Peter Zaman

Peter Zaman

Reed Smith

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Glimpses of Phase 4 of the EU ETS - The 2030 Climate and Energy Policy framework

Summary - On 24 October 2014, the European Council (the “Council”) announced a package of measures (the “Conclusions”) designed to further reduce the bloc’s greenhouse gas emissions by 2030. The Conclusions reflect the...more

11/7/2014 - Energy Policy EU EU ETS Greenhouse Gas Emissions

Judicial review suspends LME implementation of warehouse queue rule

Following a judicial review action brought by the Russian aluminium producer, United Company Rusal plc (“Rusal”), the English High Court has decided that the LME’s consultation in relation to the introduction of a rule aiming...more

4/1/2014 - Human Rights Judicial Review Warehouses

Aviation Emissions: The ICAO outcome and its impact on the EU aviation emissions trading scheme

Synopsis - As the EU Parliament prepares to vote on the latest proposals to amend the Aviation ETS, this client alert examines the proposals in the context of the developments at the ICAO Assembly held in October...more

1/7/2014 - Aviation Industry Carbon Emissions EU Greenhouse Gas Emissions ICAO

COP 19 – Day 11 of the Conference

Introduction - The focus of Thursday’s high-level ministerial discussions turned to the Durban Platform and sought to capitalise on the common ground that was established yesterday in the AWG-DP....more

11/26/2013 - China Climate Change COP Greenhouse Gas Emissions United Nations

COP 19 – Day 10 of the Conference

Introduction - The high-level ministerial discussions continued on Wednesday with a focus on trying to reach a consensus as to scaling up finance to the “magic number” of US$100 billion per year by 2020....more

11/22/2013 - Climate Change COP Greenhouse Gas Emissions Kyoto Protocol Private Investment Funds United Nations

COP 19 – Day 9 of the Conference

Tuesday saw the opening ceremony of the high-level segment at COP 19 and CMP 9. As is customary, the curtain raiser began with numerous statements from a variety of heads of state and government ministers....more

11/21/2013 - Carbon Emissions Climate Action Plan Climate Change Global Warming Greenhouse Gas Emissions

COP 19 – Day 8 of the Conference

The second week of the conference began with the COP President calling an informal stocktaking session, aiming to unite and focus the parties ahead of a week of hopefully more productive negotiations as the ministers begin to...more

11/20/2013 - Carbon Emissions Climate Change Greenhouse Gas Emissions

COP 19 – Day 5, 6 and 7 of the Conference

Friday’s meetings continued the trend of informal consultations and contacts groups, slowing striving towards substantive progress. The closure of the 39th SBSTA and SBI meetings, and the associated closing plenaries,...more

11/19/2013 - Carbon Emissions Climate Change Energy Global Warming Greenhouse Gas Emissions

COP 19 – Day 4 of the Conference

Frantic meeting schedules continued at the Conference against the back drop of news that Japan will announce a reduction in its 2020 greenhouse gases (GHGs) emissions target. Japan is expected to announce today that it will...more

11/18/2013 - Carbon Emissions Climate Action Plan Climate Change Environmental Policies Greenhouse Gas Emissions

COP 19 – Day 3 of the Conference

Day 3 continued where day 2 left off, with more meetings, contact groups, informal discussions, workshops and other events taking place under the COP, AWG-DP, SBSTA and SBI....more

11/14/2013 - Climate Change COP Greenhouse Gas Emissions United Nations

COP 19 – Day 2 of the Conference

Having completed the formalities of COP 19 on Day 1, Day 2 opened with a plenary meeting of the AWG-DP. Through the course of the day, contact groups, informal consultations, workshops and other events convened under the...more

11/13/2013 - Climate Change COP United Nations

COP 19 – Day 1 of the Conference

The Conference opened Monday in Warsaw with speeches by the newly elected President of COP 19/CMP 9, His Excellency Marcin Korolec (Poland’s Environment Minister), and Ms. Christiana Figueres (Executive Secretary of the...more

11/13/2013 - Carbon Emissions Climate Change Environmental Impact Report Greenhouse Gas Emissions

COP 19 – Setting Expectations

Introduction - The 19th Conference of the Parties (“COP”) to the United Nations Framework Convention on Climate Change (the “Convention”) opens today at the National Stadium in Warsaw, the Republic of Poland. For those...more

11/12/2013 - Climate Change COP United Nations

A bull rush for bullion in Asia

For background information on bullion trading, see the Q&A at the bottom of this alert. Singapore’s growth as a global commodity trading hub continues, with recent developments affecting the city’s role in the precious...more

9/3/2013 - Commodities Contract Drafting Contract Formation Custodians Investors Leases Metals Trade Policy

LME Warehousing Queues: Will the new LME Proposal have an impact?

