Law Commons^™

Securities Regulation And Administrative Deference In The Roberts Court, Eric C. Chaffee

Seattle University Law Review

In A History of Securities Law in the Supreme Court, A.C. Pritchard and Robert B. Thompson write, “Securities law offers an illuminating window into the Supreme Court’s administrative law jurisprudence over the last century. The securities cases provide one of the most accessible illustrations of key transitions of American law.” A main reason for this is that the U.S. Securities and Exchange Commission (SEC) is a bellwether among administrative agencies, and as a result, A History of Securities Law in the Supreme Court is a history of administrative law in the Supreme Court of the United States as well.

Delegated Corporate Voting And The Deliberative Franchise, Sarah C. Haan

Seattle University Law Review

Starting in the 1930s with the earliest version of the proxy rules, the Securities and Exchange Commission (SEC) has gradually increased the proportion of “instructed” votes on the shareholder’s proxy card until, for the first time in 2022, it required a fully instructed proxy card. This evolution effectively shifted the exercise of the shareholder’s vote from the shareholders’ meeting to the vote delegation that occurs when the share-holder fills out the proxy card. The point in the electoral process when the binding voting choice is communicated is now the execution of the proxy card (assuming the shareholder completes the card …

Capitalism Stakeholderism, Christina Parajon Skinner

Seattle University Law Review

Today’s corporate governance debates are replete with discussion of how best to operationalize so-called stakeholder capitalism—that is, a version of capitalism that considers the interests of employees, communities, suppliers, and the environment alongside (if not before) a company’s shareholders. So much focus has been dedicated to the question of capitalism’s reform that few have questioned a key underlying premise of stakeholder capitalism: that is, that competitive capitalism does not serve these various constituencies and groups. This Essay presents a different view and argues that capitalism is, in fact, the ultimate form of stakeholderism. As such, the Essay urges that the …

The Esg Information System, Stavros Gadinis, Amelia Miazad

Seattle University Law Review

The mounting focus on ESG has forced internal corporate decision-making into the spotlight. Investors are eager to support companies in innovative “green” technologies and scrutinize companies’ transition plans. Activists are targeting boards whose decisions appear too timid or insufficiently explained. Consumers and employees are incorporating companies sustainability credentials in their purchasing and employment decisions. These actors are asking companies for better information, higher quality reports, and granular data. In response, companies are producing lengthy sustainability reports, adopting ambitious purpose statements, and touting their sustainability credentials. Understandably, concerns about greenwashing and accountability abound, and policymakers are preparing for action.

In this …

Table Of Contents, Seattle University Law Review

Seattle University Law Review

Table of Contents

The Marijuana Insurgency: Federalism And Social Reframing In Policy Reform, Matthew P. Cavedon

Seattle University Law Review

After fifty years of federal prohibition, marijuana reform efforts have won political and legal success. These victories hold lessons for anyone seeking to resist federal law without being able to directly affect it.

Victory can come from reframing an issue. For marijuana reform, social reframing—not formal legal analysis or material factors—provides the best explanation for how advocates achieved change. Their unconventional political tactics, akin to those used by insurgents in wartime, undercut federal prohibition by winning hearts and minds.

This is an analysis of the sociology of legal change. It is also the story of how ordinary Americans retook personal …

The Misleading Successes Of Cost-Benefit Analysis In Environmental Policy, David E. Adelman, Amy Sinden

Michigan Journal of Environmental & Administrative Law

This Article critically examines the rise of cost-benefit analysis (CBA) in environmental policy and the profound disconnect that has persisted between the actual practice of CBA and its normative grounding. Although CBA is now synonymous with rational decision-making in federal agencies, this has not always been the case. Views about CBA have evolved from bipartisan rejection in the 1970s, to partisan division (Republicans for, Democrats against) during the Reagan-Bush years, to a broad embrace of CBA in the mid-1990s, when centrist legal scholars were instrumental in crafting a new defense of CBA based on a mix of welfare economics and …

The Clean Water Act’S Nurdle-Shaped Gap: Using The Cwa To Address Primary Microplastic Pollution, Taylor Hopkins

Michigan Journal of Environmental & Administrative Law

The term “nurdles” may sound like a silly made-up word lifted from the pages of a children’s book, but unfortunately nurdles are all-too real, with trillions of these microplastics ending up in our oceans each year. Nurdles spill into the environment at every step along their supply chain, allowing them to end up in fish and on our plates. Despite the known danger nurdles pose to both wildlife and humans, they are virtually unregulated. In the absence of regulation by the Environmental Protection Agency (EPA), some states and their citizens have begun trying to wrangle rogue nurdles, and hold nurdle …

"Major Questions" Malarkey: An Arbitrary And Capricious New Doctrine For Vetoing Controversial Agency Rules, Lars Noah

