EUROPEAN COMMISSION PUBLISHES ITS PROPOSAL FOR A CARBON BORDER ADJUSTMENT MECHANISM (EU CBAM)

On 14 July 2021, the European Commission (the Commission) published its proposed regulation which would establish a carbon border adjustment mechanism (EU CBAM) (the Regulation), and is intended to come into effect, subject to transitional provisions, from 1 January 2023. The Regulation would require importers of certain goods to purchase a number of electronic certificates, … Read more

A look at the new Sustainability Disclosure Requirements

On 1 July 2021, Chancellor of the Exchequer Rishi Sunak announced plans to introduce new Sustainability Disclosure Requirements (SDRs). These represent additional disclosure requirements to those required by the Task Force on Climate-Related Financial Disclosures (TCFD) framework. What are SDRs? The government’s announcement indicates that the new SDR regime would apply to companies, pension schemes … Read more

Fit for 55: EU reveals suite of proposals to combat climate change

The EU has revealed its ‘fit for 55’ suite of policies, which extends to about 2,000 pages and is designed to take a pro-active approach to combating climate change and to introduce a suite of proposals aimed at making Europe ‘the first climate neutral continent in the world’. Fit for 30: striking a balance The … Read more

Listing Regime – FCA consultation on enhanced climate-related financial disclosures

The Financial Conduct Authority (FCA) has published a consultation on enhancing climate-related disclosures by standard listed companies (CP21/18).  This consultation follows the FCA’s policy statement (PS20/17) on climate related disclosures by premium listed companies, published in December 2020, which introduced Listing Rule 9.8.6(8), requiring premium listed companies to report climate-related information in line with the … Read more

Leading the legal sector on climate change with Net Zero Lawyers Alliance

Herbert Smith Freehills is joining forces with other legal sector leaders to fight climate change through the Net Zero Lawyers Alliance (NZLA) – a coalition of commercial law firms committed to helping the world achieve net-zero carbon emissions by 2050. Justin D’Agostino joined leaders from a number of international law firms and corporates to launch the … Read more

London Climate Action Week – 26 June to 4 July 2021

We are proud to be a part of London Climate Action Week 2021 (LCAW), the annual event bringing together world-leading climate professionals and communities across London and beyond to find practical solutions to climate change. Founded in 2019, LCAW is the largest independent climate change event in Europe, helping to shape our future into one that is … Read more

FUTURE CITIES – THE PODCAST SERIES

Building on our series exploring the prospects of the modern city, our new podcast brings you interviews, commentary and fresh perspectives on one of the defining social and economic forces of modern life. Tune in and hear from our leading figures across a range of disciplines as they join industry experts to share insights and … Read more

Bank of England launches Climate Biennial Exploratory Scenario

On Tuesday 8 June, the Bank of England launched its Climate Biennial Exploratory Scenario (BES), a stress-testing exercise on the financial risks from climate change. While the regulator’s rhetoric may sound like a call to arms, the BES hopes to understand the issues the financial system faces to ensure that real change is effected by … Read more