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
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
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
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
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
The UK announced that it will require importers to pay a carbon levy on certain goods imported from countries with a lower or no carbon price. Covered goods under the UK’s carbon border adjustment mechanism (CBAM) likely...more
Good afternoon! This is Akin’s newsletter on climate change policy and regulatory developments, providing information on major climate policy headlines from the past few weeks and forthcoming climate-related events and...more
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
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
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
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
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
In a recent valedictory press interview, the Secretary-General of the Financial Stability Board (FSB), Dietrich Domanski, posited that attempts to convince banks to combat climate change will be insufficient without financial...more
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
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
On November 30, 2022, the Department of the Treasury and the Internal Revenue Service published Notice 2022-61 (the “Guidance”) describing how to satisfy certain prevailing wage and apprenticeship requirements (the “PWA...more
The Inflation Reduction Act (“IRA”) includes a variety of incentives, including tax credits and grants, for US industries to reduce greenhouse gas (“GHG”) emissions. The IRA also includes a significant “disincentive” for...more
On 25 May 2022, the German Federal Cabinet submitted a draft of the Carbon Dioxide Cost Sharing Act (Kohlendioxidkostenaufteilungsgesetz – CO2-KostAufG). This bill intends to regulate the sharing of costs for CO2 emissions...more
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
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
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
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
The Finance Act 2021 sets out a more sustainable and environmentally friendly tax system by legislating to implement a plastic packaging tax (Tax). The new Tax, which will come into force on 1 April 2022, will encourage the...more
Canadian singer-songwriter Joni Mitchell lamented the toil of deforestation in 1970: "They took all the trees, put 'em in a tree museum/And they charged the people a dollar and a half just to see 'em." More than 50 years...more
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