Podcast - Cracking Down on Carbon Markets: CFTC and FTC Exercise Heightened Scrutiny
Today, the European Commission proposed an amendment to the EU Climate Law reviewing the 2040 climate targets that first enshrined climate neutrality by 2050—and with it, a structural shift in how climate action will be...more
Washington State’s ambitious Cap-and-Invest Program was on the ballot this November. The program is designed to reduce planet-warming greenhouse gases (GHG) in the state by requiring large-emitting businesses to purchase...more
Purchasing carbon credits was once seen as a way for companies to sidestep genuine emissions reduction in their decarbonisation efforts. But that is changing as these products, and the way they are used, face growing...more
In this week’s edition, we discuss a Colombian court’s ruling in favor of an indigenous community who challenged the legality of a carbon credit project and a letter written by environmental activist groups to 71 airlines...more
Taylor Swift’s “Eras Tour” was one of the highest grossing music tours of all time with approximate proceeds exceeding US$1 billion. While this is a monumental feat, Taylor Swift also gained negative attention during the tour...more
In this week’s edition, our focus remains on carbon credits where the first ever set of “Core Carbon Principles”-labelled carbon credits were approved. The three European supervisory authorities publish their final reports on...more
California’s unprecedented AB 1305 law purports to target “greenwashing” by mandating public disclosures about virtually any claim of “significant” carbon reductions, but its broad wording and uncertain effective date raise...more
In August 2023, the Australian Department of Climate Change, Energy, the Environment and Water (DCCEEW) solicited feedback on proposed amendments to the Australian Carbon Credit Unit (ACCU) Scheme. This is the third step in...more
The voluntary carbon market is rapidly growing to match the increasing focus by corporate leaders on ESG efforts and net-zero goals. In 2021, the voluntary carbon market reached $2 billion, and by some estimates may be worth...more
In November 2022, the International Organization of Securities Commissions (“IOSCO”) published two reports − one on Compliance Carbon Markets (“CCMs”) and one on Voluntary Carbon Markets (“VCMs”). IOSCO continues to seek...more
A recently published independent review of Australia’s carbon credit units (ACCU) scheme, commissioned by the Australian government, has found that the ACCU scheme is “essentially sound,” but provides 16 recommendations to...more
Introduction- The burgeoning voluntary carbon credit (“VCC”) market presents a clear opportunity for tackling carbon emissions by allowing individuals, countries, and corporates to purchase credits to offset their own...more
At a recent meeting of the SEC’s Investor Advisory Committee discussing the SEC’s climate disclosure proposal, a speaker in charge of ESG investing at an asset manager raised the possible risk that companies, faced with a...more
The U.S. Senate recently passed the bipartisan Growing Climate Solutions Act (Act) by a 92-8 vote to help American farmers, ranchers and private forest owners adopt, and ultimately profit from, activities that reduce or...more
CME Group has announced plans to launch a carbon futures contract intended to offer a transparent, standardised and market-based solution to manage global emissions risk. ...more
Despite a historic and costly slowdown in air travel due to COVID-19 impacts, the Carbon Offsetting and Reduction Scheme for International Airlines (CORSIA) continues to advance in several key areas. Recent developments...more
After nearly a decade of work, on September 19, 2019, the California Air Resources Board (CARB) endorsed its much anticipated Tropical Forest Standard (TFS). The TFS is a first-of-its-kind framework for assessing...more
Supreme Court Sides with Property Owners; Companies have No Right to Get Natural Gas Without Permission - "The Supreme Court said, 'A mineral owner or lessee has an implicit right to use the overlying surface to access...more
It seems hard to believe now, but only a few years ago it looked like we might get federal cap-and-trade legislation to address greenhouse gas emissions. Almost exactly four years ago the House of Representatives passed the...more
On Wednesday, the European Parliament approved a proposal to delay the issue of 900 million emissions allowances (each representing the right to emit one metric ton of carbon dioxide or greenhouse gas equivalent, or CO2e)....more