment and granted plaintiffs’ motion for class certification. With the settlement, Rust-Oleum does not admit liability or wrongdoing.
Company charges that a competitor is greenwashing a product line. Moldex-Metric, a manufacturer of respiratory and hearing protection products, has sued competitor Protective Industrial Products, charging that Protective’s claims about the environmental benefits of its BioSoft earplugs are “a calculated ‘greenwashing’ scheme to capture market share” via “unqualified environmental benefit claims.” In its complaint, Moldex lists a number of Protective’s marketing statements about the products, among them that they are eco-friendly, “decompose 76% in 180 days,” and are the world’s first sustainable bio-based ear plug. Moldex next stated that, in seeking to confirm Protective’s claims, its numerous requests – first, that Protective substantiate its marketing and, subsequently, that it correct its inaccurate statements – changed nothing. Protective, the complaint states, “has failed to timely remove or correct its false and misleading environmental claims, instead choosing to continue deliberately deceiving consumers.” Moldex is calling on the court to rule that Protective has competed unfairly under the Lanham Act and the California Business and Professions Code, to enjoin Protective from any further act of unfair competition, and to require the company to issue corrective advertising. The suit, still in its earliest stages, was brought in the District Court for the Central District of California.
France: historic ruling in TotalEnergies écoblanchiment case. On October 23, in a highly anticipated ruling, the Tribunal Judiciaire de Paris found that TotalEnergies SE and TotalEnergies Électricité et Gaz France misled consumers in a 2021 ad campaign claiming TotalEnergies could become carbon neutral by 2050. Specifically, TotalEnergies claimed that it put “climate at the heart of its strategy, with the aim of providing cleaner, safer and more affordable energy to as many people as possible” and that it had set the ambition to achieve “net zero” by 2050. The tribunal ordered the company to remove claims on the TotalEnergies SE website stating that sustainable development is at the heart of its business strategy and that, in line with United Nations development goals, it contributes to the well-being of populations. Écoblanchiment – greenwashing – is not explicitly addressed in French law, so charges were brought under French laws governing “pratiques commerciales trompeuses” – misleading social practices. This is the first time these French laws have been brought against a fossil fuel company, and the first time that any court in the world has held a fossil fuel company responsible for greenwashing. Notwithstanding this landmark ruling, the tribunal notably dismissed most of the claims that had been brought against TotalEnergies, including those related to its advertising campaign around its name change and generally promoting natural gas and biofuels as not sufficiently connected to the sale of products to consumers and thus outside the scope of consumer law. The company has a month from the date of the ruling to remove the implicated statements and post the tribunal’s ruling on the TotalEnergies SE website; it remains to be seen whether the ruling has a knock-on effect on other fossil fuel marketing campaigns across Europe. In September 2024, South Africa’s Advertising Regulatory Board ruled that a TotalEnergies social media campaign, #FuelYourExperience, was misleading, marking that country’s first decision on corporate greenwashing.
German court orders shoe retailer to withdraw sustainability claims. A German regional court has ruled that Germany-based Deichmann, the leading European footwear retailer, is guilty of making false advertising claims about the sustainability of some of its products. This case was brought by Deutsche Umwelthilfe (DUH), an environmental and consumer protection organization, which charged that the retailer had advertised hundreds of its shoes as sustainable, using the slogan “Sustainability: Yes,” without providing any verifiable evidence to substantiate that claim. During the trial, Deichmann compared the shoes in question to similar products from competitors to demonstrate that the advertised shoes offered no environmental benefits. In a binding ruling issued on October 7, the Landgericht (regional court) of Bochum agreed with DUH, ordering the company to withdraw its sustainability claims and “cease its misleading advertising.”
