The Securities and Exchange Commission (SEC) recently requested public input on company disclosure of information associated with Environmental, Social and Governance (ESG) and climate change risks, impacts, and opportunities. In response, AGC’s June 11 letter to agency offered key principles for the SEC to consider: 1) support of voluntary and flexible, market-based disclosures; 2) adherence to the Supreme Court’s “materiality” standard and existing rules; 3) base disclosures on sound data and a workable framework for companies of different sizes and industries; and 4) set boundaries on the scope of reporting and limits on legal liability.

Learn more at July 20-22 virtual conference, free to AGC members

Learn more at July 20-22 virtual conference, free to AGC members

Gains on WOTUS, Endangered Species Act Regulations & More in Jeopardy

Learn more at July 20-22 virtual conference, free to AGC members The U.S. Environmental Protection Agency (EPA) has proposed an update to its National Pollutant Discharge Elimination System (NPDES) Construction General Permit (CGP) covering stormwater discharges from construction activities. EPA has also released a proposed 2022 CGP Fact Sheet, which includes a summary table of some of the changes. Forty-seven states use EPA’s permit as a model for their own permits, so its impact extends beyond the three states (New Hampshire, New Mexico, and Massachusetts), territories and other areas that use it exclusively.

The U.S. Environmental Protection Agency is working on a new rule related to hexabromocyclododecane (HBCD), a flame retardant chemical that was used from the 1980s until 2017 as an additive to polystyrene to make insulation boards for construction. An EPA risk assessment showed that there is a potential for worker exposure to HBCD particles. EPA has asked AGC to identify small business construction representatives who can advise a panel of government lawmakers on their respective technical and financial abilities to meet clean-up or handling requirements that may be put in place regarding HBCD insulation board. If you are a small business that uses/encounters polystyrene insulation boards in roofing, building envelopes or foundations during construction, renovation or demolition, then AGC is interested in hearing from you. AGC small-business contractors are needed to ensure the Agency takes a fair and balanced approach.

On April 27, the U.S. Environmental Protection Agency (EPA) announced the formation of a new agency council to address per- and polyfluoroalkyl substances (PFAS). In the memo, EPA Administrator Michael Regan also reiterated the agency’s commitment to the 2019 PFAS Action Plan. The chemical can be found in many products, soil, and water. AGC previously supported the 2019 PFAS Action Plan, because it outlined a deliberate approach to review the science and address concerns that arose. The agency is taking action on PFAS under several programs including air, significant new uses, wastewater, drinking water, and Superfund.

On March 15, the Securities and Exchange Commission (SEC) released a notice for public input on its current recommendations for disclosing climate risks and how it could change or supplement that process in the future. The Commission currently relies on its 2010 guidance to help entities understand how to identify and report on climate risks that could impact investors. Now, the SEC faces considerable pressure to revisit and expand the guidance to include more on material risks and environmental, social, and governance (ESG) factors. The SEC is asking for feedback on 15 topics associated with the regulation of climate disclosures---including how the rules should address private companies’ climate disclosures.

On March 16, bipartisan members of the House Transportation and Infrastructure Committee introduced the AGC- supported Water Quality Protection and Jobs Creation Act of 2021 (HR 1915). The bill would substantially increase federal funding assistance available to states and localities through the Clean Water State Revolving Fund (CWSRF).

In January, President Biden signed executive orders specifically charging federal agencies to focus on environmental regulations, climate change, and environmental justice. In the intervening weeks, the agencies have begun implementing those directives. We are seeing incremental steps taken as the nominees to head these agencies move through the confirmation process. The Senate just confirmed Michael Regan’s appointment to head the U.S. Environmental Protection Agency and hearings for other nominees have recently happened or are being scheduled. Agency activity is expected to increase as more appointed officials take the lead.