Counsel to Counsel - May 2008 - (Page 23)

The inventory shouldn’t simply focus on what comes out of the smokestacks, either. Commercial buildings and industrial facilities are responsible for 45 percent of U.S. greenhouse gas emissions. Look at the way your operations are structured and the key decisions that can have ripple effects, either positive or negative. You need to know exactly what you’re emitting, because a lot of people will soon be interested, and not just regulators. “The backdrop here is that there is significant securities disclosure litigation in the U.S.,” says Donald E. Batterson, a partner in the Climate and Clean Technology Law practice with corporate and M&A expertise. “You have to ask: ‘Are these changes, including trends and uncertainties, material risks to my business that investors have a right to know about?’” The emphasis on full and fair disclosure has only gotten stronger since SarbanesOxley went into effect. The Securities and Exchange Commission’s disclosure regime is focused on providing investors with all the material information that they need to make wise investment decisions. “We can see that there are increasing risks and awareness of risks in the climate change area,” Batterson says. “This is going to create new disclosure obligations.” Be sure to look abroad as well. The European Union has imposed regulations on an industry-specific basis that is more nuanced than the U.S. regulatory scheme, and the Kyoto Protocol is in effect in more than 175 countries. Dedicate the appropriate time and resources to monitor not only pending legislation and regulatory shifts, but also emerging trends, litigation and best practices. your energy use. Green buildings have been documented to reduce employee absenteeism by as much as 15 percent. “There are opportunities for new technology, new investment, for new ways to market existing products,” Sigel states. “There’s an opportunity to make new connections with citizen groups which a company can integrate into its overall marketing approach. There are a lot of positives for the company as a whole and for in-house counsel in particular.” “The backdrop here is that there is significant securities disclosure litigation in the U.S. You have to ask: ‘Are these changes, including trends and uncertainties, material risks to my business that investors have a right to know about?’” “Regulatory certainty is crucial for any company to operate effectively,” says Sigel. “You have to be able to plan. If you don’t know what’s on the horizon, that’s very difficult and expensive.” Gabrielle Sigel is partner and co-chair of the Climate and Clean Technology Law practice at Jenner & Block LLP She is . Peer Review Rated and may be reached at gsigel@jenner.com. Donald E. Batterson is a partner in the Climate and Clean Technology Law practice at Jenner & Block LLP He may . be reached at dbatterson@jenner.com. Eye the Horizon In this rapidly evolving area of law, it’s essential to know what regulations are in the offing, be they on a state, federal or even international level. “This isn’t really a D.C. phenomenon,” says Sigel. “At this point it’s largely a state phenomenon. Every state where you have operations is probably doing something unique. If you’re in California, they are way ahead of the game. You really have to be aware of every state.” Find the Upside Climate change awareness is not just about increased risk and regulations; it’s a chance to create new products, forge new avenues of communication with clients and the public, and even to redefine your mission. Often solving one problem can yield unexpected rewards in another area. For example, upgrading the energy efficiency of your facilities doesn’t just reduce martindale.com/c2c May 2008 23 http://www.martindale.com/c2c

Table of Contents Feed for the Digital Edition of Counsel to Counsel - May 2008

Counsel to Counsel - May 2008 Contents Harassment Policies NEC Corporation of America and Duane Morris LLP Lost or Stolen Data: Minimizing Fallout On-Boarding the Board Drafting Fair, Efficient and Enforceable Arbitration Agreements Responding to Counterfeit Products Crafting an English-Only Workplace Policy Distressed Debt: New Players, Global Sophistication Make Restructuring More Complex IP Confidential: Plan Ahead, Act Fast to Protect Your Trade Secrets Adverse Changes: Think Ahead in a Strained M&A Market Optimizing Web 2.0 Technology: Expanding Your Professional Network Union Pacific Railroad Company and Patton Boggs LLP Warming Warning: Develop Your Climate Change Strategy Now Risk Sharing: Expect New Obstacles and Expenses in Syndicated Loans E-Discovery in Action Diversification at the Gate Energy

Counsel to Counsel - May 2008

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