Energy and Utilities Law Commons^™

Dark Accounting Matter, Colleen Honigsberg

Seattle University Law Review

Physicists calculate that approximately 85% of the matter in the universe is composed of “dark matter” that “does not absorb, reflect, or emit electromagnetic radiation and is therefore difficult to detect.” The S&P 500 currently trades at a price-to-book value of 4.2, suggesting that book value accounts for less than 20% of the S&P 500’s market value. The remaining 80% appears nowhere in these firms’ balance sheets—it is invisible to contemporary accounting techniques and constitutes “dark accounting matter.”

Some “dark accounting matter” is composed of factors commonly described as components of “ESG.” Human capital, for example, is an intangible asset …

The Employees’ Dilemma: Balancing Internal Reporting, Whistleblowing, And Insider Trading Risks, Geeyoung Min

Seattle University Law Review

The Essay examines how recent developments in insider trading regulations and whistleblower reward programs can lead to unintended and counterproductive results of discouraging employees from using internal reporting channels within corporate compliance programs. While the presence of a robust and well-functioning corporate compliance program is a critical factor both in mitigating the level of public enforcement actions against companies and in protecting corporate managers from liability in private litigation, these programs often provide little incentive for employees to report potential misconduct internally.

Corporate compliance programs are designed to promote the upward information flow within the company, which is essential for …

How The Antidiscrimination Law Of Commercial Transactions Really Works, Helen Norton

Seattle University Law Review

A variety of businesses now cite 303 Creative when seeking First Amendment protection for their refusal to serve certain customers based on those customers’ protected class status. How this litigation will play out remains to be seen. But future courts need not, and should not, repeat the 303 Creative Court’s misunderstanding of how the antidiscrimination law of commercial transactions actually works.

Part I of this Essay explains the Court’s longstanding understanding of the antidiscrimination law of commercial transactions, and then describes the Court’s failure to engage with this precedent in 303 Creative. Part II then identifies the 303 Creative decision’s …

The Real Story Of Nepa Litigation In Clean Energy Permitting, Anna Mance

Faculty Journal Articles and Book Chapters

Environmental protections and the processes of the administrative state are under attack. In recent years, the National Environmental Policy Act (NEPA) has drawn outsized criticism from across the political and legal spectrum as a major impediment to climate friendly infrastructure and the clean energy transition. NEPA enables private groups to challenge development through litigation. Critics are moving to strip public oversight over federal permitting based on claims that these private groups bring largely frivolous environmental claims to court, driving up costs for developers and delaying progress responding to climate change. But is this really true?

Drawing on an original dataset …

Green Dividends: A Case Study In Green Dividends And The Conditions For Private Ordering Solutions, Anne M. Tucker

Seattle University Law Review

This Essay introduces a novel private ordering solution to facilitate corporate investments in pro-social and environmental initiatives: Green dividends. Green dividends are an optional increase in shareholder dividends that are returned to the company to be reinvested in environmental initiatives or kept by a shareholder.

Green dividends pose an alternative to the current gridlocked debate that corporations can’t, won’t, shouldn’t, and shouldn’t even try to act in pro-social or environmental ways. Turning the common refrains on their head converts each narrative into an element for a successful private ordering solution: authority, accountability, shareholder buy-in, and government- backed enforcement. With Green …

Does Climate Disclosure Work To Reduce Greenhouse Gas Emissions? Emerging Evidence Suggests Cautious Optimism, Cynthia A. Williams

Seattle University Law Review

Significant regulatory resources have been spent developing global, voluntary climate and sustainability disclosure standards, such as the TCFD, TNRD, and ISSB’s Sustainability and Climate Disclosure standards, or domestically required disclosures, such as in the EU and in the U.S. Thus, it is important to evaluate whether this disclosure, particularly voluntary, qualitative disclosure, will have the power to shift the allocation of capital, will have a significant effect on the management of climate risk within firms, and ultimately will reduce climate change risk and biodiversity loss.

