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

Sharm El-Sheikh COP 27 – day 10 (17 November 2022)

Release of the draft text Thursday 17 November saw the UN climate agency publish the draft text of the COP27 overarching agreement, the focus of the last week of negotiations and the document that will symbolise COP27 for years to come. The text appeared to still be in a very preliminary stage and many voiced … Read more

UK Energy Security Bill introduced amid political turmoil has wide-ranging implications for the energy sector

The post below was first published on our Energy notes and Infrastructure notes blogs On 6 July 2022, a day of significant political uncertainty, the Government published its long-awaited Energy Security Bill. Notwithstanding the current political turmoil, this is expected to survive to become the most wide-ranging legislative reform of the UK’s energy market for … Read more

ESG Updates – The Bank of England Climate Biennial Exploratory Scenario

The Bank of England (“BoE“) has published the results of the Climate Biennial Exploratory Scenario (“CBES“), which explores the financial risks posed by climate change for the largest banks and insurers operating in the UK. In line with the findings of other central bank stress tests across the globe, the CBES found that while the … Read more

London Stock Exchange’s Proposed Voluntary Carbon Market

Further to the London Stock Exchange’s (“LSE”) announcement during COP26 that it was developing a market offering to support publicly traded carbon funds, the LSE launched a consultation last week on its new Voluntary Carbon Market (“VCM”). The consultation period closes on 11 July 2022 and the final rules are expected to be published by the end … Read more

COP26 SERIES: NATIONALLY DETERMINED CONTRIBUTIONS

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

COP26 SERIES: NATURE BASED SOLUTIONS

EXECUTIVE SUMMARY There is increasing interest in the role Nature-based Solutions’ (“NbS”) are to play in adaptation and mitigation of climate change at COP26. Its role, especially in the context of Article 6 relating to carbon markets, will be of critical concern to many countries and blocs especially Brazil and the African Group of Negotiators. … Read more