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Baker Botts L.L.P.

P2N0 - Edition 14 - News and Views on the Drive Towards Net-Zero GHG Emissions

Baker Botts L.L.P. on

Welcome to the fourteenth edition of P2N0 covering the drive to reduce greenhouse gas (GHG) emissions to net-zero (NZE). P2N0 identifies significant news items globally, reporting on them in short form, focusing on policy...more

Bennett Jones LLP

Government of Alberta Unveils Further Details Regarding the Alberta Carbon Capture Incentive Program

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On April 3, 2024, the Alberta Government released additional details on the Alberta Carbon Capture Incentive Program (ACCIP), which will support and accelerate the development of new carbon capture, utilization and storage...more

Mayer Brown

Singapore’s Carbon Regulations: Paving The Way For The Green Plan 2030

Mayer Brown on

Recognising the threat of climate change and the importance of sustainable development, Singapore has made a commitment to establishing a robust framework of environmental and climate change laws and regulations – an...more

McDermott Will & Emery

EU Carbon Border Adjustment Mechanism: Reporting Deadlines Approaching

McDermott Will & Emery on

By 31 January 2024, as part of the Carbon Border Adjustment Mechanism, importers of cement, iron and steel, aluminium, fertilisers and hydrogen must report to the European Commission the embedded carbon emissions relating to...more

Latham & Watkins LLP

UK Government Announces New Import Carbon Pricing Mechanism

Latham & Watkins LLP on

Goods imported into the UK from countries with a lower or no carbon price will face a levy by 2027. On 18 December 2023, the UK government announced a proposal for a new carbon border adjustment mechanism (UK CBAM)....more

Holland & Knight LLP

Suspenden proyecto de bonos de carbono en Colombia por falta de consulta previa

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Una juez en segunda instancia en Colombia mediante sentencia del 23 de agosto de 2023, ordenó la suspensión de un proyecto de bonos de carbono, que según la comunidad indígena accionante se realizó con vulneración al derecho...more

Latham & Watkins LLP

China Plans to Relaunch Its Carbon Credits Program

Latham & Watkins LLP on

The draft New Measure aims to enhance the environmental integrity of China’s carbon market by introducing new requirements for project registration and credit issuance. China is preparing to relaunch its carbon credits...more

A&O Shearman

CBAM – how the EU’s new carbon border tax will impact non-EU businesses

A&O Shearman on

On 17 May 2023, the EU Regulation establishing a carbon border adjustment mechanism (the CBAM Regulation) came into force. The CBAM Regulation will become applicable in phases, with provisions applying from 1 October 2023, 31...more

Holland & Knight LLP

DIAN de Colombia expide segundo concepto general sobre el impuesto nacional al carbono

Holland & Knight LLP on

El subdirector de normativa y doctrina de la Dirección de Impuestos y Aduanas Nacionales (DIAN) de Colombia, el 26 de enero de 2023, expidió el segundo concepto general sobre el impuesto nacional al carbono, con el cual...more

BakerHostetler

Overview of the Inflation Reduction Act's Methane Tax

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Part I of this three-part methane update discussed the state of substantive methane regulation in the United States and touched on the Inflation Reduction Act’s (“IRA” or “the Act”) addition of Section 136 to the Clean Air...more

Cadwalader, Wickersham & Taft LLP

Regulation: EU Reaches Agreement on Carbon Border Tax

Environmental regulators and ministers from across the EU member states provisionally approved the introduction of the world’s first major carbon border tax, the Carbon Border Adjustment Mechanism (CBAM), which will require...more

White & Case LLP

European Parliament and Council Reach Agreement on Carbon Border Adjustment Mechanism and EU Emissions Trading System

White & Case LLP on

The European Parliament and Council of the European Union have reached an agreement on the text of the EU Carbon Border Adjustment Mechanism regulation and the directive providing an updated EU Emissions Trading System....more

White & Case LLP

European Parliament and Council adopt positions on ETS and CBAM proposals: next steps—final agreement & formal adoption