In this Article, several interrelated questions will be discussed. First, what does the empirical evidence …

Into The Legal “Twilight Zone”: State Tenth Amendment Jurisdiction Displacing Climate Supremacy, Steven Ferrey

Lewis & Clark Law Review

The Supremacy Clause of the Constitution notwithstanding, western states have utilized their reserved Tenth Amendment Constitutional authority, upheld by federal circuit courts, arbitrarily to block their adjacent states’ sustainable infrastructure to address climate change. The Biden Administration set in motion a rapid electrification of the entire U.S. economy via three different new laws enacted sequentially in 2021, 2022, and 2023. A re-directed federal executive branch now oversees these programs and laws. This Article analyzes how each of those three laws suffers from a critical omission plaguing this most significant infrastructure program in the last half century—now forecast counter-intuitively by some …

The Public Trust Doctrine And Lake Abert: Saving Oregon’S Only Salt Lake, Joseph Arzt

Lewis & Clark Law Review

The public trust doctrine creates a relationship between states and their citizens under which the states are entrusted with protecting natural resources for public use. Though Oregon recognizes the public trust doctrine, recent decisions from Oregon’s Supreme Court have displaced and fractured this doctrine, leaving the current legal landscape surrounding the public trust doctrine in disarray. This Note focuses on Lake Abert, Oregon’s only saline lake, which in recent years, due to mismanagement and neglect, has undergone dramatic ecological shifts. By looking at arguments rooted in Oregon’s Constitution, as well as judicial approaches taken in neighboring states, this Note examines …

Administrative Forum Shopping, Amy L. Stein

UF Law Faculty Publications

Allowing private parties in litigation to stack the deck in their favor through forum shopping is standard fare in the United States. But not everyone realizes that public legislators engage in a similar exercise when they stack the deck in one party’s favor through “jurisdiction-stripping” or “jurisdiction-channeling” provisions. Congress can strip federal courts of all or some of its jurisdiction, channel jurisdiction over a particular class of cases into one particular court, and even strip the U.S. Supreme Court of its appellate jurisdiction. Understandably, this last category has received the most attention, as scholars are drawn to the penultimate conflict …

Renewable Energy Federalism 2.0, Danielle Stokes

Law Faculty Publications

Much like climate change, the clean energy transition presents a “super wicked” problem that is further complicated by prioritizing justice. History has taught us that government regulation, industry innovation, and community engagement are the catalysts of effective transitions. Similarly, the just energy transition requires the support of these interconnected networks. This Essay offers sustainable collaborative governance as a theoretical framework through which decision-makers may filter their assessments, industry can model its metrics, and community can develop language to articulate its needs. Sustainable collaborative governance is also a means of navigating the complexities of renewable energy siting and regulation while fostering …

Zoning The Subsurface, Hannah Jacobs Wiseman, Anne Menefee, Seth Blumsack, Michael Helbing

Faculty Scholarship

The vast rock formations underlying the United States stand at an important Demsetzian turning point, at which the externalities of inadequately defined property rights justify the costs of solidifying formal property rights for this resource. This need arises from the growing scarcity of pore space (tiny openings) in subsurface rocks—property that is critical to address climate change. Efforts to mitigate and adapt to climate impacts require large-scale underground storage of carbon dioxide, water, and energy within the pore space of subsurface reservoirs. The subsurface will also continue to house millions of miles of pipelines, hundreds of thousands of waste disposal …

Artificial Intelligence And Energy Democracy, Joel B. Eisen, Heather E. Payne

Law Faculty Publications

Artificial intelligence (AI) is quickly transforming many professional activities, and the electric grid has already started to see adverse impacts from its use, such as the burgeoning demand for electricity from data centers. This Article acknowledges these impacts, but also demonstrates that AI can be put to beneficial use on the grid. It proposes and describes a specific use of AI: assisting citizen intervenors in public utility commission (PUC) proceedings, who currently face barriers to participation due to the technical complexity and confidentiality imposed by monopoly utilities. The Article describes how AI can assist intervenors to overcome the barriers to …

Trump Has A Point On Trade, William Snape

Scholarly Articles in Law Reviews & Journals

No abstract provided.

