摩根士丹利：可持续性_美洲 ESG 监管追踪 (2024 年 10 月版)

Investment Rating - The report does not explicitly provide an investment rating for the industry or specific companies. Core Insights - The report highlights significant developments in ESG regulations in North America, particularly focusing on the implications of new laws and guidelines for companies operating in the region [1][2][6]. Summary by Sections ESG Regulatory Developments - The US Supreme Court has allowed President Biden's fossil fuel rule, which includes new federal air pollution regulations targeting methane emissions in the Oil & Gas sector [1]. - California has passed SB-219, amending climate disclosure rules to require companies generating over $1 billion in annual revenues to disclose their GHG emissions starting in 2026 [2]. - The SEC has dissolved its Climate and ESG Enforcement Task Force, which previously focused on enforcing ESG disclosure compliance [2]. Key Legislative Actions - The HR-9801 bill aims to reform the interconnection queue process for US grid operators, facilitating a more efficient review process for clean energy projects [1]. - The Manchin-Barrasso Energy Permitting Reform Act of 2024 seeks to accelerate the permitting process for energy projects, including oil, gas, and renewable energy [1][6]. - The Commodity Futures Trading Commission (CFTC) has approved guidance for trading voluntary carbon credit derivatives, enhancing market transparency [1]. Future Tracking Items - Key items to monitor include the SEC's ESG Disclosures for Asset Managers rule and the EPA's GHG emissions guidelines for existing natural gas power plants, both pending finalization [6]. - Legislative progress on the Manchin-Barrasso Energy Permitting Reform Act and the anti-ESG state regulation landscape is also crucial, as over 75% of states have pending or enacted legislation on ESG [6][12]. International Developments - In Canada, proposed updates to the Environmental Protection Act and new sustainability disclosure standards are under consideration [15]. - Latin American countries like Argentina, Brazil, and Chile are developing sustainable finance taxonomies to enhance transparency and align with international standards [16].