Introduction - When purchasing the London Metal Exchange (the “LME”) last year, the new owner, Hong Kong Exchanges and Clearing (HKEx), knew it was inheriting a concern that has been developing progressively since...more

8/12/2013 - China Commodities Delays HKEx London Metal Exchange Metals Warehouses

EMIR – Summary of Key Requirements

The European Markets Infrastructure Regulation (EMIR) introduces requirements aimed at improving transparency and the reduction of risks associated with the derivatives market. EMIR also establishes organisational, conduct of...more

6/17/2013 - EEA EMIR ESMA Investment Portfolios Mandatory Clearing Requirements OTC Reporting Requirements Risk Mitigation

The making of Emissions Trading laws – understanding the EU legislative process

Introduction - Unlike most traded commodity markets, the market for trading carbon credits or emissions allowances in the EU is not one based on its utility, usage or consumption. A carbon credit is not used in...more

5/9/2013 - Cap-and-Trade Carbon Auctions EU Legislative Process

COP18 - Doha 2012: Day 12 & 13 of the Conference

Introduction - The plenary sessions of the AWG-LCA and AWG-DP finally closed in the late afternoon of Friday 7 December 2012, leaving many issues to be put to the COP for resolution. With the COP meeting only opening for...more

12/12/2012 - Climate Change COP Green Energy Kyoto Protocol

COP18 - Doha 2012: Day 11 of the Conference

Introduction - The AWG-KP closed on Thursday 6 December 2012 amidst on-going discussions in the other Working Groups. The atmosphere is beginning to become tense as delegates see the end of the conference approaching...more

12/7/2012 - Energy Policy Greenhouse Gas Emissions Renewable Energy

COP18 - Doha 2012: Day 10 of the Conference

Introduction - The high-level segment continued on Wednesday 5 December 2012, slowly drawing together the threads of agreement. A further stocktaking plenary session was held in the evening to assess progress, but the...more

12/6/2012 - Energy Policy Greenhouse Gas Emissions Renewable Energy

COP18 - Doha 2012: Day 9 of the Conference

Introduction - The high-level segment of the conference opened on Tuesday 4 December 2012, sandwiched between further contact group meetings and informal consultations. The buzz from Monday continues to permeate the...more

12/5/2012 - Energy Policy Greenhouse Gas Emissions Renewable Energy

COP18 - Doha 2012: Day 8 of the Conference

Introduction - “It must be understood that what we are negotiating here is a complete transformation of the economic structure of the world. This cannot happen overnight…” said Christiana Figueres, the head of the UN...more

12/5/2012 - Climate Change COP

COP18 - Doha 2012: Day 5, 6 & 7 of the Conference

The prospect of having nothing clearly agreed after a week of negotiations seemed to hang over proceedings on Friday 30 November 2012. However, as the sun set on Saturday 1 December 2012, the delegates’ motivation began to...more

12/3/2012 - COP Greenhouse Gas Emissions

COP18 - Doha 2012: Day 4 of the Conference

Introduction - With finance at the top of the agenda on “Youth Day” Thursday 29 November 2012 there was broad concern to avoiding falling down a “climate finance cliff” as the European Commission’s lead climate...more

12/3/2012 - COP Greenhouse Gas Emissions

COP18 - Doha 2012: Day 3 of the Conference

Introduction - The discussions continued on Wednesday 28 November 2012 against the backdrop of protests by the Youth Group, demonstrating for an increase in the parties’ ambitions. The Doha Conference: Day Three...more

11/29/2012 - Climate Change Greenhouse Gas Emissions Kyoto Protocol

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