Manx FCA issues guidance on greenwashing. The Isle of Man’s Financial Conduct Authority (FCA) has issued guidance notes on greenwashing and consumer protection to help regulated entities understand and manage the implications of their sustainability-based claims. The guidance affirms that the FCA’s existing authority and current Isle of Man law “apply equally to greenwashing as to other forms of misleading or false advertising.” It sets out, then explains, five principles to help avoid making greenwashing claims, among them that claims should be correct and capable of being substantiated and entity-level claims should align with corporate strategy. The guidance is directed at entities registered under the Financial Services Act 2008, Insurance Act 2008, Retirement Benefits Schemes Act 2000, and Collective Investment Schemes Act 2008. While the guidance does not have the force of law, the FCA states, “it is persuasive.” The Isle of Man is a self-governing British Crown Dependency known for its business-friendly milieu.
Singapore rolls out Guide on Quality-Related Claims. Singapore’s Ministry of Trade and Industry’s Competition and Consumer Commission of Singapore (CCS) has issued the Guide on Quality-Related Claims, created, CCS states, to help businesses make clear and accurate product claims and avoid engaging in unfair trade practices. The guide sets out five key principles for companies regarding product claims under the country’s Consumer Protection (Fair Trading) Act 2003. CCS developed the guide in response to concerns raised by companies about potential greenwashing following a number of recent CCS enforcement actions. See the CCS infographic about the guide here, and download the guide here.

Sustainability: Regulatory
EPA reverses course on coke emissions standards. In a reversal on October 3, Environmental Protection Agency (EPA) Administrator Lee Zeldin signed a final rule that reinstates the original compliance deadline for the National Emission Standards for Hazardous Air Pollutants for Coke Ovens. Coke is a key component in steelmaking. The tighter standards governing emissions from coke plants were originally slated to go into effect in July 2025, but, that month, the agency extended their compliance deadline by two years, stating that the industry could not feasibly implement them. The final rule signed by Zeldin on October 3 reinstates the original effective date. The rule establishes stricter emissions limits for emissions of such substances as mercury and requires plants that manufacture coke to install fenceline monitoring systems for releases of benzene. Also in July, the EPA extended the compliance deadline for a separate rule, Integrated Iron and Steel Manufacturing: National Emission Standards for Hazardous Air Pollutants, by two years. At this writing, it is unclear whether that postponement too will be reversed.
Deadline approaches for comments on proposed changes to Chemical Risk Evaluation Process under the TSCA. November 7 is the deadline to submit comments to the EPA on a proposed rule that would change the way the agency evaluates the risks of chemicals under the Toxic Substances Control Act (TSCA). The EPA states that the proposed rule, pursuant to Executive Order 14219, “Ensuring Lawful Governance and Implementing the President's ‘Department Of Government Efficiency’ Deregulatory Initiative,” and EPA Administrator Lee Zeldin’s Powering the Great American Comeback initiative, would streamline such evaluations while increasing transparency and providing a more predictable regulatory process for chemical manufacturers. The current procedural framework for evaluating the risk of chemicals is set out in a 2017 rule that was revised in 2024 to require a single, comprehensive risk determination for each chemical across all conditions of use (COUs). The proposed rule would revert to separate evaluations for each COU. Among other key changes in the proposed rule: the EPA would be allowed to take into account occupational exposure controls, such as personal protective equipment, in risk determinations and chemical risk evaluations; would use the definition of “weight of scientific evidence” set out in Executive Order 14303, “Restoring Gold Standard Science”; would eliminate “overburdened communities” from the list of “potentially exposed or susceptible subpopulations” that must be considered in evaluations; and would require less information from manufacturers submitting requests for risk evaluations. See the proposed rule here.
