Podcast - Carbon Markets Lightning Round: State and Federal Updates
Across the Board-Episode 6, will your assets be stranded?
The 29th Conference of the Parties (“COP29”) of the UN Framework Convention on Climate Change (“UNFCC”) is set to take place in Baku, Azerbaijan, from 11 to 22 November 2024. This is the first in a series of posts BCLP’s...more
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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