The Climate Report | First Quarter 2022
REGULATORY ISSUES & UPDATES
First Year of Implementation for the Taxonomy Regulation in the European Union
The delegated regulation includes a new comprehensive and unified reporting methodology to direct investments toward environmentally sustainable economic activities.
EPA Issues Stringent Greenhouse Gas Emissions Standards for Passenger Cars and Light Trucks
EPA's final rule sets revised greenhouse gas emissions standards for passenger cars and light-duty trucks with model years 2023-2026.
New Guidelines on State Aid for Climate, Environmental Protection, and Energy in the European Union
The European Commission has adopted new Guidelines on State Aid for Climate, Environmental Protection, and Energy, offering increased opportunity for businesses to receive State aid.
French Regulations Foster a More Climate-Compatible Building Industry
New legislation should accelerate the development of a more climate-compatible building industry in France and increase the use of efficient energy sources.
LITIGATION ISSUES & UPDATES
Climate Change and Investor-State Dispute Settlement
Investor-State Dispute Settlement, or ISDS, is becoming an increasingly important avenue for companies to take to resolve climate change disputes.
Climate Change Litigation in the European Union: The Netherlands
Relying on the Hague District Court's ruling in the Royal Dutch Shell case, a Dutch environmental group has called on the chief executives of the "Netherlands' large polluters" to draft a "climate plan" before April 15, 2022, detailing the actions they will take to reduce their companies' CO2 emissions by 45% in 2030.
UK Government Faces Judicial Review Challenge Over Net Zero Strategy
Separate legal action by two environmental organizations claims the government's proposals to meet the UK carbon budgets and net zero by 2050 are unlawful and a breach of human rights.
TRANSACTIONAL ISSUES & UPDATES
UK Government Publishes Third Climate Change Risk Assessment January 17, 2022
The assessment includes 61 UK-wide climate risks, with eight specific areas identified for immediate action in the next two years.
