RUSSIA MAKES FURTHER STEPS TOWARDS GHG EMISSIONS REDUCTION

    In one of our previous articles we provided an update on greenhouse gas (“GHG“) regulation in Russia covering, among other matters, the draft Russian law on reduction of GHG emissions. With active discussions regarding the EU carbon border adjustment mechanism (“CBAM“) in the background,[1] the revised draft finally became law on 2 June 2021[2] (the … Read more

    Fit for 55 – EU proposal for amendments to the emissions trading system

    The EU Commission has published a proposed Directive to amend the EU (Emissions Trading System) ETS Directive (Directive 2003/87/EC), the Market Stability Reserve (MSR) Decision (Decision (EU) 2015/1814) and the MRV Regulation (Regulation 2015/757). Being part of the EU’s “Fit for 55 Package”, the purpose of these amendments is to align the EU ETS Directive … Read more

    Fit for 55 – European Commission publishes its proposal for 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

    A look at the new Sustainability Disclosure Requirements

    On 1 July 2021, Chancellor of the Exchequer Rishi Sunak announced plans to introduce new Sustainability Disclosure Requirements (SDRs). These represent additional disclosure requirements to those required by the Task Force on Climate-Related Financial Disclosures (TCFD) framework. What are SDRs? The government’s announcement indicates that the new SDR regime would apply to companies, pension schemes … 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

    Listing Regime – FCA consultation on enhanced climate-related financial disclosures

    The Financial Conduct Authority (FCA) has published a consultation on enhancing climate-related disclosures by standard listed companies (CP21/18).  This consultation follows the FCA’s policy statement (PS20/17) on climate related disclosures by premium listed companies, published in December 2020, which introduced Listing Rule 9.8.6(8), requiring premium listed companies to report climate-related information in line with the … Read more

    Leading the legal sector on climate change with Net Zero Lawyers Alliance

    Herbert Smith Freehills is joining forces with other legal sector leaders to fight climate change through the Net Zero Lawyers Alliance (NZLA) – a coalition of commercial law firms committed to helping the world achieve net-zero carbon emissions by 2050. Justin D’Agostino joined leaders from a number of international law firms and corporates to launch the … Read more

    London Climate Action Week – 26 June to 4 July 2021

    We are proud to be a part of London Climate Action Week 2021 (LCAW), the annual event bringing together world-leading climate professionals and communities across London and beyond to find practical solutions to climate change. Founded in 2019, LCAW is the largest independent climate change event in Europe, helping to shape our future into one that is … Read more

    FUTURE CITIES – THE PODCAST SERIES

    Building on our series exploring the prospects of the modern city, our new podcast brings you interviews, commentary and fresh perspectives on one of the defining social and economic forces of modern life. Tune in and hear from our leading figures across a range of disciplines as they join industry experts to share insights and … Read more