A rating agency accepted a preliminary injunction regarding a disputed corporate sustainability rating. By Paul A. Davies, Michael D. Green, Joachim Grittmann, and Alexander Wilhelm As reported by a number of German newspapers and the environmental press, a dispute between the US proxy advisory firm Institutional Shareholder Services (ISS) and the German industrial image processing … 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 Court’s decision has important implications for the French Constitution and the interplay between economic growth and the environment. By Paul A. Davies, Fabrice Fages, and Michael D. Green On 31 January 2020, the French Constitutional Court (Conseil Constitutionnel) took a decision that aimed to balance the protection of the environment and human health … Continue Reading
The Initiative aims to grant investors, consumers, and other stakeholders a clearer picture of companies’ non-financial performance. By Paul A. Davies and Michael D. Green On 30 January 2019, the European Commission began a consultation process on a potential initiative to revise and improve the Non-Financial Reporting Directive (NFRD) (the Initiative). The Commission has not … 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
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
The Bill proposes a post-Brexit system of environmental governance to oversee new powers and regulations in four environmental law areas. By Paul A. Davies and Michael D. Green On 15 October 2019, the UK government published the final draft of Environment Bill 2019–20 (the Bill), which aims to set out the government’s environmental priorities post-Brexit. … 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
Bank of England Governor identifies three areas of improvement in creating a sustainable finance system. By Paul A. Davies and Michael D. Green On September 24, 2019, the Bank of England (BoE) published two speeches given by its governor, Mark Carney, in which he calls for climate change-related risks and resilience to be brought into the heart of … Continue Reading
ECJ Decision Examines Definition of ‘Waste’ for Transboundary Consignments Request for preliminary ruling from the Hague Court of Appeal confirms that the concepts of “waste” and “discard” must be interpreted broadly. By Paul A. Davies and Michael D. Green The European Court of Justice (ECJ) recently handed down its judgment in response to a request … Continue Reading
The guidelines, along with three new reports on green finance, demonstrate the European Commission’s intent in respect of meeting its Paris Agreement targets. By Paul A. Davies, Michael D. Green and Clément Pradille On June 18, 2019, the European Commission (Commission) published new guidelines on corporate climate-related information reporting, as well as three new reports … Continue Reading
The Committee has recommended that the UK government take the lead in reaching net-zero, through social, financial, and policy change. By Paul A. Davies and Michael D. Green The Committee on Climate Change (CCC), a statutory body that advises the UK government on carbon budgets, has recommended that the UK government should commit to cutting … Continue Reading
ECJ ruling provides EU Member States more flexibility in designing the promotion of renewable energies. By Jörn Kassow and Alexander Wilhelm The European Court of Justice (ECJ) recently ruled that the German Renewable Energy Act of 2012 (Erneuerbare-Energien-Gesetz – EEG 2012) did not constitute State aid (C-405/16 P). The ECJ found that the support mechanism … Continue Reading
EU will tax manufacturers for excess emissions and collect individual consumption data from vehicles in order to meet climate change goals. By Jörn Kassow and Patrick Braasch The EU is setting stricter CO2 emission standards for new passenger cars and light commercial vehicles (LCVs). A new regulation on CO2 emission standards (Regulation (EU) No 2019/631), … Continue Reading
A new regulation will detail how financial market participants and financial advisors must incorporate ESG risks and opportunities in their procedures. By Paul A. Davies and Michael D. Green The European Union (EU) is committed to being the global leader in fighting climate change and implementing the Paris Agreement. Since climate change is increasingly viewed … Continue Reading
The revised Code is likely to encourage a more robust and substantive review of ESG issues by institutional investors. By Paul A. Davies and Michael Green Background The UK Stewardship Code (the Code) was originally published in 2010 following a review of corporate governance. The Financial Reporting Council (FRC) has responsibility for the Code, and … Continue Reading
The Coal Commission’s phase-out proposal includes a €40 billion federal spending package for affected states. By Jörn Kassow and Patrick Braasch A German government-appointed body, known colloquially as the “Coal Commission”, has agreed to end coal-fired power generation by 2038. In an effort to meet Germany’s climate goals under the Paris Agreement, the Coal Commission … Continue Reading
Waste producers must comply with new criteria and procedures for objects and products to benefit from end of waste status. By Paul Davies The French government has developed many measures to foster circular economy approaches. Most recently, a Ministerial Order of 11 December 2018 (Order) sets out criteria and procedures to end the waste status … Continue Reading
Four NGOs launch innovative action claiming state has not met COP21 objectives. By Paul A. Davies and Michael D. Green On 17 December 2018, four NGOs filed legal action against the French state. In the legal action, the NGOs argued that the state has not met the short-term climate change objectives set at COP21. The … Continue Reading
The deal establishes rules and guidelines for how governments will track, report on, and verify emissions-cutting efforts. By Jörn Kassow and Patrick Braasch Delegates from 196 countries and the European Union convened in Katowice, Poland, in December for two weeks of negotiations on creating a common rulebook for putting the Paris Agreement into practice. The … Continue Reading
The growth in the level of undertakings throughout 2018 tallies with a general increase in environmental enforcement. By Paul A. Davies and Michael D. Green The Environment Agency has released data indicating that enforcement undertakings in England and Wales reached more than £2.2 million in 2018 — the highest-ever levels within a single year. The amounts … Continue Reading
The report supports the efforts of the EU’s Seventh Environment Action Programme. By Alexander Wilhelm According to a report prepared by the Joint Research Centre (JRC) — the European Commission’s science and knowledge service — countries across Europe are making progress on tackling soil contamination. The report[i] states that the management of contaminated sites in … Continue Reading
Landmark ruling requires the European Commission to disclose impact assessments used as a basis for its legislative decision-making process. By Antonio Morales and Rosa Espín The Grand Chamber of the Court of Justice of the European Union recently issued a landmark judgment finding that impact assessments should be considered public documents. This decision sets a … Continue Reading
