Environment, Land & Resources

Australian Government Faces Class-Action Over Failure to Disclose Climate Change Risks

Posted in Environmental Litigation

The pioneering case seeks an injunction to restrain the government from further promoting exchange-traded bonds until it complies with its duty of disclosure.

By Paul A. Davies and Michael D. Green

miningOn 22 July 2020, investors filed a class-action claim against the Australian government, alleging that it failed to disclose material climate change risks relating to its bonds (O’Donnell v. Commonwealth and Ors). The claim is thought to be the first of its kind against a national government. Continue Reading

UK Carbon Pricing Updates: UK Emissions Trading System and Carbon Emissions Tax Consultation

Posted in Environmental Litigation

The government provides further details on UK carbon pricing after Brexit.

By Paul A. Davies and Michael D. Green

On 14 July 2020, the UK government published the draft Greenhouse Gas Emissions Trading Scheme Order 2020 (the Order), establishing a framework for the potential UK Emissions Trading System (UK ETS). Subsequently, on 21 July 2020, the government published a consultation on the operation of a potential new carbon emissions tax. Continue Reading

CEQA Case Report: 2019 Year in Review

Posted in California, CEQA, Environmental Litigation, Environmental Regulation

Public agencies prevailed in 71% of CEQA cases analyzed.

By James L. Arnone, Daniel P. Brunton, Marc T. Campopiano, Shivaun A. Cooney, Benjamin J. Hanelin, John C. Heintz, Maria Pilar Hoye, Aron Potash, and Winston P. Stromberg

Latham & Watkins is pleased to present its third annual CEQA Case Report. Throughout 2019 Latham lawyers reviewed each of the 45 California Environmental Quality Act (CEQA) appellate cases, whether published or unpublished. Below is a compilation of the information distilled from that review and a discussion of the patterns that emerged from those cases. Latham has continued to monitor CEQA cases throughout 2020 and regularly posts key summaries to this blog. Continue Reading

EU Commission’s Sustainable Finance Taxonomy Enters Into Force

Posted in Environmental Litigation

The sustainable finance classification system entered into force on 12 July 2020, providing a framework for other green initiatives.

By Paul A. Davies and Michael D. Green

On 12 July 2020, the EU’s regulation on the establishment of a framework to facilitate sustainable investment (the Taxonomy Regulation) entered into force, after several years of planning and deliberation. The EU Commission (the Commission) initially proposed an action plan on financing sustainable growth in March 2018. Action 1 of the plan called for the establishment of an EU classification system for sustainable activities (the Taxonomy). Subsequently, in May 2018, the Commission proposed the Taxonomy Regulation, as reported on in a previous blog post. Continue Reading

EU Commission Launches Consultation on Green Bond Standard

Posted in Environmental Litigation, Environmental Regulation

The consultation aims to gather technical input from stakeholders in the green bond market before finalising an EU GBS.

By Paul A. Davies, Michael D. Green, and Aaron E. Franklin

On 12 June 2020, the European Commission (the Commission) published a targeted consultation document on the establishment of an EU Green Bond Standard (EU GBS). The Commission has committed to the establishment of an EU GBS as part of its broader Action Plan on Financing Sustainable Growth (the Action Plan), and hopes that the promulgation of an official EU standard will help address some of the barriers it has identified in the current green bond market. Continue Reading