UF Law Faculty Publications

In 2022, in West Virginia v. EPA, the U.S. Supreme Court officially adopted the “major questions” doctrine. Commentators have already spilled plenty of ink trying to make sense of what this might portend, but so far seemingly everyone has accepted at face value the Court’s framing of the issue that it confronted in that case. This symposium contribution offers a slightly different perspective on the decision and suggests that closer attention to the precise nature of the question posed therein might reveal a distinctive flaw at the heart of the majority’s newfangled clear statement rule—it only sows confusion to …

Corporate Climate Litigation And Environmental Justice: How Green Amendments Can Be Used To Advance Accountability And Equity, Noah Hines

Indiana Journal of Law and Social Equality

The term “Green Amendment” was first coined by author Maya van Rossum in her 2017 book The Green Amendment: Securing Our Right to a Healthy Environment, in which she argues that modern environmental protection laws are fundamentally failing the most vulnerable people in society and proposes the creation of new constitutional rights as a solution. The provisions van Rossum argues ought to be added to state constitutions as “Green Amendments” are also sometimes called “Environmental Rights Amendments,” and generally enumerate the right of all citizens to a clean or healthy environment. Green Amendments currently exist in Pennsylvania, Montana, Illinois, Hawaii, …

Rethinking Environmental Disclosure, Annie Brett

UF Law Faculty Publications

Twenty years ago, legal scholars and regulators alike were convinced that information-forcing regulations heralded a new era in environmental law. Coming off the success of the Toxics Release Inventory (TRI), which seemed to decrease toxic chemical pollution solely by forcing industry to disclose if they released certain chemicals, many called information regulation the third wave of environmental law. New information disclosure policies were enacted and old policies reinvigorated, leading to a plethora of information-based regulations throughout environmental law. Now, twenty years later, the emergence of big data and artificial intelligence (AI) approaches to environmental analysis have only further increased the …

Civil Procedure For The Anthropocene, Roger Michalski, Emily S. Taylor Poppe

Faculty Articles

Climate considerations must become an element of procedural analysis. Scholars, rule makers, legislators, and judges have historically prioritized procedural values including cost, speed, and accuracy. More recent waves of scholarship—including critical perspectives—have emphasized participation as a further procedural goal. Yet this list has grown stale. Current environmental realities force all areas of law, including civil procedure, to reckon with climate change. In the future, proceduralists will be forced to integrate climate-aware thinking into their analyses, proposals, and discussions. Predictably, minds will disagree on how to accomplish this and the kinds of trade-offs that are warranted. Yet the fundamental point of …

Shareholder Primacy Versus Shareholder Accountability, William W. Bratton

Seattle University Law Review

When corporations inflict injuries in the course of business, shareholders wielding environmental, social, and governance (“ESG”) principles can, and now sometimes do, intervene to correct the matter. In the emerging fact pattern, corporate social accountability expands out of its historic collectivized frame to become an internal subject matter—a corporate governance topic. As a result, shareholder accountability surfaces as a policy question for the first time. The Big Three index fund managers, BlackRock, Vanguard, and State Street, responded to the accountability question with ESG activism. In so doing, they defected against corporate legal theory’s central tenet, shareholder primacy. Shareholder primacy builds …

Verses Turned To Verdicts: Ysl Rico Case Sets A High-Watermark For The Legal Pseudo-Censorship Of Rap Music, Nabil Yousfi

Seattle University Law Review

Whichever way you spin the record, rap music and courtrooms don’t mix. On one side, rap records are well known for their unapologetic lyrical composition, often expressing a blatant disregard for legal institutions and authorities. On the other, court records reflect a Van Gogh’s ear for rap music, frequently allowing rap lyrics—but not similar lyrics from other genres—to be used as criminal evidence against the defendants who authored them. Over the last thirty years, this immiscibility has engendered a legal landscape where prosecutors wield rap lyrics as potent instruments for criminal prosecution. In such cases, color-blind courts neglect that rap …

Pricing, Decarbonization, And Green New Deals, David M. Driesen, Michael A. Mehling

William & Mary Environmental Law and Policy Review

This Article evaluates an emerging literature claiming that carbon pricing (emissions trading or carbon taxes) has not performed very well and therefore cannot be the basis for the sort of transformative change now required to address the climate crisis. This is an important claim, as carbon pricing has been viewed as being at the heart of global efforts to address one of our most important contemporary problems.

