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Read about the Inflation Reduction Act of 2022 enacted August 16, 2022, which extends and expands existing tax credits and adds several new energy tax credits to encourage the production of electricity using clean energy and the reduction of carbon emissions.

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There is no “one size fits all” approach with respect to board responsibility for ESG oversight, say Mintz attorneys Megan Gates, Jacob Hupart, and Jen Rubin. Some may form a new committee, some may give the duties to an existing committee, or still others might have each board member assume all ESG responsibilities. In any case, they say, investors are raising the stakes on ESG matters.

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Mintz Member and Chair of the firm’s Energy & Sustainability Practice Tom Burton was quoted in an article published by Law360 on the increasing number of businesses going public as “public benefit corporations,” which is a legal designation that signals a company's commitment to goals beyond maximizing profits. Mr. Burton said that “we’re in the early days of a real and substantial trend,” and called it a “critical and fundamental change" away from the idea of shareholder primacy.
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