The FRC prompts boards, companies, and auditors to improve responses to climate change challenges through improved governance structure and narrative reporting. By Paul A. Davies and Michael D. Green On 10 November 2020, the Financial Reporting Council (FRC) published its findings (the Report) on its thematic review undertaken in 2020, concerning climate-related considerations that various … Continue Reading
The Initiative aims to promote sustainability in both the batteries value chain and the growing electric vehicle market. By Paul A. Davies and Federica Rizzo On 28 May 2020, the European Commission (EC) published its Inception Impact Assessment (IIA) to modernize the EU’s batteries legislation, in particular Directive 2006/66/EC of 6 September 2006 on batteries … Continue Reading
The proposals outline the potential new UK system after Brexit, which could be linked to the EU Emissions Trading System. By Paul Davies and Michael Green On 1 June 2020, the UK’s Department for Business, Energy and Industrial Strategy (BEIS) published proposals outlining a new UK-wide Emissions Trading System (UK ETS) contained within a response … Continue Reading
A recent federal court decision in Utah renews the question of whether defeat device and tampering prohibitions constitute “an emission standard or limitation”. By Arthur F. Foerster A non-profit citizen group, Utah Physicians for a Healthy Environment, is seeking nearly US$1.5 million in costs and attorneys’ fees after successfully prosecuting a citizen action in Utah federal … Continue Reading
Governments are under pressure to ensure that any financing used to assist the economic recovery from COVID-19 embeds climate change policy. By Paul A. Davies and Michael D. Green The economic impact of COVID-19 has required unprecedented state intervention and support for companies and individuals in countries around the world. Now, certain climate policy advisors … Continue Reading
The EU Commission aims to enshrine into law the 2050 climate-neutrality target and has taken further steps to establish a unified EU “green” classification system. By Paul A. Davies, Michael D. Green, and Federica Rizzo The European Green Deal, presented on 11 December 2019, provides a roadmap with actions aimed at boosting the efficient use of resources and the … Continue Reading
The Action Plan is part of the European Green Deal promoting actions to boost the efficient use of resources by moving to a cleaner and more competitive Europe. By Paul A. Davies, Michael D. Green and Federica Rizzo On 11 March 2020, the European Commission published its Communication to the European Parliament, the Council, the European … Continue Reading
The Airports National Policy Statement is ruled illegal as a result of government failure to take account of its Paris Agreement commitments. By Paul A. Davies and Michael D. Green In R (Plan B Earth and Others) v. Secretary of State for Transport and others, the Court of Appeal in England (the Court) heard an … Continue Reading
Policy makers and regulators seem keen to adopt both a “carrot” and “stick” approach to channelling private finance sustainably. Financial services regulators have been particularly vocal in the last 12 months, specifically about the impact on the financial services sector as the world experiences, and attempts to respond to, climate change. Mark Carney, outgoing governor … Continue Reading
The European Commission has also established a mechanism to assist the transition of regions that will be more profoundly impacted by the 2050 carbon-neutrality target. By Paul A. Davies and Michael D. Green On 11 December 2019, the European Union announced that it would enshrine into legislation its goal to achieve carbon neutrality by 2050 … Continue Reading
Governments as well as investors and companies will continue to actively address environmental, social, and governance issues this year. By Paul A. Davies, James R. Barrett, Michael D. Green, Aaron E. Franklin, and Kristina S. Wyatt Environmental, social, and governance (ESG) was more prominent than ever in 2019, as issues such as climate change and … Continue Reading
Court finds the Netherlands’ 20% greenhouse gas emissions target to be unacceptable, citing the UN Framework Convention on Climate Change and the ECHR. By Paul A. Davies and Michael D. Green On 20 December 2019, the Dutch Supreme Court upheld the Court of Appeal ruling in the Urgenda case, determining that the Dutch State was … Continue Reading
