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ARTICLE · 23 MAY 2024

For What It's Earth - Issue 48: May 22, 2024

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The Michigan Attorney General declared an intention to pursue litigation related to the climate change impacts allegedly caused by the fossil fuel industry on behalf of the State of Michigan.

GlobalEnvironment
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Litigation

The Michigan Attorney General declared an intention to pursue litigation related to the climate change impacts allegedly caused by the fossil fuel industry on behalf of the State of Michigan. Michigan Attorney General Dana Nessel anticipates the litigation could seek damages in the billions of dollars. Any lawsuits filed by Michigan would follow dozens of similar legal actions initiated by states and local governments.

Regulation

The European Securities and Markets Authority (ESMA) finalized guidelines for the use of ESG and sustainability-related terms in investment fund names. The guidelines are designed to prevent greenwashing by asset managers in response to a sharp increase in investor demand for ESG-focused funds in recent years. ESG terms will be permitted if a minimum threshold of 80% of investments are used to meet the ESG objectives. The guidelines will be applicable three months after publication.

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