On July 17, 2024, Pennsylvania joined a growing number of states establishing a legal framework for the underground storage of carbon dioxide. Carbon capture and underground sequestration (“CCUS”) is promoted as a technology...more
Good morning! This is Akin’s newsletter on climate change policy and regulatory developments, providing information on major climate policy headlines from the past week and forthcoming climate-related events and hearings...more
After two years of continuous behind-the-scenes work, Sen. Joe Manchin (I-W.Va), who chairs the U.S. Senate Committee on Energy and Natural Resources, joined by Sen. John Barrasso (R-Wyo.), released S. 4753, the Energy...more
The last several weeks of unexpected and unprecedented political events have thrown even more confusion into the presidential election. While the outcome of a now Harris-versus-Trump race is maybe even more uncertain, we do...more
Regulatory Updates - Governor Newsom (D-CA) recently proposed a two-year delay to California’s sweeping new mandatory climate disclosures, which apply to all large companies—public or private—doing business in California....more
States are increasingly holding the fossil fuel sector liable for costs related to climate change. Our Environment, Land Use & Natural Resources Group unpacks what companies need to know about these new state “superfund”...more
Finch v. Surrey calls for assessment of all likely direct and indirect environmental effects in EIAs, including certain Scope 3 emissions if a reasonable estimate is feasible. On 20 June 2024, the UK Supreme Court (the...more
The 2024 General Election is imminent and all four of the biggest political parties have now released their election manifestos. With the push to net zero remaining critical in accordance with the UK’s domestic and...more
The key principles for a Carbon Management Strategy and draft act on the revision of the Carbon Storage Act create new opportunities for investors and project developers. The German Federal Government’s Carbon Management...more
The energy demands of artificial intelligence (AI) technologies are growing significantly, with the Department of Energy (DOE) forecasting a tenfold increase in data center energy demand due to the rise of AI applications and...more
Antitrust and Competition - The European Commission Approves Plan to Unwind a Completed Transaction in the Early Cancer Detection Sector - On 12 April 2024, the European Commission (Commission) approved the plan to unwind a...more
The Council of the European Union adopted a regulation on the reduction of methane emissions in the energy sector (Regulation). Methane is the second-biggest cause of climate change after carbon dioxide, and in the short term...more
This month, we are excited to feature Quaise Energy and its recent success in closing a $21 million Series A1 financing to accelerate terawatt-scale geothermal energy! This financing round was led by Prelude Ventures and...more
A coalition of Republican state attorneys-general representing nineteen states (Alabama, Alaska, Florida, Georgia, Idaho, Iowa, Kansas, Mississippi, Missouri, Montana, Nebraska, New Hampshire, North Dakota, Oklahoma, South...more
The American Council for an Energy-Efficient Economy (“ACEEE”) issued a May 2024 Report titled: Combined Energy Burdens: Estimating Total Home and Transportation Energy Burdens. (“Report”) - The Report concludes that...more
The IRA created substantial tax credits for SAF. Under Section 40B, SAF producers who meet certain requirements can claim a credit of at least $1.25 per gallon of SAF. Among other things, eligible SAF must achieve lifecycle...more
EPA requires existing coal-fired power plants that plan to operate beyond 2039 and large new gas-fired power plants to achieve 90% reductions in GHG emissions by 2032....more
The US Department of Energy (DOE) recently finalized a rule to significantly reduce on-site fossil fuel–generated energy consumption in federal buildings with a required reduction of 90% for new construction or major...more
A new report by the International Energy Agency, released on March 13, found that for the third year in a row, methane released by the fossil fuel industry rose to an almost record high in 2023. Methane emissions are a...more
On 22 February 2024, the UK announced it is withdrawing from the Energy Charter Treaty (ECT) on the basis that it is incompatible with the energy transition, being the 11th state to do so. However, ECT protections for...more
The 28th United Nations (U.N.) Climate Change Conference of the Parties (COP28) wrapped up in Dubai in mid-December 2023. This Article summarizes key takeaways and describes the potential implications for businesses and...more
Africa’s heavy reliance on fossil fuels for economic growth, set against the backdrop of strict environmental regulations and emissions-reduction targets, creates a perfect storm of factors that could give rise to climate...more
COP28, the 28th Conference of the Parties to the United Nations Framework Convention on Climate Change, came to an end in Dubai on December 13, 2023. The nearly 200 states reached what has been labelled a “historic” agreement...more
An Act Driving Clean Energy and Offshore Wind (St. 2022, c. 179, § 84) required the Massachusetts Department of Energy Resources (DOER) to establish a demonstration project in which 10 municipalities were selected to adopt...more
As the world focuses on energy transition and decarbonisation, there is clearly no shortage of bold ambition on the part of many African governments to play a key role in global efforts to tackle climate change. Meanwhile,...more