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
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 start of trading represents a significant opportunity for businesses able to achieve meaningful reductions. By Paul A. Davies and R. Andrew Westgate Nearly four years after China’s national emissions trading scheme (ETS) was announced in late 2017, trading of emissions quotas officially commenced on July 16. The start of trading represents a significant step … Continue Reading
The agency’s rulemaking to implement the AIM Act will offer stakeholders opportunities to shape a new market-based mechanism to reduce HFCs. By Jean-Philippe Brisson, Stacey VanBelleghem, and Zaheer Tajani Tucked inside the US$900 billion COVID-19 relief package signed into law on December 27, 2020, is a regulatory opportunity for the climate-focused Biden Administration: the American … Continue Reading
New trade arrangement incentivizes power operators to be more energy-efficient. By Paul A. Davies, R. Andrew Westgate, Qingyi Pan, and Jacqueline J. Yap On January 1, 2021, the long-awaited China Emissions Trading Scheme (ETS) commenced operation, with 2,225 coal-fired power plants participating. Under this new ETS, China’s power operators will have to buy emissions permits … Continue Reading
The newly published Energy White Paper establishes a domestic trading scheme and sets out plans to clean out energy. By Paul A. Davies and Michael D. Green On 14 December 2020, the UK Government published its Energy White Paper (the Paper). The Paper builds on previous green economy plans, setting them “in a long-term strategic … Continue Reading
President Xi Jinping promises to reduce carbon emissions in speech before the UN General Assembly. By Paul A. Davies, Michael D. Green, R. Andrew Westgate, and Jacqueline J. Yap On 22 September 2020, during a speech before the UN General Assembly, President Xi Jinping announced China’s commitment to become carbon neutral by 2060 and reaffirmed … Continue Reading
The UK citizens’ assembly identifies overarching principles and makes specific recommendations for achieving the environmental goal. By Paul A. Davies and Michael D. Green Background The Climate Assembly UK has published its report on how the UK can achieve its statutory target for net zero carbon emissions by 2050. The report, which was released on … Continue Reading
Proposed regulation will require companies to substantiate their environmental footprint claims, seeking to ensure green claims are more reliable. By Paul A. Davies and Michael D. Green Background On 27 August 2020, the European Commission (the Commission) launched a public consultation on a possible proposal on substantiating green claims about products or services. This follows … Continue Reading
Two initiatives seek to standardise approaches to carbon accounting and provide a blueprint for investors to help achieve net zero global emissions by 2050. By Paul A. Davies and Michael D. Green On 3 August 2020, the Partnership for Carbon Accounting Financials (PCAF), a global collaboration of 70 financial institutions with total financial assets of … Continue Reading
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 On 22 July 2020, investors filed a class-action claim against the Australian government, alleging that it failed to disclose material climate change risks relating … Continue Reading
The carbon border adjustment mechanism would aim to prevent carbon leakage resulting from carbon pricing in the EU emissions trading system. By Paul A. Davies and Michael D. Green On 22 July 2020, the European Commission (the Commission) published a consultation on a carbon border adjustment mechanism (CBAM) that is open until 28 October 2020. … Continue Reading
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, … 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
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
The announcements signal how both the Net Zero Review and the IETF will impact the UK’s transition to net zero. By Paul Davies and Michael Green On 2 November 2019, the UK government announced further details on two initiatives focused on helping the UK reach net zero greenhouse gas emissions by 2050. The first of … Continue Reading
The launch of the International Platform on Sustainable Finance indicates an increased focus on a globalized approach to coordinating sustainable finance. By Paul Davies and Michael D. Green On October 18, 2019, the EU, China, India, and five other countries combined to launch the International Platform on Sustainable Finance (IPSF). Acknowledging the role that private … 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
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
TCI’s proposal is poised to become its own carbon reduction program with a focus exclusively on the transportation sector, alongside RGGI’s existing cap and trade program. By Jean-Philippe Brisson, Joshua T. Bledsoe, David B. Amerikaner, and Benjamin W. Einhouse The Regional Greenhouse Gas Initiative (RGGI) may soon have a transportation-focused companion to its functioning power … Continue Reading
California proposes phasing out the use of SF6 in GIE and further reducing allowable GHG emissions from such equipment. By Aron Potash and Kimberly D. Farbota California Air Resources Board (CARB) staff recently published a discussion draft (Draft Amendments) of potential changes to the current Regulation for Reducing Sulfur Hexafluoride Emissions from Gas Insulated Switchgear … Continue Reading
CARB continues to drive lower NOx emissions for heavy-duty engines and vehicles on the road. By Arthur Foerster and Reed McCalib On January 23, 2019, the California Air Resources Board (CARB) held a public workshop to discuss the agency’s ongoing regulatory emissions overhaul for on-highway, heavy-duty diesel engines and vehicles. Based on the agency’s position … Continue Reading
The Newhall Ranch project in Los Angeles County was highlighted for its proactive and innovative strategy to reduce carbon emissions. A strategy to gain approvals for the development of the Newhall Ranch community in Los Angeles County — built around the project’s net-zero impact on climate change — was recently featured in a report by … Continue Reading
