News & Analysis as of

Carbon Pricing

Holland & Knight LLP

Commodity Futures Trading Commission Finalizes Voluntary Carbon Market Standards

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The Commodity Futures Trading Commission (CFTC) on Sept. 20, 2024, finalized guidance (the Final Guidance) regarding the listing of voluntary carbon credit (VCC) derivatives on CFTC‑regulated exchanges. The CFTC previously...more

Goldberg Segalla

Federal Agencies Join White House in Outlining Principles for Voluntary Carbon Markets

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On May 28, multiple federal agencies in conjunction with the White House published a Joint Policy Statement that laid out the principles for the further development of future, high-integrity voluntary carbon-credit markets....more

Holland & Knight LLP

Podcast - Carbon Markets Lightning Round: State and Federal Updates

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In this episode of our "An Energized Exchange" podcast series by our Energy & Natural Resources Industry Sector Group, attorneys Alex Holtan and Andy Kriha shine a light on all things carbon markets, both voluntary and...more

Quarles & Brady LLP

The SEC Issues Final Climate Disclosure Rules for Public Companies, but Legal Challenges are Pending

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On March 6, 2024, the Securities and Exchange Commission (SEC) finalized its long-awaited climate disclosure rules on a party-line 3-2 vote. The new rules have been significantly watered down from the SEC’s March 21, 2022...more

Foley Hoag LLP - Environmental Law

Update on RGGI in Pennsylvania

In 2022, Pennsylvania became the 12th member of the Regional Greenhouse Gas Initiative (“RGGI”). Pennsylvania joined RGGI pursuant to a 2019 executive order and a subsequent rulemaking promulgated by the state’s Department of...more

Mintz - Energy & Sustainability Viewpoints

SEC Approves Sweeping New Climate Disclosure Rule: Key Takeaways

The Securities & Exchange Commission ("SEC") issued its long-awaited final rule concerning climate disclosures, entitled “The Enhancement and Standardization of Climate-Related Disclosures for Investors” (“Climate Disclosure...more

Latham & Watkins LLP

Singapore Publishes Eligibility List Under the International Carbon Credit Framework

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The Eligibility List sets out the approved host countries, carbon crediting programmes, and methodologies that meet the established Eligibility Criteria in Singapore. On 19 December 2023, the Ministry of Sustainability...more

Latham & Watkins LLP

UK Government Announces New Import Carbon Pricing Mechanism

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Goods imported into the UK from countries with a lower or no carbon price will face a levy by 2027. On 18 December 2023, the UK government announced a proposal for a new carbon border adjustment mechanism (UK CBAM)....more

Jones Day

The CFTC Proposes "Guidance" for Derivatives Markets on Listing Voluntary Carbon Credit Derivatives

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In Short - The Background: As voluntary carbon credits ("VCCs") have grown in popularity, questions about their integrity and quality have arisen for investors and among regulators and lawmakers. For this reason, many have...more

Jones Day

Transitioning Into the European Carbon Border Adjustment Mechanism

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As part of the Fit for 55 Package of the EU Green Deal, the EU Carbon Border Adjustment Mechanism("CBAM"), adopted through Regulation (EU) 2023/956 of May 10, 2023, is considered by the EU institutions as a key tool to become...more

Polsinelli

Hydrocarbon Tax Policy Trends

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As governments focus on clean energy and carbon reduction initiatives, their oil and gas taxation policies have increasingly come under scrutiny. Polsinelli’s attorneys review a few overarching themes concerning expected...more

J.S. Held

Canada’s Oil and Gas Emissions Cap: Options for the ECCC Proposal

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Options to cap and cut emissions from the Canadian oil and gas sector were proposed by Environment and Climate Change Canada (ECCC) in July 2022. Reducing oil and gas sector emissions is necessary for Canada to achieve its...more

Jones Day

Evolution of EU Carbon Legislation

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On December 13, 2022, the European Parliament and the Council of the EU reached a provisional agreement on the implementation of the EU Carbon Adjustment Mechanism ("CBAM"), the mechanism designed to complement the European...more

