Sharm El-Sheikh COP 27 – final round-up

Final days Negotiations at COP 27 spilled over into the weekend and finished more than 36 hours later than expected. Whilst agreement was met on many key issues, there were multiple points that remained contentious. These include: A resolution that peak emissions should occur in 2025 (and that after that date, world emissions should start … Read more

The Regional Court of Stuttgart dismisses claim in a series of climate change lawsuits against automakers and oil and gas company

Background In autumn 2021, individuals affiliated with Deutsche Umwelthilfe, Fridays for Future and Greenpeace filed claims at various German courts against automakers (BMW AG, Mercedes-Benz AG and Volkswagen AG) and Germany’s largest oil and gas company (Wintershall Dea AG). The plaintiffs inter alia requested an order that the automakers are to cease and desist from … Read more

Starting shot for the implementation race – Initial thoughts on the SFDR RTS adopted on 6 April 2022

The wait is finally over: On 6 April 2022, the EU Commission adopted the Regulatory Technical Standards (“RTS”) for the Sustainable Finance Disclosure Regulation (“SFDR”). Below we have set out our initial thoughts on this text which will be a central working document for the full implementation of SFDR by the financial services industry. Based in part on … Read more

TNFD publishes beta version of Nature-related Risk & Opportunity Management and Disclosure Framework

The Taskforce on Nature-Related Financial Disclosures (TNFD) has published the first draft of its Nature-related Risk & Opportunity Management and Disclosure Framework (TNFD Framework); which, together with subsequent drafts, will be open to feedback from market participants for the next 18 months. The TNFD is aiming to publish a usable framework and set of recommendations … Read more


On 2 February 2022 the European Commission approved in principle a Complementary Climate Delegated Act (the “Complementary Delegated Act“) which includes criteria for nuclear and gas energy activities under the EU taxonomy. The Complementary Delegated Act will amend Delegated Regulation (EU) 2021/2139, which supplements the EU Taxonomy Regulation 2020/852, and provides a set of criteria … Read more

The European Commission’s proposal on deforestation and forest degradation

Deforestation and forest degradation are increasing at an alarming rate, exacerbating climate change and biodiversity loss. The increasing use of agricultural land to produce commodities (such as wood, beef, palm oil, soy, cocoa, and coffee) is one of the primary causes of deforestation and forest degradation. As a result, the European Commission has proposed a … Read more


As the 2021 United Nations Climate Change Conference (COP26 or the Conference) draws near, the spotlight on international efforts to tackle climate change intensifies. COP26 is an important Conference for many reasons, one of which is that it will be the first Conference at which new and/or updated Nationally Determined Contributions (NDC) will be discussed. WHAT ARE … Read more