CalRecycle: Updates on progress of EPR law. California’s Plastic Pollution Prevention and Packaging Producer Responsibility Act Advisory Board met on October 17 to discuss the implementation of SB 54, California’s EPR legislation. At the meeting, the California Department of Recycling and Recovery (CalRecycle) stated that it is currently focusing on rulemaking efforts, reviewing public comments, and preparing its responses. Additionally, CalRecycle stated that interim technical reports on collection, processing, and end markets; source reduction and material design; and consumer education and access will be released soon. The Circular Action Alliance (CAA) also provided an update at the meeting, reporting that it is working with several agencies to develop plans for stakeholder engagement in the EPR program. CAA urged producers to submit their 2023 data by November 15, 2025 to enable more accurate 2027 fee rate ranges and source reduction planning. Additionally, CAA noted that de minimis clarity for certain types of plastic is still pending.
CAA discusses RecycleOn Colorado EPR strategy. In an October 9 webinar, CAA laid out its “RecycleOn Colorado” education and outreach strategy under the state’s EPR law, HB 22-1355, the Producer Responsibility Program for Statewide Recycling Act. Speakers from CAA and the agencies working on the marketing campaign explained that, starting in spring 2026, RecycleOn Colorado will work to expand public awareness of the EPR program through a broad outreach program that helps residents understand and take part in the new recycling system. Among the marketing campaign’s overall goals are increasing Colorado’s recycling rate to 47 to 60 percent by 2035 and expanding curbside recycling to 500,000 new households, particularly focusing on rural areas in which recycling programs currently may not exist and residents may be skeptical. July 31 was the initial reporting deadline for covered entities under HB 22-1355, which in January 2026 will begin paying responsibility fees that will be used to establish free recycling programs for Colorado residents. The longer-term plan is to bring small businesses into the recycling program by 2030. For more information, see our latest state EPR law roundup.
Quebec’s Bill 29, addressing planned obsolescence in consumer goods, is now in effect. Quebec’s new durable goods law, the Act to protect consumers from planned obsolescence and to promote the durability, repairability and maintenance of goods (Bill 29), became effective on October 5. Bill 29 introduces a right to durability, requiring manufacturers to provide a legal warranty of good working order for certain new goods, such as refrigerators, stoves, laptops, and cell phones. It also enhances the right to repairability, requiring manufacturers and merchants to warranty the availability of replacement parts and repair services for goods requiring maintenance and specifying that they must provide information about maintaining and repairing such goods. Further, the installation of replacement parts must be possible using “commonly available tools.” Find out more about Bill 29 in our alert.
IMO postpones vote on net zero framework and global pricing mechanism for ships’ carbon emissions. Global members of the International Maritime Organization (IMO) agreed on October 17 to table for one year their vote on draft regulations amending the International Convention for the Prevention of Pollution from Ships’ Annex VI. The amendments – designed over years with input from all major countries – would have put in place a legally binding timetable to reduce maritime shipping emissions: a 20- to 30-percent reduction in GHG emissions by 2030, a 70-percent reduction by 2040, and net zero “by or around” 2050. Vessels not in compliance would be required to pay fees with gradually increasing carbon-intensity targets. This framework has been broadly supported by the shipping industry because it sets out global standards that are consistent and clear.
At an IMO meeting in April, a majority of the world’s countries endorsed the amendments. The next step was for IMO members to vote on adopting the amendments during this month’s extraordinary session of the IMO’s Marine Environment Protection Committee in London. However, in August, the US formally rejected the agreement. On October 16, it reiterated its warnings to IMO member nations that, if the net zero framework were voted in, the US would consider remedies. Ultimately, on October 17, Singapore’s motion to table the vote on the measure, put forward by Saudi Arabia and supported by Russia and the US, passed narrowly, pushing a vote on adoption to October 2026. Given the delay, the IMO is now reportedly working to revise the timelines set out in the agreement, which would have gone into effect in 2028. The IMO is the United Nations agency that regulates international shipping.

Sustainability: Litigation
Several lawsuits filed over rescission of Solar for All grants. A coalition of 22 US states and the District of Columbia have filed suit in the US District Court for the Western District of Washington charging that the EPA and EPA Administrator Lee Zeldin illegally revoked $7 billion in clean energy funds that had been awarded to local governments. The suit, brought on October 16, concerns the Solar for All program, created to bring low-cost distributed solar energy to more than 900,000 households in low-income and disadvantaged communities across the country. Funding was appropriated by Congress for the program in 2022 under the Inflation Reduction Act.
