Climate Change and Sustainable Development

Climate change—and the legislative, regulatory, investment and litigation responses to it—constitutes one of the most important and complex challenges facing businesses today, both in the United States and internationally. Climate change presents both problems and opportunities for companies, whether large or small, spanning the entire spectrum of economic activity.

Developing an effective strategy requires a multi-disciplinary approach that includes comprehensively identifying the legislative, regulatory, economic and legal risks that arise as a result of climate change and the shifting legal landscape. It also calls for creative thinking from a range of legal disciplines to enable businesses to take advantage of opportunities presented by new government programs and new markets, as well as vulnerabilities of competitors who are not taking the necessary steps to respond to these issues. Because climate change is a global phenomenon, evaluating risks and opportunities requires a global outlook. And because the effects, the responses, and opportunities arising from climate change will take place over decades, the success or failure of developing and implementing an effective plan to address these challenges will have dramatic and long-standing legal and economic consequences.

Regulatory Strategy

We have a strong foundation in advising clients on regulatory developments related to climate change. Our lawyers have counseled more than 40 of the world’s leading multinational companies and trade associations on every significant U.S. climate change-related rulemaking and international treaty developments.

Legislative Counseling

Sidley has grown its Federal legislative capacity in response to Congressional attention to energy and climate change, advising clients on proposed and considered legislation in the U.S. Congress — including legislative proposals relating to cap and trade programs, carbon taxes, and regulatory standards for emissions controls from major emitting sources. Sidley also advises clients on state proposals to regulate greenhouse gas emissions from stationary sources. Sidley leads in the development of legislative text regarding methodologies to support offset protocols in cap and trade legislation, and played the key role in redrafting legislative language that was adopted by the House Energy and Commerce Committee to regulate future GHG emissions from coal fired power plants. As new bills, new drafts, and new amendments continue to circulate in Congress, Sidley uses its experience in the climate change arena to ensure that its clients receive the most timely, informed, and important analysis and assistance.

Transactional

Sidley’s global transactional practices (mergers & acquisitions, financing & lending, project financing, tax, etc.) form an excellent foundation to serve client transactional needs both in matters directly involving climate-related investments, as well as in transactions involving assets whose economic viability depends heavily on government-mandated efficiency or emissions controls and climate change policy. Sidley assists clients in specific climate change-related transactions and helps them address climate change concerns (both in due diligence efforts and contract terms) in more general transactions.

Litigation

Sidley is a leader in the significant climate change litigation occurring across the country, and we are prepared to help clients face these litigation challenges in the future. We have taken a lead role at the federal district court and appellate levels in the three federal common law suits involving tort claims against significant GHG emitters, in which States, cities and private plaintiffs allege that GHG emissions have created a public nuisance, damaged property and caused economic losses. Sidley also represents several trade associations in a constitutional challenge to California’s Low Carbon Fuel Standard and is working on several cases challenging a variety of EPA climate change rules, as well as defending air permits for power plants, challenged on climate change grounds.

• California Superior Court Enjoins Further Implementation of California’s Cap-and-Trade Regulation Adopted Under California’s Global Warming Solutions Act of 2006
  March 24, 2011
• American Power Act Proposed by Sens. Kerry and Lieberman: Key Preemption Provisions and Differences From Other Proposals
  May 20, 2010

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• 84 Sidley Lawyers Recognized in Chambers Global: The World's Leading Lawyers for Business for 2012
  March 2012
• 171 Sidley Lawyers Ranked in Chambers USA: America’s Leading Lawyers for Business 2011
  June 13, 2011

• Russia’s Strategy on Climate Change Legislation: “How EU Climate Change Legislation Will Affect the Russian Metals Industry”
  January 2011
• Greenhouse Gas Controls: The Paths Forward in the Void of International and Domestic Action
  2010/11