Administrative Forum Shopping, Amy L. Stein

Fordham Law Review

Allowing private parties in litigation to stack the deck in their favor through forum shopping is standard fare in the United States. But not everyone realizes that public legislators engage in a similar exercise when they stack the deck in one party’s favor through “jurisdiction-stripping” or “jurisdiction-channeling” provisions. Congress can strip federal courts of all or some of its jurisdiction, channel jurisdiction over a particular class of cases into one particular court, and even strip the U.S. Supreme Court of its appellate jurisdiction. Understandably, this last category has received the most attention, as scholars are drawn to the penultimate conflict …

Living The Good Life In The Anthropocene, Danielle Stokes

Law Faculty Publications

The Stockholm Resilience Centre has concluded that the number of “planetary boundaries” we are crossing has increased from three in 2009, when the Centre’s researchers first introduced the concept, to six in 2023. Crossing these boundaries means humans are changing basic attributes of planetary systems to the point of risking the future of civilization. And the distinction between “safe” and “just” planetary boundaries raises questions regarding how to conceptualize the “good life.” In this latest in a biannual series of essays, members of the Environmental Law Collaborative explore conceptions of the “good” as well as the various elements necessary to …

Volume 48 Masthead, Seattle University Law Review

Seattle University Law Review

Volume 48 Masthead

Voting Matters: Materiality Considerations And The Shareholder Vote, Renee M. Jones

Seattle University Law Review

For the shareholder franchise to have meaning, shareholders must have access to relevant information to inform their voting decisions. The securities laws’ disclosure requirements play an essential role in informing the shareholder vote.

This Essay focuses on the question of the materiality of information in the context of shareholder voting. It addresses the question of whether ESG-related information is material, positioning the materiality inquiry within the context of shareholders’ voting decisions. It explores the definition of materiality with a focus on the “reasonable investor” concept embedded within the definition. The Essay argues that the implicit expectations of many commentators that …

Volume 48 Masthead, Seattle University Law Review

Seattle University Law Review

Volume 48 Masthead

Understanding The Big Three’S Wavering Support Of Environmental And Social Shareholder Proposals, Jeff Schwartz, Jefferson Jensen

Seattle University Law Review

Because of their substantial equity portfolios, BlackRock, Vanguard, and State Street (the Big 3) are central players in corporate governance. It is, therefore, critical to understand how they vote. One puzzle is that their support for shareholder proposals on environmental and social matters appears to waiver. In 2020, for instance, BlackRock supported 11.1% of environmental proposals at S&P 500 firms. In 2021, it seemingly reversed course, supporting 55.2%. It then flipped again, supporting 32.1% in 2022. Such statistics suggest that the Big 3 are constantly changing their views on these topics. This Article seeks to better understand whether this is …

Volume 48 Masthead, Seattle University Law Review

Seattle University Law Review

Volume 48 Masthead

The Law Of Energy Abundance, Alexandra B. Klass, Matthew Appel

Articles

For the first time in decades, electricity demand in the United States is increasing due to the growth of data centers to power artificial intelligence, new manufacturing hubs, and transportation electrification. At the same time, coalfired power plants have been closing in response to competition from lower cost natural gas and renewable energy. Clean energy is being rapidly deployed to replace fossil fuels but not quickly enough to address concerns about demand growth and grid reliability. Accordingly, there is a growing imbalance between electricity supply and demand in many regions of the country that threatens to increase electricity prices and …

Reckoning With Social Policy In Utility Regulation, Alexandra B. Klass, Gabriel Chan

Articles

State public utility regulation in the energy sector is undergoing a rapid transformation driven by public and private investment in clean energy deployment, the corresponding threat to incumbent fossil fuel interests, and growing demands for energy justice. This transformation will impact many aspects of societal well-being—from energy insecurity in disadvantaged communities to dramatic shifts in energy-sector employment—so it is unsurprising that public utility commissions would engage with social policy concerns. However, for decades, state courts and utility stakeholders have admonished commissions that they are economic regulators and that their jurisdiction does not include social policy. This Article shows that state …

Yellowstone National Park's Record Of Decision On Bison Management, Lila Bennett

Public Land & Resources Law Review

Bison herds once roamed the American Plains by the millions and were a staple in the lives of Native Americans. By the late 1800’s, bison were nearly extinct due to the westward expansion of European settlers and over hunting. Now, there is a population of merely 30,000 wild bison in North America. Although bison no longer face threats of immediate extinction, wild herds face stark realities of disease, habitat loss, and genetic degradation.

Schutter V. State Board Of Land Commissioners, Gillian P. Ellison

Public Land & Resources Law Review

In Schutter v. State Board of Land Commissioners, the Montana Supreme Court addressed the State’s fiduciary obligation in the context of water rights appurtenant to school trust lands. Central to the Court’s holding was the State’s fiduciary duty in managing lands held in trust for the benefit of the State. By upholding the State’s claim to partial ownership of a water right originating on private land, the Schutter Court underscored the tension between private property rights and the State's trust fiduciary duties.