This is just one of several cases filed this month over the Solar for All termination. On October 15, a coalition of 24 Solar for All grant recipients, led by the Maryland Clean Energy Center, state of Arizona, and California Public Utilities Commission, brought a breach of contract action in the US Court of Federal Claims over the EPA’s decision to unilaterally terminate competitive grants they had been awarded under Solar for All. On October 13, Harris County, Texas filed its own suit against the EPA, Zeldin, and EPA Award Official Devon Brown in the US District Court for the District of Columbia, charging that no act of Congress authorized the decision to cancel Solar for All and that the cancellation violates the Constitution. Finally, a separate lawsuit filed on October 6 in the US District Court for the District of Rhode Island alleges that the termination of Solar for All was unconstitutional and caused the plaintiffs harm. That suit differs from the others in that its plaintiffs are “intended beneficiaries” of Solar for All – a group of nonprofits, solar installation companies, a trade union, and a homeowner. They argue that the Executive Branch did not have the statutory authority to rescind Solar for All’s funding because, although Congress repealed large swathes of the Greenhouse Gas Reduction Fund in the summer, it has not repealed the Solar for All program retroactively.
All these cases are in the earliest stages.
Iowa counties petition Supreme Court over proposed carbon sequestration pipeline. On October 3, the Iowa counties of Story and Shelby petitioned the US Supreme Court seeking to overturn a ruling by the Eighth Circuit Court of Appeals that blocked them from enforcing local setback ordinances against carbon sequestration pipelines. This is the latest development in the ongoing saga of Summit Carbon Solutions’ proposed $9 billion Midwest Express carbon capture pipeline, which would collect captured CO2 from ethanol plants across the Midwest and sequester it in underground rock formations in North Dakota. Earlier this year, in a setback for the company, South Dakota banned the use of eminent domain for carbon pipelines, effectively blocking that portion of the planned route. In June, the Eighth Circuit agreed with Summit’s contention that the counties’ regulations requiring “hazardous liquid pipelines” to meet setback rules around schools, churches, and other buildings are preempted by the federal Pipeline Safety Act. The company’s struggle to obtain permits for its multistate project is continuing across other fronts. Also this month, it argued in Iowa’s Polk County District Court that, before a lawsuit brought by the Sierra Club against the permit itself moves forward, the company’s proposed changes to its Iowa Utilities Commission permit allowing the Iowa portion of the pipeline should be decided on. Should the pipeline be built, it would become one of the world's largest carbon capture projects, moving up to 12 million metric tons of CO2 a year to storage. The company said last year that it had already obtained voluntary easement agreements from 75 percent of the Iowa landowners along the route. A response to the counties’ petition will be announced by the Supreme Court November 6.
Montana district court dismisses youth-led climate lawsuit. On October 15, the US District Court for the District of Montana dismissed Lighthiser v. Trump, a youth-led lawsuit charging that three of the President’s energy-related Executive Orders (EOs) will accelerate climate change, causing “irreversible harm” to the plaintiffs and violating their constitutional rights to life and liberty. They asked the court to invalidate the EOs and order the President, as well as 11 federal agencies also named as defendants, not to enforce or implement them. The court found that, while the activists had shown they would be harmed by these policies, their injuries could not be redressed by the court: “This court would be required to monitor an untold number of federal agency actions to determine whether they contravene its injunction. This is, quite simply, an unworkable request for which plaintiffs provide no precedent.” The ruling continued, “With this understanding in mind, the Court reluctantly concludes...that it cannot grant Plaintiffs the relief they seek.” Following the ruling, the lead lawyer for the 22 plaintiffs announced their intent to appeal. See our earlier coverage of this litigation here and here.