We provide theoretical and empirical support for these critics’ claim that carbon pricing by itself cannot catalyze the technological transformation now required, and that other approaches have done and will likely do better. …

Making Money Green: A Proposal For A Sustainable Stock Exchange, Mary Grace Thurman

William & Mary Environmental Law and Policy Review

Investors crave sustainable business data as a lucrative indicator of long-term business success, yet this demand is not being met by current environmental, social, and corporate governance (“ESG”) investment portfolios, voluntary business disclosure reports, or the Securities and Exchange Commission’s (“SEC”) climate-related rule proposal. Instead, an alternative, voluntary stock exchange premising entry upon satisfaction of industry-specific ESG prerequisites, would directly connect investors with the sustainable investments they desire without requiring them to interpret dense scientific data and decipher which companies exercise positive business practices.

This Article demonstrates that creating an alternative stock exchange for trading solely sustainable businesses would provide …

Rule-In-Use For Community-Based Springs Management Faces Land Use Pressures: Lesson Learned From Manggarai District, Bernadinus Steni, Hariadi Kartodihardjo, Soeryo Adiwibowo, Ruchyat Deni Djakapermana

The Indonesian Journal of Socio-Legal Studies

The struggle for water is one of the greatest immediate risks of the climate crisis. Therefore, the institutional challenge of water management is increasingly urgent and requires a number of consensuses to succeed, including community-based natural resource management (CBNRM). A key challenge to the traditional consensus for water conservation is the increasing need for land conversion due to population growth, which in turn deflects decision-making power away from traditional institutions towards external decision-makers such as regional governments. Using Ostrom's conceptual framework of rules of use, this research examines shifting spring water management in the context of Kabupaten Manggarai. The paper …

The State Of Our Republic: State Constitutions’ Role In Creating A More Perfect Union, Caroline Bullock

CMC Senior Theses

This thesis situates state constitutionalism in the modern context of federal constitutional paralysis. By tracing patterns of state constitutional development, we find that states were always the fundamental setting of democracy, and there has always been critical action happening at state legislatures, in state courts, and through state constitutional change. State constitutions provide an active means to achieve progress and protect rights not federally enshrined (and thus, endangered by the political process). The use of state constitutions to prescribe ways of life, protect individual and specialized rights, and to limit local governments has always occurred, but with the current federal …

Water Challenges At The U.S.-Mexico Border: Learning From Community And Expert Voices, Kyle Haines, Owen Temby, Josiah Heyman, Mya J. Brown, Fonna Forman, Christopher Fuller, Dongkyu Kim, Alex S. Mayer, Alexis Racelis

Political Science Faculty Publications

We discuss the results of a multi-dimensional learning process (expert surveys, community workshops) addressing water challenges at the U.S.-Mexico border. The grand institutional and political framework of the international border, and the tensions and gaps in it, dominates the water literature and expert concerns. However, social inequality and spatial and temporal diversity on both sides of the border emerge as important considerations from community input. Our goal is to make planning for regional water sustainability more comprehensive, both spatially and temporally, and more community responsive in a context of important divisions and inequalities. This is because the “sustainability” frame, as …

Tarnished Gold: The Endangered Species Act At 50, Jonathan H. Adler

Faculty Publications

This Article aims to take stock of the [Endangered Species Act] ESA’s success and failures during its first fifty years, particularly with regard to the conservation of species habitat on private land. While the ESA authorizes powerful regulatory tools for species conservation, there are serious questions as to whether such tools are the most effective means of conserving species and the habitats on which they rely. Given that most species rely upon private land for their survival, the ESA’s ability to foster private land conservation will affect the law’s overall success.

This abstract has been taken from the author's introduction.

Mental Health Education Law: A Statutory Shift Of Responsibility To K-12 Students?, Henry Yat-Shing Kwan

Public Interest Law Reporter

No abstract provided.

An International Law Framework For Climate-Aligned Investment Governance, Martin Dietrich Brauch, Elena Klonsky, Fanny Marie Everard, Qiaozi Guanglin, Tyler Alviano, Justin Cuddihey, Mary Wang

Columbia Center on Sustainable Investment

The January 2024 CCSI Working Paper, An International Law Framework for Climate-Aligned Investment Governance, outlines a framework — and invites and hopes to inspire further thinking, research, and discussion — on how to bridge gaps and build cohesion among various areas of international law relevant to investment in climate mitigation and adaptation. The working paper identifies areas of international law that are or could be relevant to investment governance, highlights points of inconsistency, and proposes a framework to reform and integrate international law with the objective of promoting and facilitating climate investment flows and achieving climate-aligned regulation of investment.

