Dutch court orders Shell to reduce CO2 emissions by 45% by the end of 2030 relative to 2019 levels in accordance with Paris climate agreement

On 26 May 2021, the Hague District Court handed down its judgment in the Milieudefensie et al. vs. Royal Dutch Shell (“RDS“) case regarding RDS’s compliance with the objectives of the 2016 Paris Agreement. The claim was brought by seven environmental associations and NGOs acting as co-claimants –  led by Milieudefensie (Friends of the Earth … Read more

ESMA final report on Article 8 of the EU Taxonomy Regulation

On 1 March 2021 the European Securities and Markets Authority (ESMA) published its Final Report on advice under Article 8 of the Taxonomy Regulation. The Final Report outlines the information that non-financial undertakings and asset managers need to provide to comply with their disclosure obligations under the Non-Financial Reporting Directive (NFRD). The Taxonomy Regulation came into force on 12 July 2020, … Read more

EU Taxonomy Regulation – proposed technical screening criteria for climate change mitigation and adaptation

On 20 November 2020 the European Commission published the proposed draft technical screening criteria for climate change mitigation and adaptation in the form of a draft delegated regulation, which was open to consultation until 18 December 2020. The Taxonomy Regulation came into force on 12 July 2020, and establishes the framework for the EU taxonomy by setting out … 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

The new environment for Climate Change Litigation

The Dutch Supreme Court (the Court) has recently affirmed a decision of the District Court to issue an order directing the State of the Netherlands to reduce it’s greenhouse gas emissions by the end of 2020 by at least 25% of the emissions as at 1990. The order issued by the District Court now stands as a … Read more