Supply chain integrity
Rare earths update. On October 9, in the latest move in the ongoing trade dispute between the US and China, China’s Ministry of Commerce (MOFCOM) announced tighter restrictions on exports of products containing five more rare earths – bismuth, indium, molybdenum, tungsten, and tellurium. Rare earths, among them lithium, copper, and cobalt, are essential to modern technologies ranging from laptops and phones to electric vehicles. The addition of the five minerals to the restricted list tightens supply chain concerns for companies worldwide that are already seeking replacements for the other rare earths affected by Chinese restrictions imposed in early April.
The US currently imports the majority of its critical minerals, and the federal government is striving to change that. On October 20, President Donald Trump and Australian Prime Minister Anthony Albanese announced a United States–Australia policy framework to secure and diversify critical minerals and rare earths supply chains spanning mining, separation, and processing. (Find out more about the framework in our alert.) In addition, in recent weeks the federal government has been working to develop domestic rare earths capacity. On October 6, Interior Secretary Doug Burgum announced that the federal government intends to purchase a 10-percent share in Canadian rare earths developer Trilogy Metals (NYSE:TMQ), with warrants to purchase an additional 7.5 percent to accelerate the company’s exploration in Alaska’s remote, mineral-rich Ambler Mining District. Also on October 6, the White House announced it will allow the construction of the 211-mile Ambler Road, and President Trump directed that permits for the project be issued promptly. On October 1, the Department of Energy (DOE) announced a significant investment in British-Columbia-based Lithium Americas (NYSE:LAC), which plans to develop the Thacker Pass mine in Nevada, the world’s largest known measured lithium resource and reserve. And in July, the Department of Defense became the largest shareholder in Las Vegas-based MP Materials (NYSE:MP), owner of the Mountain Pass mine, the only rare earth mine and processing facility currently operating in the US.
Key takeaways from Public Safety Canada’s 2025 report to Parliament on Canada’s Supply Chains Act. Public Safety Canada has tabled its second annual report to Parliament on the implementation of the Fighting Against Forced Labour in Supply Chains Act, providing a snapshot of how market practices are evolving and how the regulator is administering the reporting regime. Our alert tells you more.
Supply chains in focus: Lessons from a recent enforcement action. Recent increases in trade barriers have led some companies to reconsider and reshape their supply chains to minimize risk and costs. A series of enforcement actions against a Dominican manufacturer of aluminum extrusions, culminating this September when a court vacated a forced labor finding, highlight how companies must look beyond tariff risk to fully account for the multi-dimensional risks associated with regulatory compliance and enforcement in their supply chains. Our alert tells you more.
Energy and natural resources
Trump Administration’s plan to revive coal industry moves forward. On September 29, the Trump Administration announced the next steps in its sweeping plan to revive the mining and use of coal in the US. The Department of the Interior announced it will open 13.1 million acres of federal land to coal mining, lowering royalty rates and streamlining approvals. A press release from the Interior Department states that such lease sales are already underway for sites in Alabama, Montana, North Dakota, Utah, and Wyoming. At DOE, Secretary Chris Wright announced in late September that the Administration will continue using emergency authority “to stop the closure of coal plants.” On September 30, the DOE announced a major funding opportunity, “Restoring Reliability: Coal Recommissioning and Modernization,” offering a total of $625 million in awards to address two “topic areas,” Coal Recommissioning, Retrofit, and Modernization Projects and Rural Capacity and Energy Affordability. On October 15, the media outlet NOTUS reported that the majority of those funds, $525 million, were originally appropriated by Congress under the Infrastructure Investments and Jobs Act. Though the funds were intended for carbon capture programs and rural energy projects, the DOE funding notice states that coal projects may be eligible for awards from the funds originally allocated for carbon capture projects even if they do not immediately include carbon capture utilization and storage components. The Administration’s initiative to revive the coal industry is in accordance with two Executive Orders, “Reinvigorating America’s Beautiful Clean Coal Industry” and “Strengthening the Reliability and Security of the United States Electric Grid.”
