Environment, Land & Resources

Tag Archives: climate change

European Commission Reports on Climate Change Progress

A new report shows headway in reducing greenhouse gases and details the latest climate change policy developments. By Paul A. Davies and Michael D. Green On 30 November 2020, the European Commission (EC) adopted the EU Climate Action Progress Report Kick-starting the journey towards a climate-neutral Europe by 2050 (the Report). The Report, which is … Continue Reading

China’s New Five Year Plan Prioritizes Climate Targets and Domestic Growth

The Chinese Communist Party’s policy plans include an increased focus on climate change and a more open trade environment. By Paul Davies, Ethan Prall and Andrew Westgate The Central Committee, the top-level authority of the Chinese Communist Party (CCP), recently concluded its Fifth Plenary Session and created China’s 14th Five Year Plan (the Plan). The … Continue Reading

Changing of the Guard at the SEC Heralds New Day for ESG Disclosure Rules

As Chairman Clayton reaches the end of his tenure, Commissioners Lee and Crenshaw continue to push for SEC action on climate change. By Paul A. Davies, Paul M. Dudek, Ryan J. Maierson, and Kristina S. Wyatt Background In recent years, the market has witnessed a sharp divide both within the US Securities and Exchange Commission … Continue Reading

Task Force on Climate-related Financial Disclosures Publishes 2020 Status Report

The annual report shows a considerable uptake in the adoption of climate-centred financial disclosures. By Paul A. Davies and Michael D. Green The Task Force on Climate-related Financial Disclosures (TCFD) published its Annual Report on TCFD-aligned disclosures by firms (Annual Report), on 29 October 2020. The TCFD was established by the Financial Stability Board (FSB) … Continue Reading

Financial Reporting Council’s Climate Thematic Report Encourages Better Practices in Climate-Change Reporting

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 EU’s 2021 Work Programme Features Green and Sustainable Initiatives

Making Europe greener, fairer, and more sustainable is at the heart of the European Commission’s new work programme. By Paul Davies, David Little, Michael D. Green, and Pierre Bichet On 19 October 2020, the European Commission (Commission) published its Work Programme (Programme) for 2021. The Programme — “A Union of vitality in a world of … Continue Reading

China Pledges to Become Carbon Neutral by 2060

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

Climate Assembly UK Publishes 2050 Net Zero Target Recommendations

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

California to Require 100% Zero-Emission Passenger Vehicle Sales by 2035

The Governor has issued an Executive Order with sweeping implications for the oil and gas industry and others. By Jean-Philippe Brisson, Joshua T. Bledsoe, Nikki Buffa, and Brian F. McCall On September 23, 2020, California Governor Gavin Newsom signed Executive Order N-79-20, which will have sweeping implications for the oil and gas industry, automakers, low-carbon … Continue Reading

European Commission Launches Consultation on Proposed Green Claims Regulation

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

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

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

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

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

UK Publishes Proposed Emissions Trading System

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

EU Commission Sets out Major Climate and Sustainability Proposals

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

FAQ: EU Commission’s New Circular Economy Action Plan

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
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