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

Changes to the carbon capture readiness requirements

BEIS has published a call for evidence on changes to the Carbon Capture Readiness (CCR) requirements. The proposed changes would significantly expand the categories of plants that would have to demonstrate they are decarbonisation ready as part of their permitting process, and it is important that all developers of thermal generation plant (including bioenergy) follow … 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

The future of lending to the oil and gas sector

Intense, continued focus on sustainability has put pressure on the oil and gas sector to openly demonstrate its efforts to effect change across the environmental, social and governance (ESG) spectrum. The sector is still a  critical one for energy transition, and for ensuring access to energy in developing markets, so it is important that the … 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

A General Counsel Guide to ESG

We’re delighted to share with you a major new report exploring the key trends and pressure points as general counsel mobilise to help companies tackle the high-stakes environmental, social and governance (ESG) agenda. Drawing on 20 extensive interviews with legal chiefs at major companies across the world, we explore the increasingly central role GCs are … Read more

Update to the Capacity Market Rules: Government response to consultation, June 2021

The government recently undertook a consultation on certain amendments they proposed for improving the Capacity Market (CM). The government’s response to the consultation on improvements was published in June 2021. Below we have summarised the amendments that are now being made. The government will publish an updated Guidance document ahead of the 2021 prequalification window … 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