Nuclear reactor update. DOE has added four more companies to the Fuel Line Pilot Program, created to help establish a domestic nuclear fuel supply chain for testing new reactors and to fast-track the commercial licensing of reactors. Newly selected by DOE for the program are Oklo Inc., whose small-scale advanced Aurora reactors can be fueled by recycled nuclear waste; Terrestrial Energy Inc., developer of the Integral Molten Salt Reactor powered by molten salt fission technology; TRISO-X LLC, which is developing tri-structural isotropic (TRISO) particle fuel for the commercial market; and Valar Atomics, which is developing high-temperature gas reactors that use TRISO fuel. The federal government is supporting the development of SMRs under two Executive Orders, “Reforming Nuclear Reactor Testing at the Department of Energy” and “Deploying Advanced Nuclear Reactor Technologies for National Security.”
The US military will be among the beneficiaries of this move to build new reactors. On October 15, the US Army announced Project Janus, which aims to build and bring online small modular reactors (SMRs) on nine Army bases as soon as 2027. The program, a partnership with the Defense Innovation Unit, seeks “to provide clean, reliable energy for federal installations and other critical infrastructure.” The reactors will be commercially owned and operated. Energy Secretary Chris Wright stated that the government is already working with private companies that are developing SMRs small enough to be transported on airplanes or trucks and even forward deployed. The US Navy’s submarine fleet is already fully powered by reactors, and the Navy is currently developing the next generation of naval nuclear propulsion infrastructure. In July this year, the Department of the Air Force (DAF) issued Oklo a Notice of Intent to Award for an SMR to be sited at Eielson Air Force Base in Fairbanks, Alaska.

Sustainability in financial services
SEC signals potentially significant changes to Rule 14a-8 shareholder proposal process. Securities and Exchange Commission Chairman Paul Atkins has suggested that the agency may be amenable to arguments from Delaware-incorporated companies seeking to exclude precatory shareholder proposals from company proxy materials. His statements and the SEC’s planned regulatory agenda may denote significant changes to the shareholder proposal process for the 2026 proxy season. See our Market Edge blog.
UN SSE releases Model Guidance on Nature-Related Financial Disclosures. The United Nations Sustainable Stock Exchange Initiative (UN SSE), in partnership with the Taskforce on Nature-Related Financial Disclosures, has released Model Guidance on Nature-Related Financial Disclosures, designed to support issuers and listed companies in understanding and disclosing nature-related issues. Climate change, UN SEE commented during the guide’s October 1 release, poses material risks to businesses, investors, financial institutions, and markets. The guidance sets out information that is clear, consistent, and science-based to help entities identify, assess, disclose, and respond to their impacts on nature, which “in turn strengthens risk management, improves transparency, drives accountability, and helps direct capital towards nature-positive outcomes, building resilience and long-term value.” UN SSE also announced that, via its SSE Academy, it will soon launch a new training program for market participants worldwide on nature-related financial disclosures. Read the guide here.
Federal banking regulators withdraw climate risk guidance for large banks. The federal banking agencies have withdrawn the Principles for Climate-related Financial Risk Management for Large Financial Institutions, a framework created to help large financial institutions – those with $100 billion or more in total assets – address climate-related financial risks. In a joint press release, the agencies stated that the principles are not necessary because supervised institutions already must comply with existing safety and soundness standards and already “should be resilient to a range of risks, including emerging risks.” As we reported in the spring, the Office of the Comptroller of the Currency withdrew its participation in the interagency principles on March 31. On October 16, the Board of Governors of the Federal Reserve System and the Federal Deposit Insurance Corporation also withdrew. The principles, the press release stated, have been rescinded “effective immediately.”
