UPDATE ON THE OFFSHORE TRANSMISSION NETWORK REVIEW

INTRODUCTION The Offshore Transmission Network Review (“OTNR“) was launched in July 2020 to ensure that transmission connections for offshore wind generation can be delivered to support the UK Government’s ambitions to increase offshore wind power to 40GW by 2030 and to deliver on its Net Zero ambitions. In April, Ofgem published two Minded-to Decisions as … Read more

EXPANDING THE UK EMISSIONS TRADING SCHEME TO COVER ESMISSIONS FROM WASTE

At the end of March, the UK Government published its long-awaited consultation (the “Consultation”) on the further development of the UK Emissions Trading Scheme (“UK ETS”) indicating the future capacity and scope of the UK scheme. The UK ETS was launched on 1 January 2021 to replace Great Britain’s participation in the EU ETS after … Read more

TNFD publishes beta version of Nature-related Risk & Opportunity Management and Disclosure Framework

The Taskforce on Nature-Related Financial Disclosures (TNFD) has published the first draft of its Nature-related Risk & Opportunity Management and Disclosure Framework (TNFD Framework); which, together with subsequent drafts, will be open to feedback from market participants for the next 18 months. The TNFD is aiming to publish a usable framework and set of recommendations … Read more

UPDATE: Rules and guidance for companies on climate-related disclosures

The Financial Conduct Authority (FCA) has published a Policy Statement (PS21/23) and final rules and guidance in relation to climate-related financial disclosures for standard listed companies. It has also updated its guidance on climate-related disclosures for premium and standard listed companies. 1. Rules for standard listed companies Under new Listing Rule 14.3.27R, standard listed companies … Read more

Global energy crisis explainer: Why it can’t be put on the backburner (podcast)

In this podcast, Paul Butcher, our Director of Public Policy, looks at: the unprecedented nature of the current situation for natural gas, coal and electricity the consequences we are seeing for industry and consumers what caused the crisis, including: the ‘series of unfortunate events’ the surprising consequences of the pandemic and new ways of working … Read more

Charging forward – Ofgem’s drive to electrify transport

On Saturday, 4 September 2021, Ofgem (the energy regulator in Great Britain) published its plans to further support the UK’s transition to electric vehicles (EVs) in the deployment of EVs and their integration into the electricity system. Ofgem aims to get the network ready for EVs and ensure there is sufficient network capacity for EV … Read more