COP26 SERIES: CARBON MARKET MECHANISMS AND COP26

OVERVIEW The Paris Agreement, adopted by 196 Parties at COP21 in Paris, aims to limit global warming to below 2, preferably to 1.5, degrees Celsius compared to pre-industrial levels. The Paris Agreement included a number of methods and goals for achieving this target. In particular, Article 6 contains three carbon pricing mechanisms, two of which … Read more

UN CLIMATE CHANGE CONFERENCE (COP26)

As nearly 200 nations descend on Glasgow from 1 November for the 26th Conference of the Parties (COP26), the UN-backed forum for tackling climate change, the annual summit will be a defining moment in the battle to mobilise states and policymakers. The first COP to assess government climate plans submitted under the Paris Agreement, the … Read more

The IPCC 2021 Climate Change Report – An Overview

The United Nations Intergovernmental Panel on Climate Change (IPCC) has released its 2021 AR6 climate change report (Report), as well as a summary for policy leaders. The Report addresses the current understanding of the climate system and climate change as well as the future possibilities of what could occur. In early 2022, the IPCC plans … Read more

A climate change duty of care: Sharma v Minister for the Environment

The recent decision of Justice Bromberg in Sharma v Minister for the Environment [2021] FCA 560 found that a novel duty of care is owed by the Minister for the Environment to Australian children who might suffer potential “catastrophic harm” from the climate change implications of approving the extension to the Vickery coal mine in New South Wales. The decision is likely to have consequences for environmental impact assessment and approval of projects with a material emissions profile under the EPBC Act, as well as other similar regimes. The decision has been handed down in the context of a growing body of case law in Australia and overseas recognising the impact of climate change on government decision-making and private law duties. We expect further actions in Australia by plaintiffs seeking to expand these duties on both governments and private companies in analogous contexts. Read more

Australian Government splashes the cash in positive step towards cutting emissions

The Australian Government has committed over AUS$1.1 billion for hydrogen, CCS/CCUS and international technology partnerships. The funding comes from the 2021-2022 Federal budget and broadly consists of: AUS$275.5m for the development of four hydrogen hubs AUS$263.7m for the development of CCS/CCUS projects AUS$565.8m for international technology partnerships This week’s Federal Government’s commitment sees some AUS$1.1 … Read more

Navigating the energy transition to net zero – the course is set

For decades, pressure has been building on the energy sector to decarbonise. In 2020, we witnessed a paradigm shift in the sector. Offering investors a low carbon future Pressure to decarbonize has been driven by growing evidence and awareness of the link between burning hydrocarbons and climate change, and the prevalence of hydrocarbons in our … Read more

The Taxonomy Regulation: an overview

On 18 June 2020,  the European Parliament adopted the regulation on the establishment of a framework to facilitate sustainable investment[1] (the Taxonomy Regulation), a milestone in the EU’s Action Plan on Sustainable Finance (the Action Plan). It has since been published in the Official Journal and entered into force on 12 July 2020. The EU-wide green taxonomy set out … Read more

Queensland case to focus on the human rights implications of climate change

A group of young Queenslanders is challenging the mining lease and environmental approval for the Waratah coal mine, part of the Galilee Coal Project. Although detailed grounds are not yet available, statements on behalf of the group indicate that the grounds will explicitly link climate change with human rights in a way that is novel … Read more