The proposals form part of the Green Deal Industrial Plan and aim to scale up technology and materials for the energy transition. By Paul A. Davies, Beatrice Lo, JP Sweny, Alexander Buckeridge-Hocking, Michael D. Green, and James Bee On 16 March 2023, the European Commission (Commission) formally proposed two legislative initiatives and announced the development … Continue Reading
The Plan aims to “simplify, accelerate and align incentives to preserve the competitiveness and attractiveness of the EU as an investment location for the net-zero industry”[1]. By Paul A. Davies, Michael D. Green, and James Bee On 1 February 2023, the European Commission (Commission) presented a proposal for a Green Deal Industrial Plan for the Net-Zero Age (the … Continue Reading
The plan accelerates already ambitious climate goals for California and charts a course to carbon neutrality by 2045. By Joshua Bledsoe, Jen Garlock, and Brian McCall On December 15, 2022, the California Air Resources Board (CARB) adopted its Final 2022 Scoping Plan for Achieving Carbon Neutrality (Final Scoping Plan). Assembly Bill (AB) 32 requires CARB … Continue Reading
The 2020 wildfire season alone released more carbon dioxide than what California reduced through years of emission cuts. By Marc Campopiano and Joshua Bledsoe California is a recognized leader in climate policy, but a wildfire crisis is threatening to unwind progress towards the state’s ambitious climate goals. In 2006, with the passage of AB 32, … Continue Reading
Extensive negotiations focused on finalizing the details of a “rulebook” for an international carbon market under Article 6 of the Paris Agreement. By Jean-Philippe Brisson, Paul A. Davies, Sarah Fortt, Betty M. Huber, Michael Dreibelbis, and Qingyi Pan The 27th annual Conference of Parties (COP27) of the United Nations Framework Convention on Climate Change (UNFCCC) … Continue Reading
The adopted position would mean that financial institutions fall under the remit of the regulation, requiring them to conduct additional due diligence on both established and new customers. By JP Sweny, Michael Green, James Bee, and Vanessa McLellan On 13 September 2022, the European Parliament voted to adopt its position in relation to the European … Continue Reading
California continues to push toward its statewide carbon-neutrality goals. By Arthur F. Foerster and Joshua Bledsoe On August 25, 2022, the California Air Resources Board (CARB) unanimously approved regulations that require all new 2035 and later passenger vehicles to be zero-emission vehicles. The agency’s “Advanced Clean Cars II” regulations require manufacturers to deliver an increasing … Continue Reading
Governor Newsom introduces five ambitious proposals that could alter California’s climate policy for years to come. By JP Brisson, Nikki Buffa, Marc Campopiano, Jennifer Roy, Michael Dreibelbis, Aron Potash, and Alicia Robinson On August 12, 2022, California Governor Gavin Newsom submitted five climate proposals (the Climate Proposals) to the California legislature in the waning days … Continue Reading
The second version includes guidance on metrics and how companies can conduct dependency and impact evaluation. By Paul A. Davies, Michael D. Green, Austin J. Pierce, and James Bee On 28 June 2022, the Taskforce on Nature-related Financial Disclosures (TNFD) released version 0.2 of its framework for nature-related risk and opportunity management and disclosure (the Framework). The announcement … Continue Reading
The system aims to stimulate innovation in GHG-reduction activities as part of the country’s 2030 Emissions Reduction Plan. By JP Brisson, Michael Dreibelbis, and Alicia Robinson On June 8, 2022, Canada launched the Greenhouse Gas (GHG) Offset Credit System (the System) to create a “market-based incentive to undertake innovative projects that reduce greenhouse gases.”[1] The … Continue Reading
The decision will limit EPA’s options for future regulation of existing power plant GHG emissions and may have broader implications for other federal agency rulemakings. By Stacey L. VanBelleghem, Karl A. Karg, and Malorie R. Medellin On June 30, 2022, the US Supreme Court issued its long-awaited ruling in West Virginia v. EPA — the … Continue Reading
CARB addresses California’s increasingly severe climate impacts. By Joshua T. Bledsoe and Kevin Homrighausen On May 10, 2022, the California Air Resources Board (CARB) released its Draft 2022 Scoping Plan Update (Draft Scoping Plan) for public review and comment. Assembly Bill 32, the California Global Warming Solutions Act of 2006, requires CARB to develop and … Continue Reading