European Commission urged to exclude fossil fuel developers from SFDR’s “sustainable” investment categories. In an open letter sent on September 30, more than 120 signatories – among them financial institutions, think tanks, environmental nonprofits, and prominent academics – called on the European Commission to exclude fossil fuel developers from financial investments that are labeled sustainable. The Commission is currently considering revisions to the Sustainable Finance Disclosure Regulation (SFDR), legislation put in place in 2019 which sets out how financial market participants must communicate sustainability information. The SFDR allows three different categories to describe the sustainability of financial products: one for funds with a sustainable investment objective; another for funds that meet lower sustainability criteria; and a third to be used by funds that meet none of the sustainability standards. The letter states that “developing new fossil fuel projects – a long-term investment incompatible with global climate goals – is a clear indication” that a company has no plans to transition to net zero. It concludes: “We advocate strongly for a strict exclusion of companies developing new fossil fuel projects to serve as reference for all future SFDR categories.” Read the letter here.
The market for green: Transferable IRA credits today and tomorrow. The market for transferable Inflation Reduction Act credits, which are designed to incentivize green energy investments, is developing rapidly. In our latest Tax Brief podcast, we discuss how these credits work, the current state of the market, and what the future may hold as regulations and market practices evolve. Listen to this episode here.
Sustainability in the marketplace
Indonesia reopens international carbon trading. With the overarching goal of generating new foreign investment and achieving net zero, Indonesian President Prabowo Subianto has signed a decree ending the country’s four-year moratorium on international carbon trading. The Indonesian government, which had become one of the world’s leading sources of carbon credits, stopped such sales to international buyers in 2021, stating that it preferred to focus on meeting domestic emissions goals. Over the last couple of years, however, it has worked to more closely collaborate with global certification registries, signing mutual recognition agreements with such entities as Gold Standard, the Joint Crediting Mechanism, and Verra; it also introduced its own domestic carbon exchange, starting to offer credits to international buyers earlier this year. President Subianto’s decree requires that traded carbon units be verified either under recognized international standards such as those of the United Nations Framework Convention on Climate Change or Indonesia’s national standards. Aiming to ensure transparency and accuracy while avoiding double counting, Indonesia has also established a decentralized registry to record carbon units in real time.
Industrial, manufacturing, and tech companies report on their readiness for extreme weather events. A report from insurance company FM of 800 risk decision-makers at global industrial, manufacturing, and technology companies finds that 62 percent of respondents have experienced severe business disruptions from extreme weather events over the past three years – but those respondents still report significant gaps between perceived and actual preparedness for future weather disasters. Four in ten companies, FM noted, report that their boards regularly discuss extreme weather risks, and 80 percent of the study’s respondents told FM that their employees are increasingly concerned about their company’s exposure to weather risks. Furthermore, compared to five years ago, the report found that corporate boards have a far more nuanced understanding of these risks – an understanding that extends to the vulnerability of entire supply chains and business ecosystems. However, the respondents also said that significant gaps remain between perceived and actual preparedness: their current insurance, most reported, would cover about half of potential weather-related impacts. Respondents also reported that their companies are under-adopting risk mitigation measures that could harden their facilities against weather disasters. See the 2025 FM Natural Disasters Report.

Calendar
Key global reporting deadlines
Click on each icon to learn more.
Coming events
- The European Conference on Climate Change and Environmental Sustainability takes place November 6-7, 2025 in Vienna.
- The 2025 United Nations Climate Change Conference (COP 30) will be held November 10-21, 2025 in Belém.
- The 20th Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES COP20) takes place from November 24 to December 5, 2025 in Samarkand, Uzbekistan.
- The 7th session of the United Nations Environment Assembly (UNEA) takes place from December 8-12, 2025 in Nairobi.
- DC Climate Week takes place from April 20-26, 2026 in Washington, DC.
For professional responsibility reasons, these summaries may not include discussions of developments relating to certain matters.