Latham & Watkins LLP

Verra Announces Public Consultation on Proposed Approach to Third-Party Crypto Instruments and Tokens

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A major voluntary carbon standard invites comments on linking carbon credits with crypto instruments and tokens, reinforcing the growing importance of blockchain transactions in voluntary carbon markets. On August 3,...more

Blake, Cassels & Graydon LLP

Alberta Increases Cost of TIER Fund Credits to C$50

On December 1, 2021, the Alberta Minister of Environment and Parks issued Ministerial Order 87/2021 confirming the cost to obtain Technology, Innovation and Emissions Reduction Fund (Fund) credits under the Technology,...more

Foley Hoag LLP - Environmental Law

FERC Cannot Avoid the Social Cost of Carbon By Arguing That It is Not Universally Accepted

On August 3, the District of Columbia Court of Appeals held that FERC could not avoid use of the social cost of carbon in assessing the impacts of natural gas projects by arguing that “there is no universally accepted...more

Foley Hoag LLP - Environmental Law

At What Level of Government Are We Going to Regulate Climate Change? (Hint — It Is a Global Problem.)

Last week, Judge Yvonne Gonzalez Rogers ruled that the Berkeley ordinance essentially banning use of natural gas in new construction was not preempted by the Energy Policy and Conservation Act. I’m not here to opine on the...more

MoFo Life Sciences

UK’S New Emissions Trading Scheme Hosts First Auctions

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On January 1, 2021, the UK launched its very own emissions trading scheme (the “UK ETS”) exercising its autonomy since departing the EU. Under this scheme, companies operating in certain sectors can trade emission allowances...more

Sheppard Mullin Richter & Hampton LLP

Six Key Items to be Aware of Today Regarding the Equator Principles IV

On October 1, 2020, the fourth edition of the Equator Principles came into effect. This fourth edition expands the scope of infrastructure projects that are captured by the principles and creates additional obligations for...more

Bracewell LLP

FERC Issues Carbon Pricing Policy

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On April 15, 2021, the Federal Energy Regulatory Commission (“FERC” or “Commission”) issued its much anticipated policy statement on carbon pricing in organized markets. The non-binding policy statement provides guidance...more

Foley Hoag LLP - Environmental Law

Carbon Pricing — Is It the Zombie Climate Policy?

At a press briefing in India yesterday, John Kerry, President Biden’s Special Presidential Envoy for Climate was asked by an Indian journalist about carbon pricing. Here’s part of his response: President Biden believes...more

Dickinson Wright

Reference re Greenhouse Gas Pollution Pricing Act – Supreme Court of Canada Rules Carbon Pricing Constitutional

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Introduction - On March 25, 2021, the Supreme Court of Canada (the “SCC”) released its decision in Reference re Greenhouse Gas Pollution Pricing Act, upholding the constitutionality of a federal law establishing minimum...more

Blake, Cassels & Graydon LLP

Répercussions de la constitutionnalité de la Loi sur la tarification de la pollution causée par les gaz à effet de serre

Dans le Renvoi relatif à la Loi sur la tarification de la pollution causée par les gaz à effet de serre (l’« arrêt »), une majorité de juges de la Cour suprême du Canada (la « CSC ») a déclaré que la Loi sur la tarification...more

(ACOEL) | American College of Environmental...

Canada Given Green Light to Carbon Pricing: Why the Supreme Court of Canada’s Decision Should Matter to Those South of Our...

On March 25, 2021, the Supreme Court of Canada upheld the Greenhouse Gas Pollution Pricing Act (“GGPPA”), which establishes a national pricing benchmark for greenhouse gas (“GHG”) emissions. Reference re Greenhouse Gas...more

Blake, Cassels & Graydon LLP

Now That the Greenhouse Gas Pollution Pricing Act Has Been Determined to be Constitutionally Valid – What Does it All Mean?

In Reference re Greenhouse Gas Pollution Pricing Act (Decision), a majority of the Supreme Court of Canada (SCC) declared that the federal Greenhouse Gas Pollution Pricing Act (Act) is constitutional. This Bulletin discusses...more

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