CARB doubles down on LCFS Program and liquid transportation fuels. By Joshua T. Bledsoe and Jennifer Garlock On May 10, 2022, the California Air Resources Board (CARB) released its Draft 2022 Scoping Plan Update (Draft Scoping Plan) for public review and comment. Assembly Bill (AB) 32, the California Global Warming Solutions Act of 2006 (AB … Continue Reading
CARB opts to stay the course on Cap-and-Trade Program. By Joshua T. Bledsoe, Michael Dreibelbis, and Alicia Robinson On May 10, 2022, the California Air Resources Board (CARB) released its Draft 2022 Scoping Plan Update for public review and comment. Assembly Bill (AB) 32, the California Global Warming Solutions Act of 2006 (AB 32), required … Continue Reading
The Draft 2022 Scoping Plan Update takes an all-of-the-above approach to decarbonize California. By Joshua T. Bledsoe and Brian McCall On May 10, 2022, the California Air Resources Board (CARB) released its Draft 2022 Scoping Plan Update for public review and comment. Originally, the California Global Warming Solutions Act of 2006 required CARB to develop … Continue Reading
CCUS and clean hydrogen will play a significant role in the Administration’s efforts to address hard-to-decarbonize industries to promote clean US manufacturing. By Janice Schneider, Nikki Buffa, and Kevin Homrighausen On February 15, 2022, the White House announced important actions in furtherance of the Biden Administration’s broader decarbonization goals — this time with an eye … Continue Reading
If adopted, the Senate bill would require large US companies doing business in California to report Scopes 1, 2, and 3 emissions as of January 2024. By Jean-Philippe Brisson, Marc T. Campopiano, Jennifer K. Roy, Joshua T. Bledsoe, Julie Miles, and Alicia Robinson The California Legislature is considering a bill to impose corporate sustainability reporting … Continue Reading
The world’s largest asset manager stressed that sustainability issues will continue to be fundamental to companies’ long-term economic outlook. By Paul A. Davies, Michael D. Green, and James Bee On 17 January 2022, Larry Fink, the founder and chief executive of BlackRock, published his annual Letter to CEOs (the Letter), titled “The Power of Capitalism”. … Continue Reading
Market participants can expect the initiative’s proposals to offer guidance on setting targets for emissions reduction and decarbonisation. By Paul A. Davies, Michael D. Green, and James Bee On 12 January 2021, the Science Based Targets initiative (SBTi) published its “SBTi Climate Action in 2022” proposals (the 2022 Proposals), highlighting the areas that the organisation is seeking to work … Continue Reading
The president’s executive order aims to use the US government’s procurement power to achieve “carbon pollution-free electricity” by 2030 and net zero emissions by 2050. By Jennifer Roy and Julie Miles On December 8, 2021, President Biden issued an Executive Order on Catalyzing Clean Energy Industries and Jobs Through Federal Sustainability (EO), which aims to set … Continue Reading
Corporate reporting (including SEC developments), climate change, energy transition, supply chain management, and the mitigation of ESG-related litigation risk are expected to be the leading ESG themes of this year. By Paul Davies, Nicola Higgs, Sophie Lamb QC, Ryan Maierson, Colleen Smith, Michael Green, Edward Kempson, James Bee, and Anne Mainwaring As expected, 2021 saw … Continue Reading
A multistate cap-and-invest program to reduce carbon emissions from the transportation sector is dead after several participating states pulled out. By Jean-Philippe Brisson, Joshua T. Bledsoe, Benjamin Einhouse, and Brian McCall Less than one year ago, the governors of Massachusetts, Rhode Island, and Connecticut, as well as the mayor of the District of Columbia, announced … Continue Reading
The Glasgow conference was praised as a huge step forward in tackling climate change, but also drew criticism for not going far enough. By Jean-Philippe Brisson, Paul A. Davies, Michael D. Green, and James Bee Between 31 October and 12 November 2021, Glasgow hosted the 26th annual Conference of Parties (COP26) to the United Nations … Continue Reading
The guidance offers clarification on key aspects of the TCFD’s recommendations on climate reporting. By Paul A. Davies, Michael D. Green, and James Bee On 14 October 2021, the Task Force on Climate-related Financial Disclosures (TCFD) released a new guidance document on climate-related metrics, targets, and transition plans (the Guidance). The Guidance seeks to support … Continue Reading
