News & Analysis as of September 17, 2024

Carbon Emissions

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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 Hydrogen and Decarbonized Gas Market Package

White & Case LLP on 5/29/2024

On 21 May 2024, the Council of the EU adopted the Hydrogen and Decarbonized Gas Market Package. It aims to shift the gas system to low-carbon and renewable gases, and provides for the highly anticipated framework on dedicated...more

European Union Adopts Strategy to Develop Carbon Capture and Storage Technologies

Jones Day on 4/30/2024

The European Commission ("Commission") adopted an Industrial Carbon Management Communication ("Communication") on 6 February 2024, outlining the Commission's ambitions for a strategy to boost the deployment of technologies in...more

Cadwalader Climate - April 2024 #4

Cadwalader, Wickersham & Taft LLP on 4/24/2024

In this week’s edition, we discuss the European Parliament’s approval of a certification framework that is set to govern carbon removal activities, including the proper certification of carbon credits. Europe continues to...more

European Commission Recommends 90% Emissions Reduction Target by 2040

Latham & Watkins LLP on 2/7/2024

On 6 February 2024, the European Commission (Commission) presented its recommendations for the EU’s 2040 climate target, following a detailed impact assessment on potential emission reduction pathways. This publication aligns...more

EU Carbon Border Adjustment Mechanism: Reporting Deadlines Approaching

McDermott Will & Emery on 1/26/2024

By 31 January 2024, as part of the Carbon Border Adjustment Mechanism, importers of cement, iron and steel, aluminium, fertilisers and hydrogen must report to the European Commission the embedded carbon emissions relating to...more

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

EU Commission releases further guidance on CBAM implementation

White & Case LLP on 12/6/2023

The EU's Carbon Border Adjustment Mechanism ("CBAM") reporting obligations started applying from 1 October 2023. As the first reports are due in January 2024, the Commission has released a list of some of the most frequently...more

Brussels Regulatory Brief: October 2023

K&L Gates LLP on 10/27/2023

Antitrust and Competition - European Commission Prohibits US$1.7 Billion Merger in Online Travel Agency Sector - On 25 September 2023, the European Commission (Commission) prohibited, under Council Regulation (EC) No 139/2004...more

European Commission Adopts Reporting Rules for Transitional Phase of Carbon Border Adjustment Mechanism

Latham & Watkins LLP on 8/24/2023

Importers into the EU of CBAM goods should be aware of their transitional reporting obligations under the new rules. On 17 August 2023, the European Commission (Commission) adopted rules governing the implementation of...more

European Commission Consults on CBAM Reporting Obligations

Akin Gump Strauss Hauer & Feld LLP on 6/16/2023

On Tuesday, the European Commission published a draft Implementing Regulation for the Carbon Border Adjustment Mechanism (CBAM). The regulation sets rules for the reporting obligations during the CBAM transitional period that...more

CBAM – how the EU’s new carbon border tax will impact non-EU businesses

A&O Shearman on 6/9/2023

On 17 May 2023, the EU Regulation establishing a carbon border adjustment mechanism (the CBAM Regulation) came into force. The CBAM Regulation will become applicable in phases, with provisions applying from 1 October 2023, 31...more

EU adopts the Carbon Border Adjustment Mechanism Regulation

WilmerHale on 6/6/2023

On May 16, the Regulation establishing an EU Carbon Adjustment Mechanism (CBAM) was published in the Official Journal of the EU and entered into force the following day. Under the CBAM, importers into the EU of...more

Fit For 55 Package: EU Revises The EU Emissions Trading System And Establishes a New Carbon Border Adjustment Mechanism

K&L Gates LLP on 5/26/2023

In the last couple of years, the European Union has announced and adopted a wave of sustainability initiatives that will have significant implications for European and global companies across all industries. Among other...more

EU Parliament Approves Carbon Border Adjustment Mechanism

Beveridge & Diamond PC on 4/27/2023

The European Parliament voted in favor of implementing the Carbon Border Adjustment Mechanism (CBAM) after reaching a provisional agreement on the CBAM in December 2022. Several countries and the European Union (EU) have long...more

Introduction to the EU’s Emissions Trading System (UPDATED)

A&O Shearman on 4/20/2023

The EU emissions trading system (the EU ETS) is one of the key pillars of the EU’s policy to combat climate change and to reduce greenhouse gas emissions from regulated sectors....more

The EU Agreement on a Carbon Border Adjustment Mechanism

White & Case LLP on 3/17/2023

On December 13, 2022, the Council of the European Union ("the Council") and European Parliament came to a provisional agreement on the final text of a Carbon Border Adjustment Mechanism ("CBAM") regulation. The compromise...more

Delegated Acts of the European Commission concerning renewable fuels and assessing GHG emission savings

Hogan Lovells on 2/15/2023

Already for a while the European Commission was expected to adopt delegated acts on the basis of the so-called Renewable Energy Directive II (“RED II”) which determine specific criteria in relation to renewable transport...more

Green Deal Industrial Plan for the Net Zero Age – the EU’s Answer to the Inflation Reduction Act

Akin Gump Strauss Hauer & Feld LLP on 2/2/2023

Yesterday (1 Feb 2023) marked the launch by the European Commission (EC) of the Green Deal Industrial Plan for the Net Zero Age. Its introduction is aimed at a levelling up of the international playing field and combatting...more

European Parliament and Council Reach Agreement on Carbon Border Adjustment Mechanism and EU Emissions Trading System

White & Case LLP on 12/28/2022

The European Parliament and Council of the European Union have reached an agreement on the text of the EU Carbon Border Adjustment Mechanism regulation and the directive providing an updated EU Emissions Trading System....more

EU Reaches Agreement on Historic Carbon Border Adjustment Mechanism

K&L Gates LLP on 12/20/2022

On 13 December 2022, European co-legislators (European Parliament and Council of the EU) reached a political deal on the world’s first levy on carbon intensive goods—the so-called Carbon Border Adjustment Mechanism (CBAM)....more

Introduction to the EU’s Emissions Trading System

A&O Shearman on 11/2/2022

The EU Emissions Trading System (the EU ETS) is one of the key pillars of the EU’s policy to combat climate change and to reduce greenhouse gas emissions from regulated sectors....more

European Parliament and Council adopt positions on ETS and CBAM proposals: next steps—final agreement & formal adoption

White & Case LLP on 7/8/2022

The EU "Fit for 55" package, if adopted, will significantly reshape environmental regulation in Europe, with impact beyond the EU's borders. In this alert, we focus on developments in two of the most impactful files, the...more

EU Parliament Votes On Climate Agenda

Akin Gump Strauss Hauer & Feld LLP on 6/22/2022

During the plenary session held the first week of June, the European Parliament voted on several items related to the European Union’s (EU) “Fit for 55” climate package. Debate and division continue to be strong. Key...more

Not Just CO2 and Anti-climax: Tackling Methane Emissions is a Further Challenge for the Petroleum Industry in the Wake of COP26

Vinson & Elkins LLP on 2/7/2022

The Global Methane Pledge (GMP) was one of the few headline commitments announced at COP26. The response to the GMP indicates that tackling methane emissions is now firmly on the agenda for the petroleum industry... ...more

The European Parliament’s wish list on the Carbon Border Adjustment Mechanism (CBAM)

A&O Shearman on 1/20/2022

On 21 December 2021, the European Parliament’s (EP) Committee on the Environment, Public Health and Food Safety (the Committee) published its Draft Report on the proposal for a Regulation of the European Parliament and of the...more

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