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European Union › Emissions Trading System › Climate Change

The European Union is an economic and political partnership comprised of 27 nations within the Eurozone. The EU was established in 1948 to promote stability and cooperation among member states in the aftermath of... more +
The European Union is an economic and political partnership comprised of 27 nations within the Eurozone. The EU was established in 1948 to promote stability and cooperation among member states in the aftermath of WWII. The EU maintains a common currency as well as several intranational institutions, including the European Parliament and the European Commission. less -
White & Case LLP

Picking up speed on the road to carbon-neutrality

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The drive to achieve a carbon-neutral future is accelerating. Through the 2015 Paris Climate Agreement, nations committed to curbing climate change by limiting global temperature increases to no more than 2°C above...more

Seward & Kissel LLP

The European Union Emissions Trading System is on the horizon for the maritime transportation sector

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The European Union Emissions Trading System (EU ETS) is coming into effect for the maritime transportation sector on January 1, 2024. Here’s what that means. Background - The EU ETS launched in 2005 and on May 10, 2023...more

A&O Shearman

The UK gives the green light to a UK CBAM and consults on the UK ETS

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The UK has finally confirmed that it will be following the EU and introducing its own Carbon Border Adjustment Mechanism (CBAM) to be implemented by 2027. It published the eagerly awaited outcome of its consultation on...more

Jones Day

Transitioning Into the European Carbon Border Adjustment Mechanism

Jones Day on

As part of the Fit for 55 Package of the EU Green Deal, the EU Carbon Border Adjustment Mechanism("CBAM"), adopted through Regulation (EU) 2023/956 of May 10, 2023, is considered by the EU institutions as a key tool to become...more

Akin Gump Strauss Hauer & Feld LLP

European Commission Consults on CBAM Reporting Obligations

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On Tuesday, the European Commission published a draft Implementing Regulation for the Carbon Border Adjustment Mechanism (CBAM). The regulation sets rules for the reporting obligations during the CBAM transitional period that...more

WilmerHale

EU adopts the Carbon Border Adjustment Mechanism Regulation

WilmerHale on

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

Hogan Lovells

Reform of the EU Emissions Trading System (EU ETS) - Extension of the EU ETS to the shipping sector

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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

Beveridge & Diamond PC

EU Parliament Approves Carbon Border Adjustment Mechanism

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The European Parliament voted in favor of implementing the Carbon Border Adjustment Mechanism (CBAM) after reaching a provisional agreement on the CBAM in December 2022. Several countries and the European Union (EU) have long...more

Akin Gump Strauss Hauer & Feld LLP

UK Opens Consultation on Policy Responses to Carbon Leakage

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On 30 March 2023, the United Kingdom Department for Energy Security and Net Zero (DESNEZ) and the UK Treasury opened a public consultation on policies to reduce carbon leakage risk and support decarbonisation, especially in...more

Akin Gump Strauss Hauer & Feld LLP

Green Deal Industrial Plan for the Net Zero Age – the EU’s Answer to the Inflation Reduction Act

Akin Gump Strauss Hauer & Feld LLP on

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

Cadwalader, Wickersham & Taft LLP

Regulation: EU Reaches Agreement on Carbon Border Tax

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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

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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

Beveridge & Diamond PC

EU Reaches Provisional Agreement on Carbon Border Adjustment Mechanism

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Both the European Union (EU) and the U.S. have recently taken steps toward implementing some form of a carbon border adjustment mechanism (CBAM). Several countries and the EU have long considered enacting legislation that...more

Latham & Watkins LLP

European Parliament and European Council Reach Provisional Agreement on Carbon Border Adjustment Mechanism

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The CBAM would seek to mitigate carbon leakage through the imposition of a levy on carbon-intensive imports into the EU, while free allowances under EU ETS would be phased out. On 13 December 2022, negotiators from the...more

A&O Shearman

Introduction to the EU’s Emissions Trading System

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The EU Emissions Trading System (the EU ETS) is one of the key pillars of the EU’s policy to combat climate change and to reduce greenhouse gas emissions from regulated sectors....more

White & Case LLP

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

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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

Akin Gump Strauss Hauer & Feld LLP

EU Parliament Votes On Climate Agenda

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During the plenary session held the first week of June, the European Parliament voted on several items related to the European Union’s (EU) “Fit for 55” climate package. Debate and division continue to be strong. Key...more

K&L Gates LLP

Brussels Regulatory Brief: January 2022

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ANTITRUST AND COMPETITION - European Commission Blocks a Global Transaction Involving Two Leading South Korean Shipbuilders - On 12 November 2019, a South Korean leading shipbuilder (the Notifying Party) notified to the...more

A&O Shearman

The European Parliament’s wish list on the Carbon Border Adjustment Mechanism (CBAM)

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On 21 December 2021, the European Parliament’s (EP) Committee on the Environment, Public Health and Food Safety (the Committee) published its Draft Report on the proposal for a Regulation of the European Parliament and of the...more

Latham & Watkins LLP

UK Navigates Post-Brexit Challenges in the Environmental Regulatory Landscape

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The triggering of the CCM under the UK ETS and ongoing consultations under UK Reach signal speedbumps in the transition process. On 30 November 2021, the UK government’s Department of Business, Energy and Industrial...more

Akin Gump Strauss Hauer & Feld LLP

Developments in Emissions Trading in the U.K. and EU

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As the delegates of the 26th Conference of the Parties to the United Nations Framework Convention on Climate Change (UNFCCC) (COP26) return from two hard weeks in Glasgow, significant progress has been made on establishing...more

Hogan Lovells

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

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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

White & Case LLP

Evolving trade and competition regulation in the push for green metals

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The metals sector is an attractive target for decarbonization due to the energy-intensive nature of traditional production processes. Carbon: the next frontier of commodities trade tensions - Governments around the...more

Hogan Lovells

The EU Carbon Border Adjustment Mechanism : inspiration for others or Pandora’s box?

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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

Hogan Lovells

“Double charging” for carbon emissions through EU ETS and national emissions trading and how to avoid it

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With the introduction of the German national fuel emissions trading system at the beginning of the year, the procurement costs for several energy sources have increased in many energy intensive industries in Germany....more

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