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Climate Change

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Climate change is recognised as one of the greatest threats facing the world.  In response, the drive towards a low carbon economy is gathering pace.  Our practice assists clients with challenges and opportunities emerging from the regulatory and corporate response to climate change. 

In the UK, the groundbreaking Climate Change Act received Royal Assent in November 2008.  This provides framework legislation to deliver a low carbon economy.  The key target is a statutory duty on UK Government to reduce greenhouse gas emissions by at least 80% by 2050, with an intermediate goal of at least a 26% reduction by 2020.

The Carbon Reduction Commitment (“CRC”) introduces the UK wide mandatory emissions trading scheme for large, non energy intensive business and public sector organisations that is due to commence in April 2010.  The CRC will apply to any corporate group or public sector organisation that consumes 6000 MWh or more of electricity.  Businesses such as retailers, hotel chains, large office space businesses and institutional landlord will be affected.

The EU has adopted a legal framework to address the emissions of energy intensive sectors.  The Emissions Trading Directive established the EU Emissions Trading Scheme (EU ETS) which came into effect on January 2005, with a new scheme currently under negotiation. The EU ETS is the largest cap and trade scheme and it is proposed to extend it to the aviation sector.

As climate change issues involve several practice teams, we have formed a Climate Change Focus Group which offers our clients integrated legal services on all aspects of climate change such as emission tradings, carbon credit, clean development mechanism and joint implementation projects, climate change levy, climate change agreement, carbon offsetting, carbon capture and storage, strategic advice, monitoring of emerging legislation and policy, as well as due diligence in respect of climate change in corporate transactions. 

 

Get in touch

Andrew Waite

Andrew Waite

BLP
Partner, Environment
Paul Grace

Paul Grace

BLP
Associate Director, Planning & Environment