News & Analysis as of September 17, 2024

Paris Agreement

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The European Union is an economic and political partnership comprised of 27 nations within the Eurozone. The EU was established in 1948 to promote stability and cooperation among member states in the aftermath of WWII. The EU maintains a common currency as well as several intranational institutions, including the European Parliament and the European Commission. less -

The European Union Emissions Trading System is on the horizon for the maritime transportation sector

Seward & Kissel LLP on 1/2/2024

The European Union Emissions Trading System (EU ETS) is coming into effect for the maritime transportation sector on January 1, 2024. Here’s what that means. Background - The EU ETS launched in 2005 and on May 10, 2023...more

“Transitioning Away” – Vinson & Elkins Examines Key Outcomes Agreed at COP28 and the First Global Stocktake

Vinson & Elkins LLP on 12/20/2023

The 28th Conference of the Parties (or “COP28”) to the UN Framework Convention on Climate Change (“UNFCCC”) at Expo City in Dubai has ended with an agreement described by COP28 president Dr Sultan Ahmed Al Jaber as “historic”...more

Previewing COP28: Opportunities, Challenges and Anticipated Outcomes

Akin Gump Strauss Hauer & Feld LLP on 12/4/2023

The 28th Conference of the Parties (COP28) to the United Nations Framework Convention on Climate Change (UNFCCC) has commenced this week in Dubai, United Arab Emirates (UAE), and will run through December 12, 2023. The UAE is...more

Sustainable Business Group Urges EU to Cut GHG Emissions 90% by 2040

Cadwalader, Wickersham & Taft LLP on 10/31/2023

On September 5, 2023, the Corporate Leaders Group Europe (CLG Europe) published a position paper urging the European Union to cut its greenhouse gas (GHG) emissions by at least 90% by 2040, and asked EU member states to...more

Delivering Net Zero by 2050: the $200 trillion opportunity

A&O Shearman on 9/25/2023

Until now, however, no comprehensive estimate existed of the of that opportunity, (or, to put it another way, the size of the financing gap between committed spending and the investment needed to deliver Net Zero by 2050...more

Decarbonisation disputes: the evolving frontier of climate-related risk

A&O Shearman on 4/20/2023

The Net Zero transition will not be smooth. The scale of the investment required and the appetite and ability of countries to implement new policy – both now and in the years to come – will cause unprecedented disruption and...more

Article 6 of the Paris Agreement: Opportunities for Africa

White & Case LLP on 12/14/2022

The possibility of climate markets has finally materialized into the draft stage at COP27, but many crucial decisions that would allow for carbon trading to begin in earnest were deferred to COP28. The Paris Climate...more

Negotiations on Carbon Credits Expected to Continue at COP27

White & Case LLP on 9/22/2022

Greenhouse gas emissions reduction or removal credit transactions allow governments, companies or individuals to purchase credits that are often referred to as "carbon credits" in an effort to mitigate climate change by...more

COP26: Outcomes and Next Steps

Vinson & Elkins LLP on 12/2/2021

The 2021 United Nations Climate Change Conference (COP26) produced some breakthrough pledges, a draft rulebook for an international carbon market, and some big aspirations. The agreement reflects a much more robust approach...more

Belgian and French Courts Ruled on New Climate Lawsuits Against Governments

Jones Day on 7/28/2021

On May 26, 2021, the Hague District Court ordered, in a groundbreaking decision, Royal Dutch Shell Plc to ensure that the aggregate annual volume of all carbon dioxide emissions of the Shell group, its suppliers, and...more

Fit for 55: EU moves to introduce carbon border adjustment mechanism

White & Case LLP on 7/26/2021

As a key part of the "Fit for 55" European Green Deal package, the European Commission has published its controversial proposal for a carbon border adjustment mechanism ("CBAM"). The CBAM, if adopted, will impose a levy on...more

The Dutch Decision on Shell’s Carbon Emissions – Should U.S. Companies Be Worried?

Foley & Lardner LLP on 6/25/2021

On May 26, 2021, a Dutch court ordered Royal Dutch Shell Plc (“Shell”) to cut its greenhouse gas emissions by 45% (from 2019 levels) by 2030. Shell had previously pledged to reduce its emissions by 20% (from 2016 levels) by...more

European Commission Announces 2030 Climate Target Plan

Jones Day on 11/12/2020

European Commission Announces 2030 Climate Target Plan - As part of the European Green Deal—and flowing from the European Commission's (the "Commission") December 2019 announcement of a 2050 zero carbon target across the...more

ESG Snapshot – Rules and Regulations: Overview of the EU Benchmark Regulation and the Low Carbon Benchmark Regulation

Dechert LLP on 4/29/2020

What is the law/regulation? As part of a broader European Union (“EU”) initiative on sustainable development which seeks to place environmental, social and governance (“ESG”) considerations at the heart of the financial...more

Currents - Energy Industry Insights - April 2020 #2

Spilman Thomas & Battle, PLLC on 4/14/2020

China Resumes LNG Imports from the U.S. - "Chinese buyers have resumed imports of liquefied natural gas from U.S. exporters, as Beijing started granting waivers to a 25% import tariff." Why this is important: In the...more

Currents - Energy Industry Insights - February 2020 #2

Spilman Thomas & Battle, PLLC on 2/18/2020

Energy-Related CO2 Emissions ‘Flatlined’ Last Year, IEA Says, Raising Hopes About Climate - "Global emissions remained at approximately 33 gigatonnes in 2019 despite the world economy growing by 2.9%, the IEA said." ...more

Financial Regulatory Observer - December 2019: ESG investing: The sharpening teeth of disclosure

White & Case LLP on 12/23/2019

How to stay ahead of the curve, minimize future costs of compliance and feed the growing demand from investors for responsible products and services - Environmental, social and governance (ESG) investing is accelerating...more

Currents - Energy Industry Insights: December 2019 #3

Spilman Thomas & Battle, PLLC on 12/21/2019

Chevron to Take $10B+ Write-Down - "More than half the write-down is related to gas drilling operations in Appalachia." Why this is important: In recent years, the pressure to reduce carbon emissions has affected...more

Grid Stability in the Age of Decarbonisation

BCLP on 9/3/2019

Grid disruption which results in blackouts is big news and often leads to public uproar and much finger pointing. The lightning strike that led to a blackout in parts of the UK in early August was widely reported and is the...more

Research finds that Reducing Carbon Emissions will Spur Technology Innovation

Mintz - Energy & Sustainability Viewpoints on 8/13/2016

In December 2015, 195 nations and the European Union formally pledged to meet nationally determined emissions-reduction targets in the Paris Agreement. Since then, many experts have observed that the national targets are not...more

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