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 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 proposal signals continued convergence of international standards as the green bond market further matures. By Paul Davies, Michael Green, and Aaron Franklin On 29 May 2020, Chinese regulators published a draft of their 2020 revision to the Green Bond-supported Project Catalogue (Green Project Catalogue) for comments. The Green Project Catalogue comprises a list of … Continue Reading
EPA’s proposed standards have important implications, even though few coal plants are slated for development. By Joel C. Beauvais and Stacey L. VanBelleghem Background On December 6, the US Environmental Protection Agency (EPA) signed a proposed rule to establish new source performance standards (NSPS) under Clean Air Act Section 111(b) for carbon dioxide (CO2) emissions … Continue Reading
France announces voluntary adoption of a new law amending the Mining Code to meet Paris Agreement commitments. By Paul Davies and Michael Green* Background After lengthy legislative debates, the amended Mining Code (MC) now provides that, as a matter of principle, the research and exploitation of coal, and of all liquid or gaseous hydrocarbons, shall … Continue Reading
By Paul Davies and Andrew Westgate China has made notable strides to transition towards a lower-carbon economy. Most recently, local authorities were ordered to halt construction of coal-fired power plants in 13 provinces where capacity already outstrips demand. Demonstrable of its efforts to end reliance on coal and invest in green alternatives, China is ramping … Continue Reading
By Paul Davies and Andrew Westgate China’s National Development and Reform Commission (NDRC) and the National Energy Administration (NEA) have ordered local authorities to stop construction of coal-fired power plants in 13 provinces where capacity already outstrips demand. A further 15 provinces will be required to delay construction of previously approved coal-fired power plants. These provinces … Continue Reading