Ship owners face increased compliance costs with lowering of sulphur oxide limit for shipping fuels. By Paul A. Davies and Michael D. Green January 1, 2020 marked the implementation of the new sulphur oxide limit for shipping fuel imposed by the International Maritime Organisation under the MARPOL Convention, often referred to as IMO 2020. IMO … Continue Reading
Non-governmental organizations release new studies and reports on new developments in carbon capture, usage, and storage technology. By Jean-Philippe Brisson, Christopher G. Cross, Paul J. Hunt, Eli M. Katz, Joshua T. Bledsoe, Benjamin W. Einhouse, and Taylor R. West At the 25th annual Conference of Parties (COP 25) United Nations Climate Summit, held in December … Continue Reading
Analysing whether the new Green Deal policies will help the EU achieve climate neutrality. By Paul A. Davies and Michael D. Green On 11 December 2019, the European Commission adopted the European Green Deal (Green Deal), initially proposed earlier in the year by the Commission’s President Ursula von der Leyen. The Commission also presented a … Continue Reading
Under the TCI program, fuel suppliers would be required to hold allowances to cover their reported emissions. By Jean-Philippe Brisson, Joshua T. Bledsoe, and Benjamin W. Einhouse The Transportation & Climate Initiative (TCI), a regional collaboration of Northeast and Mid-Atlantic states and the District of Columbia, has advanced its program to reduce greenhouse gas (GHG) … Continue Reading
A local air district is developing a rule that would require both existing and proposed warehouses to reduce trucking emissions or pay a mitigation fee. By Joshua T. Bledsoe The South Coast Air Quality Management District (SCAQMD or District) is developing a so-called Indirect Source Rule (ISR) that would require Southern California warehouses to reduce … Continue Reading
The legislation includes six key measures to cut greenhouse gas emissions and to reach carbon neutrality by 2050. By Paul A. Davies and Michael D. Green The French Parliament has adopted a new climate energy package to tackle the effects of climate change and boost France’s energy transition endeavors to reach carbon neutrality by 2050. … Continue Reading
Technical Expert Group recommends minimum requirements for two new benchmarks. By Paul A. Davies and Michael D. Green On 30 September 2019, the EU Technical Expert Group on Sustainable Finance (TEG) published its final report on climate benchmarks and environmental, social, and governance (ESG) disclosures (the Report), as well as a summary of the Report. … Continue Reading
The Programme includes a new CO2 pricing regime aimed at emissions caused by the building sector and by traffic and transport. By Jörn Kassow On 20 September 2019, the German government adopted the Climate Action Programme 2030, a plan to ensure that Germany achieves its climate protection goals for 2030, including a reduction of greenhouse … Continue Reading
CARB’s revised discussion draft removes a previously proposed de minimis exemption for owners of SF6 GIE. By Aron Potash and Christopher C. Antonacci On August 15, 2019, California Air Resources Board (CARB) staff published a revised discussion draft (Revised Draft) of potential changes to the Regulation for Reducing Sulfur Hexafluoride Emissions from Gas Insulated Switchgear … Continue Reading
The public consultation on adjusting the GHG emission allowance auction process for 2021-2030 is open for comment until August 6. By Joern Kassow and Alexander Wilhelm In order to deepen cooperation in the energy sector and to build up a stronger Energy Union, the European Parliament and the Council revised Directive 2003/87/EC (ETS Directive) in … Continue Reading
Proposed revisions to the Equator Principles 3 include human rights, social risk, and climate change. By James Barrett, Paul A. Davies, Joel H. Mack, and Michael D. Green The Equator Principles Association (EP Association) recently released the draft text of the Equator Principles (EPs) version 4 (EP4). The EP Association intend the draft text to … Continue Reading
Banks to disclose climate alignment of shipping portfolios with IMO’s strategy of 50% emissions reduction by 2050. By Paul A. Davies and Michael D. Green On June 18, 2019, a group of 11 banks — including Citi, Societe Generale, DNB, Citigroup, ABN Amro, and ING — announced the adoption of the Poseidon Principles (PPs). The … Continue Reading
