Clifford Chance
COP27 – the UN Climate Change Conference of the Parties – focused on mitigation, adaptation and the urgent need for climate finance. These issues also present a range of challenges for our clients and we are helping them to future-proof their businesses as they look ahead to COP28, which will take place in November in Dubai.
Going beyond carbon reductions: The proposed EU carbon removals certification regulation
On 30 November 2022, the European Commission adopted a proposal for a Regulation to create a first EU-wide voluntary framework that would certify high-quality carbon removals. The draft Regulation is part of the EU's drive to be the world's first climate-neutral continent by 2050. The proposal requires third-party verification and certification of the compliance of carbon removals with the QU.A.L.ITY criteria and the related certification methodologies that will be set out in delegated acts. This regime does not apply to the storage of carbon emissions which are already covered by the mandatory EU ETS. Read more about going beyond carbon reductions.
Nature's Paris? Key outcomes and measures of the Kunming-Montreal Global Biodiversity Framework (COP15)
Agreement was reached by 190 countries on the Kunming-Montreal Global Biodiversity Framework (GBF) on 19 December 2022, after two weeks of negotiations at COP15 in Montreal. A key pillar of the GBF is a '30 by 30' pledge, with countries agreeing to protect 30% of land and water by 2030. This has led to the GBF being hailed by some as the Paris for nature, a comparison to the Paris Climate Agreement in 2015 which saw agreement for the first time on a common goal to cut greenhouse gas emissions. This briefing considers some of the key targets in the GBF. Read more about Nature's Paris.
Focus on hydrogen: The impact of the US Inflation Reduction Act's hydrogen incentives on trade
A key hydrogen trend to focus on for 2023 is "trade". The industry has gone from concentrating on the "colour" (i.e., grey, blue and green) of hydrogen in the energy transition to where it is made and whether it is improperly subsidised. Read more about the impact of the US Inflation Reduction Act's hydrogen incentives on trade.
COP27 – What can we expect?
COP27 – the UN Climate Change Conference of the Parties – is intended to build on the work that took place at COP26 last year and move on from pledges to implementation. This year's Conference is lower key and more procedural. Against a backdrop of the Russian invasion of Ukraine, increasing geopolitical tensions, food, and energy security issues, rising inflation and an uncertain economic outlook, Clifford Chance experts take a look at the themes of this year's conference and what is likely to be achieved. Read more about what we can expect from COP27.
Advancing the conversation on climate change – looking back at COP26
COP-26 was an opportunity for states, NGOs, the business community and the public to come together to discuss, debate and develop solutions to the climate crisis. Read more about advancing the conversation on climate change – looking back at COP26.
COP26: Did it deliver?
COP26, has been described as the 'last best hope" to avert climate disaster. In this extract from a recent Clifford Chance event, moderated by Partner and ESG Board member, Roger Leese, our experts assess the effectiveness of government actions and the important contribution made by businesses. Read more about COP26: Did it deliver?
