On November 16, Illinois enacted the Reimagining Electric Vehicles Act (REV Act) which states that its purposes include “reduc[ing] carbon emissions, creat[ing] new good-paying jobs, and generat[ing] long-term economic investment in the Illinois business economy.”

The REV Act provides income tax credits for electric vehicle (EV) manufacturers, including EV parts suppliers such as battery and charging station manufacturers, tax credits for costs to train new or retained employees, and a suite of other tax incentives.

According to the Governor’s Office, the new law is intended to attract new manufacturers to Illinois while incentivizing existing manufacturers to invest in their Illinois facilities and employees in order to position Illinois as a national leader in EV and battery production.
Continue Reading Illinois Sets Course for EV Manufacturing in Illinois

As part of the Biden administration’s 100-day evaluation of U.S. supply chains, in June the Department of Defense (DoD) issued its review of certain “strategic and critical materials” that are key ingredients in electronics and green technologies. Supply chain resiliency is an increasingly important area of Environmental, Social, and Governance (ESG) focus for companies and stakeholders alike, and the DoD’s review has implications for ESG reporting.
Continue Reading How Manufacturers Can Improve Supply Chain Sustainability Based on New DoD Recommendations

Last week, the U.S. Securities and Exchange Commission (SEC) announced the creation of a new 22-person Climate and Environmental, Social, and Governance (ESG) Task Force in its Division of Enforcement, a notable development in a series of recent steps taken by the Biden administration focused on increasing ESG accountability.
Continue Reading New SEC Task Force Further Demonstrates Biden Administration’s Sharp Focus on Climate and ESG Issues