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

Fit for 55 – EU aims to protect against carbon leakage with 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

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

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