Flathead-Lolo-Bitterroot Citizen Task Force V. Montana, Sarah J. Leopard

Public Land & Resources Law Review

Flathead-Lolo-Bitterroot Citizen Task Force v. Montana evaluates the efficacy of the proposed 2024 gray wolf floating season in preventing harm to grizzly bears, a protected species in Montana. The Court of Appeals for the Ninth Circuit affirmed the implementation of a “serious questions” test for preliminary injunctions that is specific to Endangered Species Act cases. The Court agreed with the district court’s grant of a preliminary injunction that limited the 2024 floating season temporally, but modified the injunction in two respects, thereby narrowing its application. The Court’s holding signifies the continuation of a preliminary injunction standard that values protections for …

Corner Post V. Board Of Governors Of Federal Reserve System, Alexis Karbowicz

Public Land & Resources Law Review

Corner Post v. Board of Governors of the Federal Reserve System resolved a circuit split on when claims against the federal government “accrue” under 28 U.S.C.A. § 2401(a). The Supreme Court clarified whether plaintiffs must file challenges within six years of a regulation’s enactment or may wait until they are directly affected by an agency action, even if that occurs years later. Examining the case’s factual and procedural background provides insight into the relevant regulatory context. The Court’s analysis offers a detailed interpretation of statutory language and establishes principles of claim accrual, alongside the policy considerations of regulatory finality and …

The Biopiracy Of Traditional Knowledge In United States Patent Law, Hannah Green

Public Land & Resources Law Review

The United States intellectual property (“IP”) system is deeply intertwined with our country’s history and constitution. t is foundational in favoring young American inventors. George Washington signed the first patent act in 1790 in hopes of promoting the innovation and progress of science and useful arts. Yet, our patent system was also built around the Western tradition of individualism and competition, which failed to recognize the communal nature and traditional knowledge of tribal communities. This disparity allows the biopiracy of traditional knowledge to be lawful. This comment will explore the harmful toll that United States patent law has taken on …

The Blm's Public Lands Rule And "Periodic Adjustments In Use To Conform To Changing Needs And Conditions" Under The Federal Land Policy And Management Act, Jamie Pleune

Pace Environmental Law Review

On May 9, 2024, the Bureau of Land Management (BLM) finalized new regulations, cumulatively referred to as the “Public Lands Rule.” According to the preamble for the rule, the purpose of the regulations is “to advance the BLM’s multiple use and sustained yield mission by prioritizing the health and resilience of ecosystems across public lands.” When making land management decisions, the definition of multiple use requires the BLM to take into account “the long-term needs of future generations.” Those resource needs include “recreation, range, timber, minerals, watershed, wildlife and fish, and natural scenic, scientific and historical values.” Despite this directive, …

Community Benefits And Alternative Energy Infrastructure Siting, Edward W. De Barbieri

Pace Environmental Law Review

This essay studies the increasing use of community benefits frameworks in the siting of alternative energy infrastructure. It begins with a discussion of the community benefits agreement movement, the types of agreements that fall under the community benefits agreement frame, as well as the use of community benefits agreements at local law, and in different geographic contexts. Next, it introduces the increasing use of community benefits legal tools in the context of wind energy infrastructure siting. The second part of this essay presents an example of an agreement to share community benefits particularly in the context of federal subsidies through …

Expanding The Toolbox Of Sustainable Business Law: The Transnational Impacts Of The Eu Corporate Sustainability Due Diligence Directive (Csddd), Anne-Marie Weber

Pace Environmental Law Review

The contemporary global economy relies extensively on interconnected value chains that often span different continents, presenting challenges when operations result in human rights violations or environmental damage. This has prompted the emergence of non-binding due diligence guidelines and binding laws in several countries, reflecting the necessity of fostering accountability in transnational business activities. The European Union’s adoption of the Corporate Sustainability Due Diligence Directive (CSDDD) on May 24th, 2024, represents a novel significant milestone in this trajectory. As a new instrument of binding transnational business law, the CSDDD aims to promote sustainable business practices, with implications extending beyond EU borders. …