White & Case LLP on

The EU "Fit for 55" package, if adopted, will significantly reshape environmental regulation in Europe, with impact beyond the EU's borders. In this alert, we focus on developments in two of the most impactful files, the...more

Vinson & Elkins LLP

Carbon Taxes in the Shipping Industry—Assessing Japan’s Proposal

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There are growing calls for a carbon tax on shipping emissions. Jim Loftis, Ciara Ros and Tatiana Freeman of Vinson & Elkins look at the recent proposal from Japan for a global carbon tax, assess it in the context of the...more

Bennett Jones LLP

Canadian Budget Proposes New Investment Tax Credit For Carbon Capture, Utilization and Storage

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The 2022 Canadian Federal Budget, released on April 7, 2022, sets the fundamental groundwork of the Government of Canada's goals for national economic development. Following Canada's announcement of its 2030 Emissions...more

Akin Gump Strauss Hauer & Feld LLP

Singapore Budget 2022: Scaling up Decarbonisation

Budget 2022 - On Friday 18th February, Singapore’s Minister for Finance, Mr Lawrence Wong, delivered the country’s 2022 Budget Statement, setting out the Government’s spending plans for the current year and beyond. One of...more

A&O Shearman

Indonesia passes carbon tax bill as part of GHG regulation effort

A&O Shearman on

There are two important legislative developments in Indonesia as the country attempts to meet its obligations under the Paris Agreement. Indonesia’s House of Representatives (Dewan Perwakilan Rakyat or DPR) has passed an...more

Hogan Lovells

The EU Carbon Border Adjustment Mechanism proposal and considerations for U.S. businesses

Hogan Lovells on

The EU CBAM proposal signals a transformation of the European carbon pricing regulations. U.S. businesses with significant European operations, or with operations in emissions-intensive, trade-exposed industry sectors, should...more

Gray Reed

Climate Change 101 for Landmen and Lawyers: Uninhabitable Earth or False Alarm? (Part 5)

Gray Reed on

This is the conclusion of a five part series reviewing False Alarm, How Climate Panic Costs us Trillions, Hurts the Poor, and Fails to Fix the Planet, by Bjorn Lomborg. ...more

Akin Gump Strauss Hauer & Feld LLP

UK’s Post Brexit Emissions Trading Scheme Goes Live

As a consequence of Brexit, the United Kingdom also left the European Union Emissions Trading System (EU ETS). The U.K.’s replacement cap and trade program, the U.K. Emissions Trading Scheme (U.K. ETS), went live on Wednesday...more

Perkins Coie

Carbon Sequestration Tax Credits: Section 45Q

Perkins Coie on

When the Bipartisan Budget Act of 2018 was passed into law, it expanded the §45Q2 tax credit, an important federal incentive encouraging private investment in the development and use of carbon capture technologies and...more

Gray Reed

Climate Change 101 for Landmen and Lawyers: Uninhabitable Earth or False Alarm? (Part 4)

Gray Reed on

This is a continuation of a five part series reviewing False Alarm, How Climate Panic Costs us Trillions, Hurts the Poor, and Fails to Fix the Planet, by Bjorn Lomborg....more

Gray Reed

Climate Change 101 for Landmen and Lawyers: Uninhabitable Earth or False Alarm? (Part 3)

Gray Reed on

This is a continuation of a five part series reviewing False Alarm: How Climate Panic Costs us Trillions, Hurts the Poor, and Fails to Fix the Planet by Bjorn Lomborg. ...more

WilmerHale

The Biden Administration’s Approach to the Social Cost of Carbon

WilmerHale on

As part of his comprehensive climate change agenda, President Biden convened a task force to assess the social cost of greenhouse gases. At the end of February, the task force published an interim report estimating the “cost”...more

McDermott Will & Emery

The Carbon Tax Checklist

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Many stakeholders have called for the United States to adopt a carbon tax. Such a tax could raise billions of dollars in annual revenue while simultaneously reducing greenhouse gas emissions. Several carbon tax proposals were...more

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