Paul, Hastings, Janofsky & Walker LLP
Climate Impact & Sustainability Data (2010)
Reporting Period: 2010
Environmental Metrics
ESG Focus Areas
- Clean Energy
- Energy Efficiency
- Environmental Protection
Environmental Achievements
- Increased investment in energy efficiency
- Reduced emissions of greenhouse gases
Social Achievements
- Creation of green jobs
- Generated economic activity at the local level
Governance Achievements
- Development of PACE programs with detailed features (e.g., types of improvements permitted, limits on financing and assessments, “underwriting” standards, and consumer and lender risk mitigation features)
Climate Goals & Targets
Environmental Challenges
- Concerns about the constitutionality of PACE programs under the Contracts Clause of the U.S. Constitution and Article XIII D of the California Constitution
Mitigation Strategies
- Legal analysis demonstrating that PACE programs do not violate the Contracts Clause of the U.S. Constitution or Article XIII D of the California Constitution