Asia is at the forefront of the global challenge to balance economic development, climate adaptation and mitigation, and energy security. The region is diverse, dynamic and pragmatic, facing both the risks and opportunities...more
A clear trend has emerged for CO2 allowances: dwindling availability coupled with escalating prices. At Orrick, we are seeing two key events which promise to further intensify this trajectory. Firstly, the upcoming regulatory...more
On May 16, the Regulation establishing an EU Carbon Adjustment Mechanism (CBAM) was published in the Official Journal of the EU and entered into force the following day. Under the CBAM, importers into the EU of...more
On 18 April 2023, the EU Parliament adopted the reform of the EU ETS. As key points, the reform includes stricter requirements for installations already subject to the EU ETS (“ETS I”), the gradual inclusion of maritime...more
Yesterday (1 Feb 2023) marked the launch by the European Commission (EC) of the Green Deal Industrial Plan for the Net Zero Age. Its introduction is aimed at a levelling up of the international playing field and combatting...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
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
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
Following the release of the European Commission’s proposal for a Carbon Border Adjustment Mechanism (“CBAM Proposal”) on 14 July 2021 as part of the “Fit for 55” legislative package aimed at reducing the EU’s greenhouse gas...more
Report on Supply Chain Compliance 3, no. 1 (January 9, 2020) - European Commission President Ursula von der Leyen unveiled the new Green Deal on Dec. 11, including a formal intention to include maritime shipping in the...more