How The International Investment Law Regime Undermines Access To Justice For Investment-Affected Stakeholders, Ladan Mehranvar

Columbia Center on Sustainable Investment

For over a decade now, the international investment law regime, which includes investment treaties and their central pillar, the investor-state dispute settlement (ISDS) mechanism, has been facing sustained calls for reform. These have largely centered on the concerns regarding the high costs of ISDS, the restrictions placed by the investment treaty regime on the right—or duty—of states to regulate in the public interest, and the questionable benefits arising from these treaties in the first place. Several states have taken proactive measures: some have revised investment treaty standards to better protect their regulatory powers; others have introduced new approaches to investment …

The Legal Crisis Within The Climate Crisis, Mark P. Nevitt

Faculty Articles

Climate change creates a difficult choice for property owners and governmental officials alike: Should they invest in costly climate adaptation measures or retreat from climate-exposed areas? Either decision is fraught with legal uncertainty, running headfirst into antiquated legal doctrines designed for a more stable world. Climate impacts to the coastline are forcing policymakers to consider four adaptation tools: (1) resisting climate impacts by building sea walls and armoring the shoreline; (2) accommodating those impacts by elevating existing structures; (3) managed retreat such as systematically and preemptively moving people out of harm’s way; and (4) reactively moving people to new locations …

Climate Risk, Insurance Retreat, And State Response, Mark P. Nevitt, Michael Pappas

Faculty Articles

Climate change is fundamentally destabilizing the private insurance industry, with many high-profile insurance companies exiting states in the face of catastrophic, climate-­induced risk. This rapid "insurance retreat" represents a major market signal in response to climate-exacerbated risks. Private businesses are making actuarial decisions, assessing that some locations are just too vulnerable to insure. At the same time, this insurance retreat also poses a policy challenge for states as they react to the mounting insurance gaps left by exiting private insurers.

This Article analyzes insurance retreat, its attendant policy challenges, and the lessons that can be drawn from state responses. It …

Climatizing National Security, Mark P. Nevitt

Faculty Articles

Is climate change a national security issue? Human security? Ecological security? This Article addresses the growing nexus between climate change and various conceptions of security with a particular emphasis on climate change's national security impacts. This Article argues that there is a growing connection between national security and climate change and a corresponding need to address the normative implications of "climatizing national security." This connection can be observed through three lenses: mitigation (reducing greenhouse gas emissions from military and national security sources); adaptation (investing in climate resilient infrastructure in an effort to prepare for climate impacts), and response (addressing climate-exacerbated …

Environmental War, Climate Security, And The Russia-Ukraine Crisis, Mark P. Nevitt

Faculty Articles

This Article addresses the Russia-Ukraine conflict’s broad implications for energy security, climate security, and environment protections during wartime. I assert that in the short-term the Russian-Ukraine war is poised to hinder much-needed international climate progress. It will stymie international decarbonization efforts and cause greater uncertainty in other climate-destabilized parts of the world, such as the Arctic. While Russia has become a pariah in the eyes of the United States and other Western nations, it has forged new partnerships and capitalized on new, lucrative energy markets outside the West and Global South. But in the long term, the global renewable energy …

Infrastructural (Dis)Entitlement: Tactics Of Dispossession On The Critical Minerals Frontier, Dayna Nadine Scott

Articles & Book Chapters

In Ontario’s far north, settler state authorities and extractive firms are engaged in coordinated tactics to gain ground amid a polarization in the positions of Indigenous leadership. Alongside a surging resistance, we also witness a resigned acceptance of critical minerals mining by some First Nations. Drawing on years of community engaged research, I detail here the contemporary tactics of “infrastructural (dis)entitlement:” in this dynamic, infrastructural needs are both denied and fulfilled to differential effect. Infrastructural disentitlement is passive; it is not necessarily deliberate, nor is it politically or institutionally organized. But infrastructural entitlement is strategic and aggressive: Indigenous prosperity and …

21st-Century Environmental Challenges And Revitalizing Epa Enforcement, David Uhlmann

Articles

This is a profound moment for environmental protection efforts in our country. Over the past half-century, under presidents of both parties, we have made great progress addressing the challenges that led to the enactment of our environmental laws during the 1970s. Our air is cleaner, our rivers and streams are healthier, and we have far fewer hazardous waste sites. We have achieved those successes because of conscientious companies across America who meet their environmental obligations and the vigilance of the U.S. Environmental Protection Agency (EPA) and the Justice Department when companies break the law and put their profits before the …

Fire And Federal Power: Defining The “Furthest Reaches” Of The Property Clause, Brett Lingle

Emory Law Journal

Wildfires pose an immense and escalating threat to national forests. In addition to rising temperatures and accumulating fuels, rapid development of the wildland-urban interface (WUI) has exacerbated wildfire risk by putting more people and property in harm’s way and increasing the likelihood of human-caused fires. While restrictions on WUI development would reduce wildfire risk, varying political and economic pressures have caused substantial variation in how local governments regulate the WUI. Some governments have implemented stringent regulations, while others have permitted unbridled expansion. Such disjointed regulation acutely impacts national forests because WUI homes and communities are often clustered around them. Thus, …