climate change

Subscribe to climate change via RSS

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 Framework Convention on Climate Change (UNFCCC), held under the presidency of the UK. Governments, corporations, academics, social groups, and other members of civil society converged with the aim of working together at the international level to tackle climate change.

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 organisations that make TCFD-aligned disclosures in preparing decision-useful metrics, targets, and transition plan information and linking that information to estimates of financial impact. The Guidance builds on a consultation paper on the same topic that the TCFD released in June 2021.

The roadmap introduces sustainability disclosure requirements for UK companies and reveals further developments in relation to a UK Green Taxonomy.

By David Berman, Paul A. Davies, Nicola Higgs, Michael D. Green, Anne Mainwaring, and James Bee

On 18 October 2021, the UK government released a report titled “Greening Finance: Roadmap to Sustainable Investing” (the Roadmap), which is intended to encourage UK businesses and investors to have regard to climate and other environmental, social, and governance (ESG) considerations in their decision-making processes. The Roadmap follows the government’s 2019 Green Finance Strategy, which set out a suite of policies to assist in aligning UK financial flows with a low-carbon planet.

The government states that it views the task of “greening the financial system”[1] as composed of three fundamental phases. The Roadmap addresses the first phase: informing investors and consumers and addressing the information gap in relation to environmental and sustainability  issues between corporates and investors.[2] Notably, the Roadmap also introduces sustainability disclosure requirements (SDR) for UK companies and reveals further developments in relation to the UK Green Taxonomy (Taxonomy). In addition, the Roadmap identifies proposed timeframes for further developments on each of these topics.

CEQ report calls for widespread CCUS deployment to achieve climate goals.

By Joshua T. Bledsoe, Nikki Buffa, and Nolan Fargo

On June 30, 2021, the White House Council on Environmental Quality (CEQ) issued a report to Congress that outlines a framework for how the US can accelerate carbon capture, utilization, and sequestration (CCUS) technologies and projects in a way that is efficient, orderly, and responsible.

Identifying CCUS Needs

The report, which Congress directed CEQ to prepare as part of the USE IT Act, states that to successfully increase CCUS deployment, strong and effective permitting and regulatory regimes and meaningful public engagement will be required. These measures include:

  • Developing regulatory regimes in a manner that is informed by science and experience
  • Addressing pollution in overburdened communities
  • Increasing support for CCUS research
  • Developing and enhancing incentives such as 45Q Tax Credits

With increasing pressure to fight climate change, scientists, and leaders agree that carbon capture, use, and storage (CCUS) is a cost-effective solution to meet emissions goals made under the Paris Agreement. 

In his interview with Hart Energy, Latham partner JP Brisson discusses how aggressive efforts are needed to meet the net-zero goal, but oil and gas companies are making significant progress in deploying CCUS projects at scale.

Watch the video.